| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22065 |
| 来源ID | Working Paper 22065 |
| Speculative Fever: Investor Contagion in the Housing Bubble | |
| Patrick Bayer; Kyle Mangum; James W. Roberts | |
| 发表日期 | 2016-03-07 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Historical anecdotes of new investors being drawn into a booming asset market, only to suffer when the market turns, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature, causal empirical evidence on the topic is virtually non-existent. This paper studies the recent boom and bust in the U.S. housing market, establishing that many novice investors entered the market as a direct result of observing investing activity of multiple forms in their own neighborhoods and that these “infected” investors performed poorly relative to other investors along several dimensions. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Economics of Information ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w22065 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579738 |
| 推荐引用方式 GB/T 7714 | Patrick Bayer,Kyle Mangum,James W. Roberts. Speculative Fever: Investor Contagion in the Housing Bubble. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22065.pdf（633KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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