... the data base of the Bank for International Settlements (BIS). Quarterly data over the whole sample period are available for Australia, Canada, Switzerland, Denmark, Finland, France, the Netherlands, ... obtain both equity and residential property price data: Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Norway, Spain, Sweden, Switzerland, ... even at the 95% level in Canada, Finland, the Netherlands, Norway, Sweden, Switzerland, the UK and the US. Moreover, while in some countries, (including Finland, the UK and the US) residential...