Agnello, Luca; Schuknecht, Ludger - 2009
busts; 3) economic costs (in terms of GDP losses during the post-boom phase) depend significantly on the magnitude and … deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects … Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a …