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Overview“This book provides an accessible, yet formal framework to understand how housing bubbles arise, their international dimension, their consequences, and ways to prevent them.” Òscar Jordà, University of California, Davis, USA “Basco’s analysis blends, in a very rigorous but enjoyable manner , state-of-the-art theory and historical examples, adding also a very timely and valuable set of policy orientations.” Óscar Arce, Director General, Banco de España, Madrid, Spain Booms and busts of house prices are a recurrent feature throughout history. This book provides a comprehensive overview of the origins and economic consequences of these housing bubbles. The book starts with a formal definition of asset price bubbles and a summary of the most famous episodes, before describing how economists have thought about asset price bubbles; specifically behavioral vs. rational interpretations. These theories are applied to the special case ofhousing and the same framework is used to explain the implications of financial globalization for capital flows and housing bubbles. After analyzing its origins, the economic consequences of housing bubbles for both households and firms are derived and documented. The final sections are devoted to discussing the effects of financial crises and explain how financial regulation could mitigate the emergence of future housing bubbles. Case studies of the recent housing bubbles in the United States and Spain are also featured in the book. This book will be of value to advanced undergraduate macroeconomic courses, as well as researchers in international economics and macroeconomics and policy makers. Full Product DetailsAuthor: Sergi BascoPublisher: Springer Nature Switzerland AG Imprint: Springer Nature Switzerland AG Edition: 1st ed. 2018 Weight: 0.454kg ISBN: 9783030005863ISBN 10: 3030005860 Pages: 98 Publication Date: 12 October 2018 Audience: Professional and scholarly , College/higher education , Professional & Vocational , Undergraduate Format: Hardback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of Contents1. Introduction.- 2. A Brief History Of Bubbles.- 3. Origin Of Asset Price Bubbles.- 4. Globalization And Housing Bubbles.- 5. Consequences Of Housing Bubbles.- 6. Regulating Housing Bubbles.ReviewsThe readers who are interested in a more thorough theoretical or empirical perspective, this book is an excellent starting point as it provides an extensive list of references. ... In sum, this is an accessible, clearly written book that is useful for everybody interested in economic theory and modelling in relation to housing bubbles. (Jannes van Loon, International Journal of Housing Policy, Vol. 19 (3), 2019) “The readers who are interested in a more thorough theoretical or empirical perspective, this book is an excellent starting point as it provides an extensive list of references. … In sum, this is an accessible, clearly written book that is useful for everybody interested in economic theory and modelling in relation to housing bubbles.” (Jannes van Loon, International Journal of Housing Policy, Vol. 19 (3), 2019) Author InformationSergi Basco received his Ph.D. in Economics from the Massachusetts Institute of Technology, USA. He is Visiting Professor at the Autonomous University of Barcelona, Spain, and Research Fellow in Fundació MOVE, Spain. He writes about globalization, financial development and asset price bubbles. Tab Content 6Author Website:Countries AvailableAll regions |
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