Literature Review of Real Estate Bubble Measurement Methods
Abstract
The real estate industry is the pillar industry of China’s economic development, and the excessive bubble in its market
will seriously affect the normal development of the national economy. The rapidly expanding real estate bubble has laid many
hidden dangers for the outbreak of the financial crisis. Therefore, scientific analysis of the bubble in the real estate market and
accurate measurement of the degree of market bubble are the prerequisites for taking appropriate corresponding measures. This
article compares and evaluates the different measurement methods of real estate bubbles by domestic and foreign scholars, and
puts forward reasonable suggestions.
will seriously affect the normal development of the national economy. The rapidly expanding real estate bubble has laid many
hidden dangers for the outbreak of the financial crisis. Therefore, scientific analysis of the bubble in the real estate market and
accurate measurement of the degree of market bubble are the prerequisites for taking appropriate corresponding measures. This
article compares and evaluates the different measurement methods of real estate bubbles by domestic and foreign scholars, and
puts forward reasonable suggestions.
Keywords
Real Estate Bubble; Measurement method; Comparative Study
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PDFReferences
[1] JA Hausman,1978, Specification test in econometrics [J]. Econometrica, Vol. 46, Issue 6:1251-1271.
[2] Campbell Y. J.& Kyle A. S,1988, Smart Money, Noise Trading, and Stock Price Behavior[R], NBER Technical Working Paper:72-73.
DOI: http://dx.doi.org/10.18686/ahe.v6i9.4819
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