At a time when the public is increasingly sensitive to changes in the asset markets, due to involvement in stock markets—including through retirement funds, investment in housing, and exposure to commodity prices, this insightful book offers insight to scholars, policymakers, and all...

This NBER volume represents a major contribution to the ongoing debate about the consequences of open capital markets on economic growth and volatility, the appropriate sequence of liberalization of the current and capital accounts, and the ability of public policy to influence economic...

The remarkable boom and bust of America’s housing markets during the first decade of the twenty-first century now join the stock market gyrations of the 1920s and the dot-com bubble of the late 1990s, doing as much damage to the received wisdom about housing markets and housing policy as...