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dc.contributor.authorBerlemann, Michaelen_US
dc.contributor.authorFreese, Juliaen_US
dc.contributor.authorKnoth, Svenen_US
dc.date.accessioned2012-10-23en_US
dc.date.accessioned2012-10-26T12:13:37Z-
dc.date.available2012-10-26T12:13:37Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/65658-
dc.description.abstractWhile most economists agree that the recent worldwide financial crises evolved as a consequence of the US house price bubble, the related literature yet failed to deliver a consensus on the question when exactly the bubble started developing. The estimates in the literature range in between 1997 and 2002, while applications of market-based-procedures deliver even later dates. In this paper we employ the methods of statistical process control (SPC) to date the likely beginning of the bubble. The results support the view that the bubble on the US house market already emerged as early as 1996. We also show that SPC in general might be a useful tool in constructing early warning systems for asset price bubbles.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo Working Paper: Monetary Policy and International Finance 3962en_US
dc.subject.jelC32en_US
dc.subject.jelE44en_US
dc.subject.ddc330en_US
dc.subject.keywordstatistical process controlen_US
dc.subject.keywordreal estateen_US
dc.subject.keywordasset prices bubblesen_US
dc.subject.keywordearly warning systemsen_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwBubblesen_US
dc.subject.stwStatistische Qualitätskontrolleen_US
dc.subject.stwFrühwarnsystemen_US
dc.subject.stwUSAen_US
dc.titleEyes wide shut? The U.S. house market bubble through the lense of statistical process controlen_US
dc.typeWorking Paperen_US
dc.identifier.ppn728268086en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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