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bubbles. This paper explores the case for explicitly targeting asset price bubbles, a policy that the Federal Reserve Bank has …. Asset price bubbles are identifiable. Bubbles also do significant economic harm through the debt footprint effects they … of bubbles. Managing bubbles calls for additional policy instruments. These can be provided a system of asset based …
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Introduction -- Efficient markets and central banks? -- Money, banks and central banks -- Stable and unstable markets -- Deceiving the diligent -- On (central bank) governors -- Minsky meets Mandelbrot -- Beyond the efficient market fallacy -- Concluding remarks
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