Does Expansionary Monetary Policy Cause Asset Price Booms; Some Historical and Empirical Evidence
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Paper prepared for the Sixteenth Annual Conference of the Central Bank of Chile, "Macroeconomic and Financial Stability: Challenges for Monetary Policy" Santiago, Chile, November 15-16 2012. The authors would like to acknowledge the excellent research assistance provided by Antonio Cusato during this project. All remaining errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.