Baumeister, Christiane and Durinck, Eveline and Peersman, Gert. (2008) Liquidity, inflation and asset prices in a timevarying framework for the euro area. NBB Working Papers. No. 142, 16 October 2008. [Working Paper]
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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).
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| Item Type: | Working Paper |
|---|---|
| Subjects for non-EU documents: | 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 |
| Subjects for EU documents: | UNSPECIFIED |
| EU Series and Periodicals: | UNSPECIFIED |
| EU Annual Reports: | UNSPECIFIED |
| Series: | Series > National Bank of Belgium (Brussels) > Working Papers |
| Depositing User: | Phil Wilkin |
| Official EU Document: | No |
| Language: | English |
| Date Deposited: | 01 Jun 2009 |
| Page Range: | p. 55 |
| Last Modified: | 15 Feb 2011 18:11 |
| URI: | http://aei.pitt.edu/id/eprint/10990 |
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