. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods … continue to focus only on price stability. -- Asset prices ; China ; current account adjustment ; global liquidity ; oil prices … the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served …

commodity prices rise worldwide unless interrupted by an international banking crisis. This cyclical inflation on the dollar … People's Republic of China (PRC) is forced to keep its interest rates below market-clearing levels, it also suffers from …

"We identify incentives generated by the Bretton Woods II system that may have contributed to the sub-prime liquidity … liquidity crisis is or will become a balance of payments crisis for the United States. Given that it happens, the additional … that will help limit the damage from the liquidity crisis"--National Bureau of Economic Research web site …