Detecting Bubbles in Hong Kong Residential Property Market

• المؤلفون الرئيسيون: YIU, Matthew S., YU, Jun, JIN, Lu
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2013
• الموضوعات: Asset bubble; Residential property prices; Right-tailed unit root test; Explosive behaviour; Price-to-rent ratio; Asian Studies; Econometrics; Economics; Macroeconomics
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soe_research/1549; https://ink.library.smu.edu.sg/context/soe_research/article/2548/viewcontent/DetectingBubblesHongKongResidentialPropertyMarket_2013_afv.pdf

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...