Brunnermeier, Markus K.; Schnabel, Isabel - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2014
This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central banks (or other institutions) reacted to those bubbles. The historical evidence suggests that the emergence of bubbles is often preceded or accompanied by an expansionary monetary...