Tagged: Financial Economics

The housing bubble: Why implicit insurance may well be the real driver of Piketty’s concerns - The Dismal Science

Matt Nolan May 13, 2014

Alex Tabarrok at Marginal Revolution points out that, without the run up in house prices, we do not get Piketty’s trend of rising capital to output ratios in the data.  This is very true, and was one of the key reasons why I wasn’t convinced that Piketty’s explanation of his data was the best available. Now […] … Read More