• House prices and bubbles in New Zealand 

    Fraser, Patricia; Hoesli, Martin; McAlevey, Lynn
    Much of bubble literature centred on financial markets. Dominant theory – if prices deviate from fundamental value for some time then a bubble is said to exist. Bubbles usually characterised in three main ways: ● momentum: ...
  • House Prices, fundamentals and Inflation 

    Black, Angela; Hoesli, Martin; Fraser, Patricia
    This paper studies actual house prices relative to fundamental house prices. Using UK data and a time-varying present value approach, we find that deviations of house prices from their fundamental value (as warranted by ...