Leverage bubbles
"What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while others blow over. We demonstrate that what mak...
| Main Authors: | , , |
|---|---|
| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Cambridge, MA
2015
NBER |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19100579124919287519-Leverage-bubbles.htm |
| _version_ | 1771659897415401473 |
|---|---|
| author | Jordà, Oscar Schularick, Moritz Taylor, Alan M. |
| author_facet | Jordà, Oscar Schularick, Moritz Taylor, Alan M. |
| collection | Library items |
| description | "What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while others blow over. We demonstrate that what makes some bubbles more dangerous than others is credit. When fueled by credit booms asset price bubbles increase financial crisis risks; upon collapse they tend to be followed by deeper recessions and slower recoveries. Credit-financed house price bubbles have emerged as a particularly dangerous phenomenon." |
| format | TEXT |
| geographic | developed countries |
| id | 19100579124919287519_026af5e47fa3479f9a6a4871cc165a32 |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19100579124919287519_026af5e47fa3479f9a6a4871cc165a32 |
| is_hierarchy_title | Leverage bubbles |
| language | English |
| physical | 37 p. Digital |
| publishDate | 2015 |
| publisher | Cambridge, MA NBER |
| spellingShingle | Jordà, Oscar Schularick, Moritz Taylor, Alan M. credit economic recession housing price Leverage bubbles |
| thumbnail | https://www.labourline.org/Image_prev.jpg?Archive=107879192505 |
| title | Leverage bubbles |
| topic | credit economic recession housing price |
| url | https://www.labourline.org/KENTIKA-19100579124919287519-Leverage-bubbles.htm |