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 intermediatires and a corresponding price series....

Intro -- Contents -- I. INTRODUCTION -- II. IMF ARRANGEMENTS FROM 1970 TO 2004 -- III. INDICATORS OF THE GLOBAL ECONOMIC ENVIRONMENT -- IV. METHODOLOGY -- V. EMPIRICAL RESULTS -- VI. ROBUSTNESS -- VII. PREDICTING ACCESS LEVELS -- VIII. CONCLUDING REMARKS -- APPENDIX I. BACKGROUND ON IMF...

Intro -- Contents -- I. INTRODUCTION -- II. SOME BACKGROUND ON GLOBAL DEMOGRAPHIC CHANGE -- III. MODELING THE ECONOMIC IMPACT OF DEMOGRAPHIC CHANGE -- IV. HOW WILL DEMOGRAPHIC CHANGE AFFECT THE GLOBAL ECONOMY? -- V. SENSITIVITY ANALYSIS -- VI. CONCLUSIONS AND POLICY IMPLICATIONS -- Appendix: The...

Intro -- Contents -- I. INTRODUCTION -- II. TRENDS IN INTERNATIONAL FINANCIAL INTEGRATION -- III. EXTERNAL ASSET DYNAMICS -- IV. EXCHANGE RATES AND THE ADJUSTMENT PROCESS -- V. POLICY IMPLICATIONS -- VI. CONCLUDING REMARKS -- References -- APPENDIX I.