Testing for bubbles in housing markets : new results using a new method

Borradores de Economia
Number: 
753
Published: 
Classification JEL: 
C22, G12, R31
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

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Juan Esteban Carranza-Romero, Alejandra González-Ramírez, Mauricio Villamizar-Villegas

In the context of financial crises influenced by the development and burst of housing price bubbles, the detection of exuberant behaviors in the financial market and the implementation of early warning diagnosis tests are of vital importance. This paper a