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Barcelona GSE Working Paper Series Working Paper nº 605Real Value Understanding Bubbly Episodes (1960)
BibTeX
@MISC{Carvalho60barcelonagse,
author = {Vasco M. Carvalho and Alberto Martín and M. Carvalho and Alberto Martin and Jaume Ventura},
title = {Barcelona GSE Working Paper Series Working Paper nº 605Real Value Understanding Bubbly Episodes},
year = {1960}
}
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Abstract
Wealth has fluctuated substantially in recent US macroeconomic history. Figure 1 documents this by plotting the evolution of real net worth of US households and non-profit organizations between 1950 and 2010. 1 Up until the early 1990s the evolution of wealth seems relatively stable, displaying only mild and short-lived fluctuations around its trend. Since then, however, this behavior changed dramatically. From 1995 to 1999, and again from 2002 to 2006, wealth grew at a staggering 9 % per year only to contract violently in subsequent years.
