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Executive Summary We explore the prevalence of asset-price bubbles in Australian listed industrial equities and A-REIT markets. In contrast to the US listed stock markets, we find little evidence of asset-price bubbles in historical returns of Australian markets . Our findings are robust to the choice of econometric method and historical data range. We also provide a review of the literature surrounding asset-pricing bubbles, as well as a review of the econometric identification of asset-pricedoi:10.2139/ssrn.2831806 fatcat:f5rtz55trncrthazplgueynccq