Testing for bubbles in indirect property price cycles

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Brooks, Chris; Katsaris, Apostolos; McGough, Tony; Tsolacos, Sotiris;

Speculative bubbles are generated when investors include the expectation of the future price in their information set. Under these conditions, the actual market price of the security, that is set according to demand and supply, will be a function of the future price and... View more
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