Building on Bali: A Work Programme for the WTO

Simon J Evenett, Alejandro Jara, 18 December 2013

The successful conclusion of the Bali Ministerial Conference and its terrific reception in the international press and from government leaders means that the WTO now has the opportunity to restore its fortunes. This VoxEU eBook brings together 27 contributions from leading international trade experts and practitioners to identify a pragmatic, feasible, and comprehensive work programme for the WTO over the next four years.

Growth in Mature Economies: The First CEPR-Modena Conference

Lucrezia Reichlin, Ferdinando Giugliano, 7 November 2013

The 9-10 November 2012 conference in Modena was the first in a series of events aimed at sharing different ideas and perspectives on a key policy issue – what can stimulate sustained growth in economies that cannot simply add more capital or import technologies developed abroad? This is an important question not only in the short run, but also over the longer term and population ageing begins to affect these mature economies.

Understanding Banks in Emerging Markets: Observing, Asking or Experimenting?

Thorsten Beck, Ralph De Haas, Steven Ongena, 6 November 2013

Banking is often modelled as a black box, especially in emerging markets where details of bank operations are less widely appreciated. This VoxEU eBook brings together a collection of papers to help open up the black box.

Forward Guidance: Perspectives from Central Bankers, Scholars and Market Participants

Wouter den Haan, 23 October 2013

This Vox eBook brings together a collection of contributions from central bank officials, researchers at universities and central banks, and financial market practitioners to discuss what economic theory says about forward guidance and to clarify what central banks hope to achieve with it.

Exit Strategy

Alan S. Blinder, Thomas J. Jordan, Donald Kohn, Frederic S. Mishkin, 10 October 2013

Central banks have broken new ground in the aftermath of the Great Financial Crisis. They have brought interest rates down very close to the zero lower bound and have committed to keeping them there for an extended period of time. They have multiplied the sizes of their balance sheets several times over. Hopefully, the exceptional circumstances that led to these extraordinary measures will dissipate. Undoing extraordinary actions is bound to be out of the ordinary, and therefore fraught with difficulties, if not dangers. The exit strategy, as the pending operation is called, needs to be thought through with great care.

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