@techreport{Belke2010Financial,
abstract = {We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and roll back credit easing in order to prevent inflation. The exits should be step-by-step rather than one-off. Communicating about the exit strategy must be an integral part of the exit strategy. Price stability should take precedence in all decisions. Due to vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable practical problems of coordinating exit with asymmetric country interests, however, the ECB should go ahead - perhaps joint with some Far Eastern economies. Coordination of monetary and fiscal exit would undermine ECB independence and is also technically out of reach within the euro area.},
address = {Berlin},
author = {Ansgar Belke},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E52; E58; F42; E63; 330; Exit strategies; international policy coordination and transmission; open market operations; unorthodox monetary policy; Finanzmarktkrise; Gesamtwirtschaftliche Liquidit\"{a}t; Geldpolitik; Internationale wirtschaftspolitische Koordination; Geldmenge; Inflationsbek\"{a}mpfung; EU-Staaten; Welt},
language = {eng},
number = {995},
publisher = {DIW},
title = {Financial crisis, global liquidity and monetary exit strategies},
type = {Discussion papers // German Institute for Economic Research},
url = {http://hdl.handle.net/10419/36746},
year = {2010}
}

