2017-07-072017-11-272017-07-072017-07-07https://repositorio.banrep.gov.co/handle/20.500.12134/6318We use hazard models to study the determinants of housing price bubbles’ duration. We answer two related questions: i). Does prolonged domestic monetary policy easing increase the duration of housing price bubbles? And, ii). Does prolonged monetary policy easing in the US influences housing bubbles’ duration in other OECD countries? Our results suggest that the answer to the first question is a clear yes, while the answer to the second question is an indirect yes. Other variables that are also good predictors of the duration of bubbles are GDP growth and the degree of financial market development. Bubbles in developed financial markets tend to last longer. Other institutional variables, such as loan-to-value caps and limits to banking leverage, population growth and the consumer confidence index, have no effect on the probability of ending a bubble. Our results have relevant policy implications.17 páginas : gráficas, tablasPDFengOpen AccessBurbuja inmobiliariaFormación de burbujas inmobiliariasPruebas de raíz unitariaFunción de riesgoPaíses de la OCDEWorking PaperG12 - Asset Pricing; Trading Volume; Bond Interest RatesG01 - Financial CrisesC22 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion processesHousing bubblesBubble formationRecursive right-tailed unit root testsDurationHazard functionOECDPolítica monetaria -- Estados Unidos -- 1970-2015Producto interno bruto -- Estados Unidos -- 1970-2015Política monetaria -- Países de la OCDE -- 1970-2015Producto interno bruto -- Países de la OCDE -- 1970-2015Burbuja hipotecaria -- Estados UnidosVivienda -- Precios -- Estados Unidos -- 1970-2015Burbuja hipotecaria -- Países de la OCDEVivienda -- Precios -- Países de la OCDE -- 1970-2015Acceso abiertoAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0C22 - Modelos de series temporales; Regresiones cuantiles dinámicas; Modelos dinámicos de tratamiento; procesos de difusiónG01 - Crisis financieraG12 - Valoración de activos financieros; Volumen de comercio; Tasas de interés de bonosLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.https://hdl.handle.net/20.500.12134/6318