, central bank liquidity provision was larger in 2008-09 than in 1931, when it had been constrained in many countries by the … gold standard. Liquidity shortages destroyed the international monetary system in 1931. By contrast, central bank liquidity … could be, and was, provided much more freely in the flexible exchange rate environment of 2008-9. The amount of liquidity …

decline in the level of steady state output, relative to the baseline. The impact of the new liquidity regulation is of a …

We explore the concept of global liquidity based on a factor model estimated using a large set of financial and … macroeconomic variables from 24 advanced and emerging market economies. We measure global liquidity conditions based on the common … global factors in the dynamics of liquidity indicators. By imposing theoretically motivated sign restrictions on factor …

We examine the liquidity effects of the euro area sovereign debt crisis, including its effects on euro area banks as a … group, on intra-euro area financial flows, on the supply of and demand for collateral, and on international liquidity. The … deficit countries and its collateral policy. The euro crisis has also created international liquidity stresses. We find that …