Brunnermeier, Markus K; Schnabel, Isabel - C.E.P.R. Discussion Papers - 2015
often preceded or accompanied by an expansionary monetary policy, lending booms, capital inflows, and financial innovation …. Monetary policy and macroprudential measures that lean against inflating bubbles can and sometimes have helped deflate bubbles …This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central …