6min chapter

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Housing Bubble Week: A Philosophy Of Bubbles - Timo Henckel

The Joe Walker Podcast

CHAPTER

The Economics of Bubbles

In economics, when you solve a differential equation, there are two parts. One is the part that can be explained by other exogenous variables. The second is based entirely on expectations of future changes in prices. Many economists would argue that this second bubble component must be ruled out as it cannot last forever.

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