Liquidity, inflation and asset prices in a timevarying framework for the euro area. NBB Working Papers. No. 142, 16 October 2008
(2008) Liquidity, inflation and asset prices in a timevarying framework for the euro area. NBB Working Papers. No. 142, 16 October 2008.
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Abstract
In this paper, we investigate how the dynamic effects of excess liquidity shocks on economic activity, asset prices and inflation differ over time. We show that the impact varies considerably over time, depends on the source of increased liquidity (M1, M3-M1 or credit) and the underlying state of the economy (asset price boom-bust, business cycle, inflation cycle, credit cycle and monetary policy stance).
| Item Type: | Working Paper |
|---|---|
| Public Domain: | No |
| Refereed: | No |
| Status: | Published |
| Authors, Individual: | Baumeister, Christiane and Durinck, Eveline and Peersman, Gert. |
| Title: | Liquidity, inflation and asset prices in a timevarying framework for the euro area. NBB Working Papers. No. 142, 16 October 2008 |
| Language: | English |
| Journals and Series: | Series > National Bank of Belgium (Brussels) > Working Papers |
| Pages: | 55 |
| Month: | October |
| Year: | 2008 |
| Subjects: | EU policies and themes > Policies & related activities > economic and financial affairs > monetary policy EU policies and themes > Policies & related activities > economic and financial affairs > general EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro |
| Alternative Locations: | http://www.nbb.be/doc/ts/publications/wp/wp142En.pdf |
| ID Code: | 10990 |
| Deposited By: | Wilkin, Phil |
| Deposited On: | 01 June 2009 |
