Csermely, Ágnes; Szalai, Zoltán - In: MNB Bulletin 5 (2010) 2, pp. 6-12
One fundamental lesson of the financial crisis is that the evolution of financial imbalances may suggest overheating in the economy, which does not necessarily entail a rise in inflation. The bursting of these bubbles may result in an abrupt overshooting of the positive output gap in the...