Sally F. (Sally Fangnan) Chen; Liu, Philip; Maechler, … - International Monetary Fund (IMF) - 2012
This paper explores the concept of global liquidity, its measurement and macro-financial importance. We construct two … sets of indicators for global liquidity: a quantity series distinguishing between core and noncore liabilities of financial … between shocks to the supply and demand for global liquidity, and isolate their impact on the economy. Our results confirm …