activities due to international liquidity shortages. To probe this explanation, this paper analyzes the macroeconomic effects of … adverse international liquidity shocks for eleven Euro Area countries between 2003 and 2013 on a quarterly basis. The … international liquidity shocks are identified by applying a panel vector autoregressive (VAR) model with sign restrictions. The …

This paper exploits a novel bank-level monthly dataset to assess the effects of global liquidity on the global flows of … supports a range of determinants of global liquidity - including global risk, global bank equity and unconventional monetary … indicates heterogeneity in the influence of global liquidity on global flows across euro area bank type, defined by their …

We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on … on interbank access and volume is stronger than on spreads. Liquidity supply restrictions are exacerbated for cross … price dispersion substantially decreases when the Eurosystem promises unlimited access to liquidity at a fixed price in …

) on economic growth and employment. On the panel of 18 countries for the period from 1996 to 2013, I tested the hypothesis …