2014
DOI: 10.1140/epjb/e2014-41038-1
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Critical slowing down associated with regime shifts in the US housing market

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Cited by 27 publications
(28 citation statements)
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“…Encouraged by the successes of early warning signals in other complex systems, some efforts have been made to explore the possibility of constructing early warnings from economic and financial time series. For instance, Tan and Cheong (2014) observed critical slowing down in the U.S. housing market. They detected strong early warning signals associated with a sequence of coupled regime shifts during the period of sub-prime mortgage loans transition and the sub-prime crisis.…”
Section: Introductionmentioning
confidence: 99%
“…Encouraged by the successes of early warning signals in other complex systems, some efforts have been made to explore the possibility of constructing early warnings from economic and financial time series. For instance, Tan and Cheong (2014) observed critical slowing down in the U.S. housing market. They detected strong early warning signals associated with a sequence of coupled regime shifts during the period of sub-prime mortgage loans transition and the sub-prime crisis.…”
Section: Introductionmentioning
confidence: 99%
“…Evidence supporting our assessment that the Subprime Loans Transition and the Global Financial Crisis Transition are discontinuous phase transitions comes in the form of statistical early warning signals prior to the transitions [7]. These signals work on the premise of critical slowing down, where the return rate to a stable equilibrium point decreases as the equilibrium point becomes less stable approaching a bifurcation point [8, 9].…”
Section: Introductionmentioning
confidence: 82%
“…1c and d). Such critical slowing down has been observed across an array of complex dynamic systems, such as those pertaining to ecosystems (Dakos and Bascompte, 2014;Dakos et al, 2010Dakos et al, , 2012aWouters et al, 2015) climate (Dakos et al, 2008;Lenton, 2011;Lenton et al, 2012), medicine (Meisel et al, 2015;Trefois et al, 2015), and social-financial markets (Tan and Cheong, 2014).…”
Section: Introductionmentioning
confidence: 99%