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 …

This paper examines how global liquidity responds to a US (United States) monetary policy shock, and whether global … liquidity has effects on global imbalances. To this end we estimate regression and Panel-VARX models using data from the G5 (US …, United Kingdom, Euro area, Japan and Canada) and 20 emerging countries. The empirical results show that global liquidity is …

abrupt and deep collapse in world trade, while other world-wide recessions had more moderate effects on world trade. This … Augmented VAR) to show that global liquidity shocks are important factors in explaining the huge and abrupt trade drops in Asia …

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 …