uncertainty. Positive/negative bubbles arise when prior public beliefs about the aggregate productivity of producers (business … uncollateralized credit. We find that this kind of policy is more successful in suppressing equity price swings than moderating output …

are usually preceded by credit booms. Second, credit booms often do not result in a crisis. That is, there are "good …

are usually preceded by credit booms. Second, credit booms often do not result in a crisis. That is, there are "good …