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.
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.
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.
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.
This VoxEU eBook, containing 19 essays from leading Asian and international trade experts, dissects important changes taking place in the world trading system and explores policy implications for Asia.
Other Recent ePubs:
- Is inflation targeting dead? Central Banking After the Crisis
- Race for the WTO Director-General job: Seven candidates speak
- Banking Union for Europe - Risks and Challenges
- Austerity: Too Much of a Good Thing?
- The Future of Banking
- Dodd-Frank: One year on…
- Next Steps: Getting Past the Doha Round Crisis
- Why World Leaders Must Resist the False Promise of a Doha Delay
- Completing the Eurozone rescue: What more needs to be done
- The collapse of global trade, murky protectionism, and the crisis: Recommendations for the G20
- What world leaders should do to halt the spread of protectionism
- What G20 leaders must do to stabilise our economy and fix the financial system
- Rescuing our jobs and savings: What G7/8 leaders can do to solve the global credit crisis
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013