Pisani-Ferry, J., Sapir, A., Veron, N., and Wolff, G. B., 2012. What kind of European Banking Union, Bruegel Policy Contributions, n. 12, June 2012. Rossi, S., 2013. Post-crisis challenges to central bank independence, speech given at the LBMA/LPPM Precious Metals Conference. Rossi, S., 2014.
For example, during the bubble period many presented a seemingly plausible argument that a rapid rise in property prices in Tokyo could be justified in view of the increasing role of Tokyo as an international financial center, but which could not be proved to be true at the time. Inevitably, the central bank always faces two risks. They are similar to statistical errors.