ECB’s Praet highlights challenges in identifying asset-price bubbles
Peter Praet, a member of the European Central Bank's executive board, on Thursday said financial supervisors can use a number of indicators to identify asset-price bubbles.
At the EMF Annual Conference 2011 in Brussels, Belgium, Praet said: "Asset price bubbles do exist and have potentially large costs for the real economy, particularly in the case of house price bubbles. Although their costs are clear, their identification is not. The ex ante detection of costly house price booms is extremely
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