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- W614795803 abstract "I examine the argument that a low interest rate policy can lead to overvalued private assets or privately created bubbles (private bubbles). Using the standard approach to bubbles, I find that a policy of a low real interest rate may support private bubbles but a policy of a low nominal interest rate may actually reduce the importance of private bubbles. I then attempt a less conventional way of modeling bubbles focusing on the supply of private bubbles. The paper uses results from the Friedman rule literature, the fiscal approach to the price level and the literature on rational bubbles." @default.
- W614795803 created "2016-06-24" @default.
- W614795803 creator A5087332229 @default.
- W614795803 date "2012-07-11" @default.
- W614795803 modified "2023-09-27" @default.
- W614795803 title "Does a low interest rate support private bubbles" @default.
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