Exit Strategies

Exit Strategies from The Global Crisis

While the form of crises may change, their essence remains the same (such as a cycle of abundant liquidity, rapid credit growth, and a low-inflation environment followed by an asset-price bubble). The current market turbulence began in mid-2000s when the US economy shifted to imbalanced both internal and external macroeconomic positions. We see two key causes of these problems – loose US moneta...

The Deflationary Bias of Exit Strategies in the Emu Countries

Financial Crises, Unconventional Monetary Policy Exit Strategies, and Agents’ Expectations

This paper studies the implications of exit strategies from unconventional monetary policy. Using a Markov switching DSGE model with financial frictions, agents in the model have rational expectations about the probability of financial crises, the probability of an unconventional response to crises, and the exit strategy used. Selling offassets quickly produces a double-dip recession; in contra...

Entrepreneurial Exit Strategies: the Impact of Human Capital

Although researchers in such diverse fields as economics and organizational sociology have explored firm exit, little research has explored entrepreneurial exit–the decision by the majority-owner founders of privately-held firms to harvest their profits and remove themselves from the primary ownership and decision-making structure of the firm. Yet, all entrepreneurs in one way or another will l...

Hearing loss and disability exit: Measurement issues and coping strategies.

Hearing loss is one of the most common conditions related to aging, and previous descriptive evidence links it to early exit from the labor market. These studies are usually based on self-reported hearing difficulties, which are potentially endogenous to labor supply. We use unique representative data collected in the spring of 2005 through in-home interviews. The data contains self-reported fu...