Oireachtas Joint and Select Committees
Wednesday, 4 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Alan Ahearne:
As I said, it is not foolproof. We looked at this in a 2005 paper and we found examples of price-rent ratios which suggested a boom or a bust but where a boom or bust did not materialise. There is no infallible tell-tale sign. It is useful but it has to be supplemented with other types of information.
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