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010   $a9786612842788
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100   $a20100222d2009      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aIrrational exuberance in the U.S. housing market$b[electronic resource] $ewere evangelicals left behind? /$fprepared by Christopher Crowe
210   $a[Washington, DC] $cInternational Monetary Fund Research Dept.$dc2009
215   $a1 online resource (32 p.)
225 1 $aIMF working paper ;$vWP/09/57
300   $a"March 2009".
311   $a1-4519-1639-6 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; Figures; 1. House Price Volatility and Evangelical Population; 2. Average House Price Growth; II. Evangelicals and House Price Volatility; A. Empirical Specification and Results; Tables; 1. Descriptive Statistics; B. Discussion; 2. Regression Results; III. 9/11 Event Study; IV. Panel Study; A. Model and Predictions; 3. Quarterly House Price Growth and Share of Evangelicals; 4. The Rapture Index and Subcategories; B. Data and Empirical Strategy; 5. The Rapture Index; C. Results and Discussion; 3. Descriptive Statistics; 4. Regression Results
327   $aV. End Times Beliefs and Asset Holdings5. Counterfactual Exercise; 6. Regression Results; VI. Conclusions; References; Appendix I. Data Descriptions and Sources
330   $aThe recent housing bust has reignited interest in psychological theories of speculative excess (Shiller, 2007). I investigate this issue by identifying a segment of the U.S. population-evangelical protestants-that may be less prone to speculative motives, and uncover a significant negative relationship between their population share and house price volatility. Evangelicals' focus on Biblical prophecy could account for this difference, since it may enable them to interpret otherwise negative events as containing positive news, dampening the response of house prices to shocks. I provide evidence
410  0$aIMF working paper ;$vWP/2009/57.
606   $aHousing$xPrices$zUnited States
606   $aEvangelicalism
606   $aEconomics$xReligious aspects$xChristianity
608   $aElectronic books.
615  0$aHousing$xPrices
615  0$aEvangelicalism.
615  0$aEconomics$xReligious aspects$xChristianity.
700   $aCrowe$b Christopher$g(Christopher W.)$0868737
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910464233603321
996   $aIrrational exuberance in the U.S. housing market$91940179
997   $aUNINA