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detect the house price bubbles and attenuate their devastating effects on the domestic and world economy …In this paper, we construct the country-specific chronologies of the house price bubbles for 12 OECD countries over the … models. It is shown that the latter two models allow much more accurate predictions of the house price bubbles than the …
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We analyze the relationship between asset price bubbles and systemic risk, using bank-level data covering almost thirty … years. Systemic risk of banks rises already during a bubble’s build-up phase, and even more so during its bust. The increase …
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The paper aims at deriving some stylised facts for financial, real, and monetary policy developments during asset price booms. We observe various macroeconomic variables in a pre-boom, boom and post-boom phase. Not all booms lead to large output losses. We analyse the differences between...
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We analyze the relationship between asset price bubbles and systemic risk, using bank-level data covering almost thirty …
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