1521–1534; and Mishkin, F. (2004), “Can Central Bank Transparency Go Too Far?”, NBER Working Papers, No 10829. 10 On a bigger scale, this relates to an issue I have commented upon extensively in recent times: the threat of  hysteresis. See Cœuré, B. (2017), “Scars or scratches?
Hysteresis in the euro area”, speech at the International Center for Monetary and Banking Studies, Geneva, 19 May; and Cœuré, B. (2018), “Scars that never were? Potential output and slack after the crisis”, speech at the CEPII 40th Anniversary Conference, Paris, 12 April.