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International Center for Monetary and Banking Studies (ICMB) International Center for Monetary and Banking Studies 2, Chemin Eugène-Rigot 1202 Geneva Switzerland Tel: (41 22) 734 9548 Fax: (41 22) 733 3853 Web: www.icmb.ch © September 2014 International Center for Monetary and Banking Studies Centre for Economic Policy Research Centre for Economic Policy Research 3rd Floor 77 Bastwick Street London EC1V 3PZ UK Tel: +44 (20) 7183 8801 Fax: +44 (20) 7183 8820 Email: cepr@cepr.org Web: www.cepr.org ISBN: 978-1-907142-79-6
Deleveraging What Deleveraging Geneva Reports on the World Economy 16 Luigi Buttiglione Brevan Howard Investment Products Philip R. Lane Trinity College Dublin Lucrezia Reichlin London Business School Vincent Reinhart Morgan Stanley ICMB International Center For Monetary and Banking Studies CIMB CENTRE INTERNATIONAL D’ETUDES MONETAIRES ET BANCAIRES CEPR PRESS
Page 1: Geneva Reports on the World Economy
Page 6 and 7: International Center for Monetary a
Page 8 and 9: Acknowledgements We thank Susan Lun
Page 11 and 12: List of Conference Participants Edm
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Page 15 and 16: List of Conference Participants xii
Page 17: Foreword Since 1999 the Geneva Repo
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Page 29 and 30: 2 Global debt analysis: Deleveragin
Page 31 and 32: Global debt analysis: Deleveraging
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Page 35: Global debt analysis: Deleveraging
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6 Discussions Morning discussion Ma
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Discussions 89 He also agreed with
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Discussions 91 urged the authors to
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Discussions 93 moving demographic c
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Discussions 95 about potential GDP
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Discussions 97 when there is no com
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Discussions 99 In response to Laure
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Data Appendix Debt typically expres
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References Adrian, T., E. Moench an
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References 105 Jorda, O., M. Schula
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It is widely accepted that high lev
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