| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10781 |
| DP10781 Leveraged Bubbles | |
| Alan M. Taylor; Moritz Schularick; Oscar Jorda | |
| 发表日期 | 2015-08-23 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | 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 housing price bubbles have emerged as a particularly dangerous phenomenon. |
| 主题 | Economic History ; Financial Economics ; Monetary Economics and Fluctuations |
| 关键词 | Bank lending Boom Bust Crises Debt overhang Local projections |
| URL | https://cepr.org/publications/dp10781 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539612 |
| 推荐引用方式 GB/T 7714 | Alan M. Taylor,Moritz Schularick,Oscar Jorda. DP10781 Leveraged Bubbles. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
