Browsing by Subject "bubbles"
Now showing items 1-3 of 3
(2006-01-31)This paper studies actual (real) house prices relative to fundamental (real) house values. Such a focus is warranted since housing constitutes a large fraction of most household portfolios, and its characteristics are ...
What drives stock prices? The Present Value Model revisited in a comparison of developed and emerging markets (2008-01-15)Using a dynamic version of the present value model and a range of developed and Asian emerging markets, this paper considers what stock market prices ‘should have been’, given expectations on index cash dividends and on, ...