Detecting Bubbles in Hong Kong Residential Property Market

• Main Authors: YIU, Matthew S., Yu, Jun, JIN, Lu
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2012
• 主題: asset bubble; residential property prices; right‐tailed unit root test; explosive behaviour; price‐to‐rent ratio; Asian Studies; Econometrics; Finance; Macroeconomics
• 在線閱讀: https://ink.library.smu.edu.sg/soe_research/1404; https://ink.library.smu.edu.sg/context/soe_research/article/2403/viewcontent/31_2012_Detecting_Bubbles_in_Hong_Kong_Residential.pdf
• 機構: Singapore Management University

This study uses a newly developed bubble detection method (Phillips, Shi and Yu, 2011) to identify real estate bubbles in the Hong Kong residential property market. Our empirical results reveal several positive bubbles in the Hong Kong residential property market, including one in 1995, a stronger o...