Report

Geneva Reports on the World Economy

Geneva 15: Exit Strategy

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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Citation

Mishkin, F, T Jordan, D Kohn and A Blinder (eds) (2013), ‘Geneva 15: Exit Strategy‘, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Mishkin, F (2013), ‘Exit to What?‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Wyplosz, C (2013), ‘Introduction and Acknowledgements‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Blinder, A (2013), ‘Exit to What? The Status Quo Ante or Some New Normal?‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Coeuré, B, L Reichlin and J Callow (2013), ‘Discussion: The New Normal‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Kohn, D (2013), ‘When and How to Exit: Issues Related to the Transition‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Nishimura, K, H Pill and L Bini Smaghi (2013), ‘Discussion: How to Prepare for Exit and What Order of Exit?‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy

Citation

Jordan, T (2013), ‘Exit to a New Macroprudential Framework: The Swiss Approach‘, in Mishkin, F, T Jordan, D Kohn and A Blinder (eds), Geneva 15: Exit Strategy, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/geneva-15-exit-strategy