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Asset Booms, Asset Busts: History Repeats Itself And The Proof Is In Te Pop

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Executive Summary

Asset bubbles and financial crises are a recurring feature in developed and developing economies. Once the bubble bursts, it takes time, generally counted in years, for asset values to hit their trough. Deflation in real estate and stress in the financial sector tend to have a particularly negative effect on the wider economy. The damage to the wider economy in the post-bubble period tends to be severe.

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