<heading id="h1" level="1" implicit="yes" format="display">Abstract</heading> 'Capitalism without failure is like religion without sin'. Charles Kindleberger's book Manias, Panics and Crashes points out that speculation and crises have always been present: the world economic crisis of the 20th century, the South Sea bubble in the 18th century, and the tulip mania...

type="main" xml:id="twec12199-abs-0001" <title type="main">Abstract</title> <p>Since 2009, central banks in the major advanced economies have held interest rates at very low levels to stabilise financial markets and support the recovery of their economies. This paper outlines the unintended consequences of the prolonged...</p>