This paper offers a specific analysis of speculation bubbles in the economic history of the world, and then tries to … identify the causes and effects of the speculation bubble on the real estate market in the USA, which was the main cause of the … subprime crisis. The first part of the paper aims at defining the phenomenon of economic fluctuations and speculation bubble …

this paper, we test for speculative house price bubbles in 127 large German cities over the last 20 years. Along with … testing bubbles for each city separately, we apply two new testing approaches: a panel data and principal components version …. Therefore, to check for the existence of bubbles, we examine prices, rents, and price-to-rent ratios. We find evidence for …