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drivers of asset prices are global liquidity conditions. Central banks flooded the markets with ample liquidity. Mopping up … this excess liquidity will be one major task for central banks worldwide, which needs to be done in a coordinated fashion …. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods …
Persistent link: https://www.econbiz.de/10003934687
vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable …
Persistent link: https://www.econbiz.de/10003958646
task - the coordination of the non-exit is more likely than the coordination of the exit. -- Geldpolitik ; Fiskalpolitik …
Persistent link: https://www.econbiz.de/10008855893
vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable …
Persistent link: https://www.econbiz.de/10003961040
A series of crises and emergency interest rate cuts has brought global interest rates towards zero and government debt to historical records. The paper discusses the exit options from unconventional monetary policies and unsustainable government debt. First, the paper sheds light on the...
Persistent link: https://www.econbiz.de/10008748343
, money (defined as a global liquidity aggregate) is still a key factor to determine the long-run homogeneity of commodity … considerations. The inclusion of commodity prices helps to identify a significant monetary transmission process from global liquidity … clear empirical pattern it appears justified to argue that global liquidity merits attention in the same way as the …
Persistent link: https://www.econbiz.de/10010208787
Persistent link: https://www.econbiz.de/10011895587
-type fashion. Regarding push factors, our study focuses on the relative importance of global liquidity and economic policy … and developing economies. Global liquidity, economic policy uncertainty and other risk factors, such as the US yield …
Persistent link: https://www.econbiz.de/10012314337
Persistent link: https://www.econbiz.de/10008907407
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led some commentators to argue that the ECB needs "fiscal...
Persistent link: https://www.econbiz.de/10010208780