uncertainty. Positive/negative bubbles arise when prior public beliefs about the aggregate productivity of producers (business …

Speculation is a critical channel through which credit supply expansion affects the housing cycle. The surge in private …

Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to …

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 …

In models of financial bubbles, the price of a stock is a priori typically unbounded, and this plays a fundamental role … in the analysis of finite horizon local martingale bubbles. It would seem that price bubbles do not apply to bounded …

Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to …