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This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It...
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With the advent of EMU monetary policy can no longer be used to prevent housing market bubbles in regional economies … turning into bubbles did lasting damage to the two economies, damage that could have been avoided by more appropriate fiscal …
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