CHAPTER 7: CENTRAL BANK RESURRECTION

1. Mario Draghi, speech to the Global Investment Council, European Central Bank, July 26, 2012, http://www.ecb.europa.eu/press/key/date/2012/html/sp120726.en.html.

2. Jack Ewing and Binyamin Appelbaum, “A Stress Test for Mario Draghi and the European Central Bank,” New York Times, January 3, 2015, http://www.nytimes.com/2015/01/04/business/stress-test-for-mario-draghi.html.

3. Philip Turner, “The Exit from Non-Conventional Monetary Policy: What Challenges?,” BIS Working Paper 448, 2014, May, http://www.bis.org/publ/work448.pdf.

4. “Monetary Policy Struggles to Normalize,” BIS Annual Report, June 29, 2014, Bank for International Settlements, http://www.bis.org/publ/arpdf/ar2014e5.htm.

5. Mohamed A. El-Erian, “Parsing Draghi’s QE Gambit,” Bloomberg View, January 23, 2015,See also Mohamed A. El-Erian, “The ECB Can Only Buy Time for Europe’s Politicians,” Financial Times, January 22, 2015, http://www.ft.com/intl/cms/s/0/957b9ddc-a241-11e4-bbb8-00144feab7de.html.

6. Tracy Alloway, “Markets’ Misplaced Faith in Central Banks,” Financial Times, January 23, 2015, http://www.ft.com/intl/cms/s/0/2ad516fa-a2d4-11e4-ac1c-00144feab7de.html.

7. Hyman Minsky, “The Financial Instability Hypothesis,” Working Paper No. 74, Levy Economics Institute of Bard College, 1992.

8. Mohamed A. El-Erian, “Beware of Calls for QE4,” Financial Times, October 17, 2014, http://blogs.ft.com/the-a-list/2014/10/17/beware-of-calls-for-qe4/.

9. Chris Giles, “Carney Warns on Low Interest Rates,” Financial Times, January 24, 2015, http://www.ft.com/intl/cms/s/0/c20266fe-a3fb-11e4-b90d-00144feab7de.html.

10. Timothy F. Geithner, Stress Test: Reflections on Financial Crises (New York: Crown, 2014).

CHAPTER 8: SETTING THE STAGE

1. Jim Grant, “Monetary Policy Is a Virus That Infects Politics,” Financial Times, January 5, 2015, http://www.ft.com/intl/cms/s/0/14078740-9277-11e4-a1fd-00144feabdc0.html.

2. “The World Economy: In Need of New Oomph,” Economist, May 24, 2014, http://www.economist.com/news/leaders/21602698-how-make-rich-worlds-recovery-stronger-and-safer-need-new-oomph.

3. “In Search of a New Compass,” Bank for International Settlements, June 29, 2014, http://www.bis.org/publ/arpdf/ar2014e1.htm.

4. E. S. Browning, “The ‘Investor’s Dilemma’: Everything Is Expensive,” Wall Street Journal, August 24, 2014, http://blogs.wsj.com/moneybeat/2014/08/24/the-investors-dilemma-everything-is-expensive/.

5. Lawrence H. Summers, “Reflection on the ‘New Secular Stagnation Hypotheses,’ ” in Coen Tuelings and Richard Baldwin, eds., Secular Stagnation: Facts, Causes, and Cures (London: CEPR Press, 2014), http://www.voxeu.org/sites/default/files/Vox_secular_stagnation.pdf.

CHAPTER 9: THE QUEST OF A GENERATION

1. Mohamed A. El-Erian, “The Global Growth Quest,” Project Syndicate, April 9, 2013, http://www.project-syndicate.org/commentary/the-worldwide-search-for-new-growth-models-by-mohamed-a--el-erian.

2. Matt O’Brien, “Greece’s Poor Are Back to Where They Were in 1980,” Washington Post, April 10, 2015,blog/wp/2015/04/10/greeces-poor-are-back-to-where-they-were-in-1980/.

3. “Mohamed A. El-Erian Discusses PIMCO’s Secular Outlook and Investment Implications,” Economic Outlook, PIMCO, May 2009, http://europe.pimco.com/EN/Insights/Pages/Secular%20Outlook%20Q%20and%20A%20May%202009%20El-Erian.aspx.

4. Jim Pearce, “The New Normal—Six Years Later,” Investing Daily, January 30, 2015, http://www.investingdaily.com/22053/the-new-normal-six-years-later-2/.

5. Mohamed A. El-Erian, “The ‘New Normal’ and Its Consequential Morphing,” Journal of Indexes, November 22, 2013, http://europe.etf.com/europe/publications/journal-of-indexes/articles/9398-the-new-normal-and-its-consequential-morphing.html?start=6&Itemid=200.

6. Mohamed A. El-Erian, “ ‘The New Normal’ Has Been Devastating for America,” Business Insider, March 22, 2014, http://www.businessinsider.com/el-erian-state-of-the-new-normal-2014-3.

7. Mohamed A. El-Erian, “Europe Must Pay Heed to Japan’s New Slide,” Bloomberg View, November 18, 2014, http://www.bloombergview.com/articles/2014-11-18/europe-must-pay-heed-to-japans-new-slide.

8. Mohamed A. El-Erian, “Could America Turn Out Worse than Japan?,” Reuters, October 31, 2011, http://blogs.reuters.com/mohamed-el-erian/2011/10/31/could-america-turn-out-worse-than-japan-2/.

9. Lawrence H. Summers, “U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound,” Business Economics 49, no. 2 (2014), http://larrysummers.com/wp-content/uploads/2014/06/NABE-speech-Lawrence-H.-Summers1.pdf.