Tag Archives: Alan Greenspan

Bubble trouble: all information is not equal

This post is partly prompted by this comment and this paper (pdf) (via) on the US housing price bubbles and busts and (greatly) extends this comment by myself. It is also a response to the work of mathematician-turned-historian Andrew Odlyzko. In a previous post, I argued that easy monetary policy was not to blame for the asset booms […]

Bubble trouble: not an easy money problem

The notion that “easy money” created asset booms is levelled (famously by Austrian school economists such as von Mises and Hayek) against the 1920s boom and by a range of commentators about the Great Moderation boom. In both cases, the Fed (dominated by Benjamin Strong as New York Fed Governor up to 1928 and by Alan Greenspan as Fed Chair 1987-2006) is held to be to […]