The Fed and Asset Bubbles: Beyond Superficiality
There is considerable discussion about tasking the Federal Reserve Board with monitoring and even taking actions to prevent asset bubbles. Before they move too far, the Fed needs to understand what...
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Misunderstanding the Bubble and Burst in Sacramento
An opinion piece in the Sacramento Bee by Sean Wirth of the Environmental Council of Sacramento could not have been more wrong in its characterization of the causes of the housing bubble in Sacramento....
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Detroit Bankruptcy: Missing the Point
Nobel Laureate Paul Krugman tells us that “sprawl killed Detroit” in his The New York Times column. The evidence is characterized as “job sprawl” – that a smaller share of metropolitan area jobs are...
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