Allen, Franklin; Barlevy, Gadi; Gale, Douglas - 2017
call for raising interest rates to mitigate potential bubbles. In this paper, we argue there are situations in which the … to allow for this possibility, policymakers can intervene in ways that raise interest rates and dampen bubbles. However …-driven bubbles that alarm policymakers, and argue there may be justification for intervention in that case. …