In many cases, bubbles are  3  During the bubble period in Japan, the rate of increase in the CPI (all items less fresh food, after adjusting for the effect of a consumption tax hike) was 0.4 percent in fiscal 1987, 0.6 percent in fiscal 1988, and 1.6 percent in fiscal 1989.
4  BIS central bankers’ speeches  formed when the economy enjoys price stability and their bursting results in significant fluctuations in economic activity and prices later.