Showing 1 - 10 of 12
, 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/10003934679
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
Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates … consumer goods. -- Global liquidity ; inflation control ; monetary policy transmission ; asset prices …
Persistent link: https://www.econbiz.de/10003889489
Die aktuellen Finanzmarktturbulenzen wurden durch Entwicklungen im Immobiliensektor ausgelöst. Vor diesem Hintergrund analysiert dieser Beitrag den Zusammenhang zwischen den Immobilienpreisen und der Geldmengen- und Kreditvolumensentwicklung für den Zeitraum 1992 -2006 (westdeutsche...
Persistent link: https://www.econbiz.de/10003904552
This paper investigates the relationship between global liquidity and commodity and food prices applying a global … cointegrated vector-autoregressive model. We use different measures of global liquidity and various indices of commodity and food … liquidity and the development of food and commodity prices, and that food and commodity prices adjust significantly to this …
Persistent link: https://www.econbiz.de/10009579223
area. According to our results, global liquidity shocks are a driving force of the global economy and various national … indicate that global liquidity shocks have recently become more important as a determinant for house prices. In general, global …
Persistent link: https://www.econbiz.de/10003879570
We assess the differences that emerge in Taylor rule estimations for the ECB when using ex-post data instead of real time forecasts and vice versa. We argue that previous comparative studies in this field mixed up two separate effects. First, the differences resulting from the use of ex-post and...
Persistent link: https://www.econbiz.de/10003872913
We assess differences that emerge in Taylor rule estimations for the Fed and the ECB before and after the start of the subprime crisis. For this purpose, we apply an explicit estimate of the equilibrium real interest rate and of potential output in order to account for variations within these...
Persistent link: https://www.econbiz.de/10003931051
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10009579330