Title: The detection of bubblesWrite a literature survey and analyse different concepts:project 1.) Describe theoretical approaches of bubbles and discussdefinition: the literature that applies the theoretical work. 2.) What concepts have central banks toidentify bubbles?3.) Should central banks intervene and lean against price bubbles?Specfic market is (housing) 4.) What methods (and data series) are used for bubble detection in your specific market?5.) Develop a paper with the above mentioned objectives. Try to introduce most relevant theoretical approaches and ideas and find a good link to the empirical examples for your specific market.Paper: The short research paper will comprehend around 4 pages: 3 pages of discussion of literature on the general topic, i.e. the general definition and different perspectives with respect to theoretical literature and empirical literature; 1 page of description of the specific market.The Specific Market is Housing.