The Housing and Credit Bubbles in the United States and Europe: A Comparison

Susan Wachter

Journal of Money, Credit and Banking, 2015, vol. 47, issue S1, 37-42

Abstract: A house price boom occurred simultaneously in the United States and in a number of European countries from 2003 to 2007, accompanied in each case by an expansion in housing finance. This article considers the role of financial innovation along with incomplete markets in these cycles.

Date: 2015
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https://doi.org/10.1111/jmcb.12188

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:47:y:2015:i:s1:p:37-42

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