I recommend taking a look at the special issue on ‘Integrating Hebbian and Homeostatic plasticity’ which was just published in Phil Trans of the Royal Society B. You can find the table of contents at http://rstb.royalsocietypublishing.org/content/372/1715. The issue is based on a fruitful discussion meeting in London in April 2016 and combines multiple contributions from both theory and experiment. It offers an excellent overview of the state of the art in research on Hebbian and homeostatic plasticity.
The issue also includes a paper by Wulfram and myself and our take on the role of negative feedback processes on different timescales. In this paper we suggest a division of labor between rapid compensatory processes (RCP) which act on short timescales, which are comparable with the timescales of plasticity induction, and homeostatic mechanisms which act on homeostatic timescales of hours or days.