An anatomy of bubbles -- The great depression -- Japan and the specter of de-ation -- The 1990s stock bubble and re-ation -- The worldwide boom -- Britain's bubble bursts -- US bubble and bust -- The financial crisis and household debt -- The pathology of bubbles -- Valuing markets sensibly --...

Turmoil in financial markets causes reflection. Is monetary policy conducted in the most efficient way? Are regulatory and supervisory arrangements adequate when market volatility increases and financial institutions come under stress? In the present SUERF Study, we have collected the...

The paper analyses the performance of emerging equity markets since 1985 in the light of the Asia crisis. Contrary to the high hopes of many investors, emerging markets have severely under-performed as an asset class over the whole period, (es-pecially since 1994), lagging well behind the US and...