Ankara (TR51) which are important parts of Turkish housing market is investigated. Besides, SADF and GSADF unit root tests …In this study whether bubbles exist in the three biggest cities housing market, İstanbul (TR10), İzmir (TR31) and … developed by Phillips et. al. (2011, 2012) is used in order to detect bubbles in the housing market in the period between …

Africa (the ‘BRICS' countries group) against the US dollar. We consider bubbles of the periodically recurring variety, and …This paper tests the occurrence of rational bubbles in the exchange rate of Brazil, Russia, India, China and South …. We discuss the dynamics of the absolute bubble, and also compare the time series of the bubbles for the several countries …

Locally explosive behavior is observed in many economic and financial time series when bubbles are formed. We introduce … be used to predict the emergence, existence and burst of bubbles. We adopt a flexible observation driven model …

This article shows that the presence of portfolio constraints can give rise to rational asset pricing bubbles in … opportunities. Furthermore, it is shown that when they are present bubbles can lead to both multiplicity and real indeterminacy of … make bubbles a necessary condition for the existence of an equilibrium …

We show that the interplay between endogenous limited participation and credit lines creates asset price bubbles in a … least as well off. Optimal liquidity is found to be consistent with the existence of bubbles in stock and bond markets under … emergence of bubbles on stock prices that is tied to the direction of liquidity needs and the allocation of risk across …

Generalized sup ADF (GSADF) test procedure developed by Phillips, Shi, and Yu (Testing for Multiple Bubbles: Historical Episodes …