A Translation Project Report Of Leveraged Bubbles

This is a translation project report of Leveraged Bubbles, a paper published in October 2015 by Bank for International Settlement on its website. The authors of the paper are three economists from Federal Reserve Bank of San Francisco and University of California, Davis and National Bureau of Economic Research and Center for Economic Policy Research respectively. The paper studies housing and equity markets bubbles in 17 countries over the past 140 years. The main results of the paper show that not all bubbles are the same, some bubbles exert significant impact on real economy, while others are dispersed without any effect. The housing bubbles with above average credit rates the highest risk in all bubbles list.With the help of my supervisor, I successfully translate the whole passage without remarks and references bibliography. The whole translating process is guided by Direct and Oblique Methods put forward by Vinay and Darbelnet, which enables me to keep the target text much more faithful. What is more, I make a real effort to ensure the target text clearly, coherently, intact and accurately.