Frederic S Mishkin: How should we respond to asset price bubbles? Speech by Mr Frederic S Mishkin, Member of the Board of Governors of the US Federal Reserve System, at the Wharton Financial Institutions Center and Oliver Wyman Institute's Annual Financial Risk Roundtable, Philadelphia, Pennsylvania, 15 May 2008.
The original speech, which contains various links to the documents mentioned, can be found on the US Federal Reserve System’s website (www.federalreserve.gov)  *  *  *  Over the centuries, economies have periodically been subject to asset price bubbles – pronounced increases in asset prices that depart from fundamental values and eventually crash resoundingly.