„… banks should not target asset prices. 2. Central banks should not try to prick a bubble. 5 By the way …” „… individual asset prices successfully, and creating a macroeconomic mess by pricking a bubble would ruin the …” „… Price Bubbles and Monetary Policy”, Monthly Bulletin, April. ECB (2010a), “Asset Price Bubbles and …”

„… interest rates created a situation of excessive risk-taking and asset price bubbles – bubbles enlarged by …” „… asset prices. 2. Central banks should not try to prick a bubble. 87Lessons for Central Banks 3. Central …” „… meantime, numerous empirical studies have shown that almost all asset price bubbles have been accompanied …”

„… ECB (Detken and Smets, 2004) have demonstrated that hardly any asset price “bubble” has not been …” „… collapse of asset prices (including real estate) after a big bubble, destroying balance sheets of banks and …” „… developments in asset prices. The question that remains, therefore, is, why would a central bank base its …”

„… becoming the new consensus on how to deal with asset-price bubbles. I cannot resist toask if this is a …” „… the past that neglected asset price bubbles, practiced overambitious fine-tuning and fought against …” „… asset prices into account poses another important challenge for central banks. An increasing number of …”

„… “Minsky moment”, that is, a sudden major collapse in asset values. Reinhart and Rogoff (2009) identified …” „… , because of expectations of lower prices tomorrow, is hardly observed. The biggest threat is a process of …” „… note that for Fisher, the stability of the price level is an indispensable condition for a sustainable …”

„… Asset Price Bubbles: Taking Stocks, Working Paper No. 4, Finance and Economics Discussion Series …” „… ; Iwaisako, Tokuo (1995): Explaining Asset Price Bubbles in Japan, Working Paper No. 5358, National Bureau …” „… . 299–362 Diba, Behzad T.; Grossman, Herschel L. (1988): Explosive Rational Bubbles in Stock Prices?, in …”

„… . – Erklärungsansätze 164 ff. Bodenrichtwerte 270 f. Bubbles 159 ff. C Capital Asset Pricing Model (CAPM) 305 f., 444 …” „… . Affordability (Erschwinglichkeit) 182 f. Anschaffungskosten 461, 462 Arithmetisches Mittel 63 ff. Asset Meltdown …” „… Mixed-Asset-Portfolios 252 ff. Modalwert 60 f. Monte Carlo-Simulation 337 Moral Hazard 174 ff. Mortgage Backed …”

„… mittels eines bestimmten Kursverlaufsmusters beschrieben: “[…] a Bubble is an upward price movement over …” „… als ‚bubbles‘ bezeichnet. Im weiteren Verlauf dieses Beitrags wird der deutsche Ausdruck ‚Preisblase …” „… auftretender Preisanstieg definiert – dieser wird in der Literatur häufig als Boom oder Asset-Boom bezeichnet …”

„… , T. (2001). Prospect Theory and Asset Prices. Quarterly Journal of Economics 116, 1 – 53.Barberis, N …” „… ., Laibson, D., Mollerstrom, J. (2011). Asset bubbles and the cost of economic fluctuations. Journal of Money …” „… .Coval, J., Moskowitz, T. (2001). The Geography of Investment: lnformed Trading and Asset Prices. Journal …”

„… Portfolios halten. Aufklärung und Sensibilisierung für die Vorteile von Asset Allocation und …” „… , Price, and Profit When All Traders Are Above Average« (Volumen, Volatilität, Preis und Gewinn, wenn alle …”

„… Kursverlaufsmusters beschrieben: So ist nach Kindleberger eine Bubble „an upward price movement over an extended …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221 5.4.1.1.1 Price-Rent Ratio . . . . . . . . . . . . . . . . . . . . . . . . . 221 5.4.1.1.2 …” „… Price-Income Ratio . . . . . . . . . . . . . . . . . . . . . . 223 5.4.1.1.3 Affordability …”

„… , G.,Pormerleano, M. (Hrsg.), Asset Price Bubbles: TheImplications for Monetary, Regulatory and International …” „… . 47–60.EZB, Asset Price Bubbles and Monetary Policy Revisited, in:Monthly Bulletin of the European …” „… resultieren.LiteraturBernanke, B.S.,Gertler, M., Should Central Banks Respond to Movements in Asset Prices, in: American …”