, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature …

”bubbles”. In this paper, we provide a model-free test of rational bubbles and we apply it to the U.S. housing market. Based on …

test methodology proposed by Phillips et al. (2015a,b). Motivated by the theory of financial arbitrage, we examine within a …

speculative bubbles in Germany over the sample period 1987Q3 - 2012Q4. Overall, we find that actual house prices are not … significantly disconnected from underlying economic fundamentals. Thus, there is no evidence of speculative house price bubbles in …

concluded the US experienced a housing bubble. The efficient market theory denies the possibility of a bubble. This paper …

We introduce a novel quantitative methodology to detect real estate bubbles and forecast their critical end time, which … calibration with respect to bootstrapped residuals. We make three main contributions to the literature of real estate bubbles … critical times of historical housing price bubbles in the U.S., Hong Kong, U.K. and Canada. Second, the LPPLS detection methods …