that asset booms, bubbles and busts continue posing a threat to financial stability despite financial markets becoming …

bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more …

We study the existence and international transmission of housing market bubbles, using quarterly information of twenty … OECD countries for the period comprised between 1970 and 2015. We find that housing bubbles are present in all the … countries included in our sample. Multiple bubbles are found in all but two of those countries. We find five episodes of …

We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size … decide whether to lend to traders with limited liability. Bubbles increase welfare of the initial asset holders, but reduce … welfare of future households. We provide general conditions for the possibility of bubbles depending on uncertainty about …

builds up, during the run-up phase of crises and asset price bubbles, and increases when systemic risk materializes …

erupted in 2007, the phenomenon migrated selectively into the commodity market and the bond market, creating bubbles which …

We analyze the determinants of real estate and credit bubbles using a unique borrower-lender matched dataset on …