Issing praises RBNZ's Bollard

European Central Bank chief economist Otmar issing has singled out New Zealand's Reserve Bank governor, Alan Bollard, for his innovative thinking on asset price bubbles.

Dr Issing discussed Dr Bollard's theories in an article he wrote for German financial newspaper the Boersen-Zeitung, titled "Monetary policy and asset prices".

He quoted Alan Greenspan as saying it was "far from obvious that bubbles, if identified early, could be pre-empted short of the central bank inducing a substantial cont