Research on central banking is a growth industry. A computer search on the phrase central banking conducted on econlit, turned up 980 references in the 1970s, 1929 in the 1980s and a staggering 4921 in the 1900s. Performance like that does not quite match the stock market, but it is close. I will leave it to Bob Shiller to decide whether this growth reflects solid fundamentals or a faddish irrational exuberance, But I will wager that the academic literature on central banking will fall into a slump comparable to the Nasdaq.
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Paper provided by Princeton University, Department of Economics, Center for Economic Policy Studies. in its series Working Papers with number
116.
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