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1. Bubble Economics

   How Big a Shock to China’s Real Estate Sector Will Throw the Country into Recession, and Why Does It Matter?
   Documentos de trabajo
   Mayo 2016
   Bryane Michael and Simon X. Zhao

   How far do China’s property prices need to drop in order to send the country into a recession? What does this question tell us about the way Bubble Economies work? In this paper, we develop a...