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No other illness is associated with the same stigma, isolation and low policy priority.
Now, in many countries, it is unsustainably low, policy makers argue.
Jeremy Stein of Harvard University, a discussant of Mr Greenspan's Brookings paper, points out that low policy rates may have mattered a great deal for income-constrained borrowers.
While the United States is the best-known case, a combination of lax regulation and supervision of banks and low policy interest rates fueled similar bubbles in the United Kingdom, Spain, Ireland, Iceland, and Dubai.
Some that have high per capita income – for example, Israel, Hong Kong, and Singapore – have low inflation and want to maintain low policy interest rates to prevent exchange-rate appreciation against major currencies.
Several economists have argued convincingly, for instance, that low policy rates fuelled broader leverage growth in securitised markets.Monetary policy may be a blunt tool to deal with asset bubbles.
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All too often, business owners select a low insurance policy and then forget about it while the rates rise.
Salaries were still low, policies were inconsistent, and reports of abusive behavior among advisors continued.
If the pressure for implementation is low, policies are implemented slowly.
World grain prices rose sharply during 1995 and further price increases are possible given the unusually low policy-induced stocks and problematic growing conditions in several producing areas.
Solving global warming has become their lowest policy priority, according to a new Pew survey.
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CEO of Professional Science Editing for Scientists @ prosciediting.com