Schnabl, Gunther; Hoffmann, Andreas - Volkswirtschaftliche Fakultät, … - 2007
contributed to bubbles in the new and emerging markets. Based on the monetary overinvestment theories of Hayek and Wicksell we … describe a wave of bubbles and crises that was initiated in Japan by an expansionary monetary policy in the mid 1980s. After … the burst of the Japanese bubble and sharply declining interest rates in Japan, carry trade transmitted the bubbles to …