Chile's De Gregorio on handling bubbles

The lesson from the present crisis is that we cannot wait for asset-price bubble to burst before addressing its effects, said Jose De Gregorio, the governor of the Central Bank of Chile.

Speaking at a business school in Santiago, he said that the approach of dealing with the consequences of bubbles after they burst may have worked with technological bubble of the early 2000s, but the real-estate boom is a proof that this approach is flawed.

In future, the focus should be on risk regulation and

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