New paper finds Colombia could be in the midst of a housing bubble


A new paper produced by researchers at the Central Bank of Colombia has found the country could be experiencing a housing bubble, according to tests run using a new method for detecting bubbles, developed in a paper by Phillips et al in 2012.

The Colombian study is, the authors say, the second application of Phillips et al's "new-fangled method" after it was used last year in a study of the Hong Kong residential property market, which found "striking results that significantly contrast with

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