Beyond Bubbles: The role of asset prices in early-warning indicators

Borradores de Economia
Número: 
457
Publicado: 
Clasificación JEL: 
E58, E44, G12, G18
Palabras clave: 
Asset Price Bubbles, Early-Warning Indicators, Present Value Model, Financial Crisis

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Asset prices have recently become a common topic in economic debate. Nevertheless, much time has been spent in determining if they effectively exhibit a bubble component, and not in examining whether asset prices affectively contain relevant information c