inappropriate characterizations of monetary policy, as well as to ill-defined discussions of liquidity effects, the bank lending …

Central banks repo market operations and liquidity infusions occasion a structural liquidity mismatch in bank balance … sheets and increase the dependence on central bank liquidity. This paper argues for what I term “Circular Monetary Economics …”, an approach to monetary policy that seeks to green and prudentially insulate the design and implementation of liquidity …

This study constructs and examines the dynamics of theoretical and atheoretical measures of global liquidity, using … economic activity and the lag of cyclical components of the measures of global liquidity to gauge the strength of their … financial and liquidity conditions, and policy stance. Their cyclical components are also strongly associated with those of …

of non-conventional monetary policies has provided some evidence on the efficacy of liquidity and asset purchases for … balance sheet operations supply (remove) liquidity to a financial market that is otherwise short (long) of liquidity and hence … reserves ; monetar & fiscal policy instruments ; Basel III. …

dated government bonds with borrowed central bank reserves and so has increased the liquidity of the non-bank financial … liquidity premium embedded in long term bonds and/or (ii) adopting countercyclical subsidies to bank capital able and/or (iii …

substantial quantities of liquidity into the financial system and seen their balance sheets expand to multiples of GDP. We outline …'s budget constraint. We briefly outline the recent experience with QE and draw a distinction between liquidity and …