Rethinking Housing Bubbles: The Role of Household and Bank Balance Sheets in Modeling Economic Cycles Assuming no financial knowledge

Assuming no financial knowledge

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Rethinking Housing Bubbles: The Role of Household and Bank Balance Sheets in Modeling Economic Cycles Assuming no financial knowledgeAuthor: Vernon L. Smith Category: Business & Finance Language: English Publisher: Cambridge University Press Publication date: May 12, 2014 In this highly original piece of work, Steven D. Gjerstad and Nobel Laureate Vernon L. Smith analyze the role of housing and its associated mortgage financing as a key element of economic cycles. The authors combine data from both laboratory and real markets to provide insight into the bubble propensity of real