suite of models for financial bubbles and crashes. By modifying previous approaches, we are able to derive novel analytical … applications is deep and wide ranging, and includes contemporary housing bubbles, the Eurozone crisis and the Crash of 2008. …

and crashes as market regimes with correlated negative jumps clustering over a finite period of time, our model provides a … series because they assume that crashes occur in a single large negative jump, which is counterfactual. The model estimation …

financial crisis. The effect of bubbles on stock and housing markets and their transmission to the domestic real economy and the …

financial crisis. The effect of bubbles on stock and housing markets and their transmission to the domestic real economy and the …

two open economies. Our focus is on how stock and housing market bubbles are transmitted to and affect the domestic real …