The Housing and Credit Bubbles in the United States and Europe: A Comparison
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Economics
Finance
Finance and Financial Management
Real Estate
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Finance and Financial Management
Real Estate
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A house price boom occurred simultaneously in the United States and in a number of European countries from 2003 to 2007, accompanied in each case by an expansion in housing finance. This article considers the role of financial innovation along with incomplete markets in these cycles.
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2015-03-29
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Real Estate Economics