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Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10011384239
central banks. One hot topic is whether the rise in liquidity in recent years has contributed to the formation of price … limit speculative runs and negative effects on the real economy in the future. We explore the impacts of liquidity shocks on … real share and house prices and the influence of wealth prices on liquidity. VAR models are specified for the US and the …
Persistent link: https://www.econbiz.de/10011389101
elasticity of money demand after 2001 is taken into account. Measures of excess liquidity do not show significant inflation …
Persistent link: https://www.econbiz.de/10011518878
central banks. One hot topic is whether the rise in liquidity in recent years has contributed to the formation of price … limit speculative runs and negative effects on the real economy in the future. We explore the impacts of liquidity shocks on … real share and house prices and the influence of wealth prices on liquidity. VAR models are specified for the US and the …
Persistent link: https://www.econbiz.de/10003807460
Persistent link: https://www.econbiz.de/10003559677
central banks. One hot topic is whether the increase in liquidity has contributed to the formation of price bubbles in asset … liquidity shocks on real share and house prices, VAR models are specified for the US and the euro area, as well as global VARs … to control for international feedback. The analysis points to some impact of liquidity shocks on house prices, but the …
Persistent link: https://www.econbiz.de/10011518883
; excess liquidity ; money demand, monetary policy …
Persistent link: https://www.econbiz.de/10003726115
Persistent link: https://www.econbiz.de/10008697149