Michael D. Bordo: An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime: "From 1880 to the present... the incidence, costs, and determinants of financial crises... combined with narratives...
...Financial crises have many causes, including credit-driven asset price booms, which have become more prevalent in recent decades, but in general financial crises are very heterogeneous and hard to categorize. Moreover, evidence shows that the association across the country sample between credit booms, asset price booms, and serious financial crises is quite weak...
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