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Housing Bubbles

Origins and Consequences

Authors: Basco, Sergi

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  • -Explains in detail the different types of housing bubbles
  • -Analyses recent examples of housing bubbles in the US and Spain
  • -Examines the economic consequences of housing bubbles for both households and businesses
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eBook 46,00 €
price for Spain (gross)
  • ISBN 978-3-030-00587-0
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
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  • Immediate eBook download after purchase
Hardcover 57,19 €
price for Spain (gross)
  • ISBN 978-3-030-00586-3
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

 “This book provides an accessible, yet formal framework to understand how housing bubbles arise, their international dimension, their consequences, and ways to prevent them.”

Òscar Jordà, University of California, Davis, USA


“Basco’s analysis blends, in a very rigorous but enjoyable manner , state-of-the-art theory and historical examples, adding also a very timely and valuable set of policy orientations.”

Óscar Arce, Director General, Banco de España, Madrid, Spain

Booms and busts of house prices are a recurrent feature throughout history. This book provides a comprehensive overview of the origins and economic consequences of these housing bubbles. The book starts with a formal definition of asset price bubbles and a summary of the most famous episodes, before describing how economists have thought about asset price bubbles; specifically behavioral vs. rational interpretations. These theories are applied to the special case of housing and the same framework is used to explain the implications of financial globalization for capital flows and housing bubbles. After analyzing its origins, the economic consequences of housing bubbles for both households and firms are derived and documented. The final sections are devoted to discussing the effects of financial crises and explain how financial regulation could mitigate the emergence of future housing bubbles. Case studies of the recent housing bubbles in the United States and Spain are also featured in the book. 

This book will be of value to advanced undergraduate macroeconomic courses, as well as researchers in international economics and macroeconomics and policy makers.

About the authors

Sergi Basco received his Ph.D. in Economics from the Massachusetts Institute of Technology, USA. He is Visiting Professor at the Autonomous University of Barcelona, Spain, and Research Fellow in Fundació MOVE, Spain. He writes about globalization, financial development and asset price bubbles.  

Reviews

“The readers who are interested in a more thorough theoretical or empirical perspective, this book is an excellent starting point as it provides an extensive list of references. … In sum, this is an accessible, clearly written book that is useful for everybody interested in economic theory and modelling in relation to housing bubbles.” (Jannes van Loon, International Journal of Housing Policy, Vol. 19 (3), 2019)

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook 46,00 €
price for Spain (gross)
  • ISBN 978-3-030-00587-0
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 57,19 €
price for Spain (gross)
  • ISBN 978-3-030-00586-3
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules

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Bibliographic Information

Bibliographic Information
Book Title
Housing Bubbles
Book Subtitle
Origins and Consequences
Authors
Copyright
2018
Publisher
Palgrave Pivot
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-030-00587-0
DOI
10.1007/978-3-030-00587-0
Hardcover ISBN
978-3-030-00586-3
Edition Number
1
Number of Pages
XI, 98
Number of Illustrations
3 b/w illustrations, 8 illustrations in colour
Topics

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