Comment: The housing bubble debate

In a recent working paper for the Czech National Bank Stephen Cecchetti, an economist at Brandeis University concludes that "monetary policymakers have no choice but to face the risks posed by asset price bubbles head on".

COMMENT BY CENTRALBANKNEWS

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Cecchetti is unimpressed by the standard counter-attack of conservative central bankers: that it is too difficult to quantify housing bubbles. Quite simply, he believes, that is unlikely that estimating housing

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