Search Results

Showing results 1 to 1 of approximately 1.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:Haoyang Liu 

Discussion Paper
Optimists and Pessimists in the Housing Market

Given momentum in house prices over business cycles, research on consumer beliefs since the financial crisis has honed in on the potential importance of extrapolative beliefs?myopically assuming trends in asset prices will continue. Extrapolation is frequently cited as a central reason for excessively optimistic expectations about future asset prices, featuring prominently, for example, in the irrational exuberance narrative of Shiller. Other influential work since the Great Recession has emphasized the outsized role that extrapolative optimists can have in bubble formation. In this post, we ...
Liberty Street Economics , Paper 20191016

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

PREVIOUS / NEXT