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Prices, Rents and Rational Speculative Bubbles in the Sydney Housing Market

✍ Scribed by EDEN HATZVI; GLENN OTTO

Book ID
111208579
Publisher
John Wiley and Sons
Year
2008
Tongue
English
Weight
321 KB
Volume
84
Category
Article
ISSN
0013-0249

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πŸ“œ SIMILAR VOLUMES

Market fundamentals versus rational bubb
Market fundamentals versus rational bubbles in stock prices: a Bayesian perspective
✍ Nathan S. Balke; Mark E. Wohar πŸ“‚ Article πŸ“… 2008 πŸ› John Wiley and Sons 🌐 English βš– 469 KB

## Abstract Using Bayesian Markov chain Monte Carlo methods, we decompose the log price‐dividend ratio into a market fundamentals component and a bubble component. The market fundamentals component depends on expectations of future dividend growth and required returns, while the bubble component is