01608cas a2200241 a 4500 AALejournalIMF013381 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475515299 1018-5941 BD-DhAAL BD-DhAAL Scherbina, Anna. Asset Price Bubbles : A Selective Survey / Anna Scherbina. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (41 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard rational models, the new literature is able to model the common characteristics of historical bubble episodes and offer insights for how bubbles are initiated and sustained, the reasons they burst, and why arbitrage forces do not routinely step in to squash them. The latest U.S. real estate bubble is described in the context of this literature. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2013/045 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/045/001.2013.issue-045-en.xml IMF e-Library