Does Global Liquidity Matter for Monetary Policy in the Euro Area? / / Helge Berger, Thomas Harjes
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| Autore: |
Berger Helge
|
| Titolo: |
Does Global Liquidity Matter for Monetary Policy in the Euro Area? / / Helge Berger, Thomas Harjes
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2009 |
| Descrizione fisica: | 24 p. : ill |
| Soggetto topico: | Liquidity (Economics) |
| Monetary policy - Europe | |
| Finance: General | |
| Inflation | |
| Time-Series Models | |
| Dynamic Quantile Regressions | |
| Dynamic Treatment Effect Models | |
| Diffusion Processes | |
| Forecasting and Other Model Applications | |
| Price Level | |
| Deflation | |
| Monetary Policy | |
| International Policy Coordination and Transmission | |
| Portfolio Choice | |
| Investment Decisions | |
| Finance | |
| Macroeconomics | |
| Excess liquidity | |
| International liquidity | |
| Liquidity | |
| Liquidity indicators | |
| Asset and liability management | |
| Prices | |
| Liquidity management | |
| Economics | |
| International finance | |
| Soggetto geografico: | United States |
| Altri autori: |
HarjesThomas
|
| Note generali: | Bibliographic Level Mode of Issuance: Monograph |
| Nota di bibliografia: | Includes bibliographical references. |
| Sommario/riassunto: | Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for longer-term interest rate and output effects. We find that especially excess liquidity in the U.S. leads developments in euro area liquidity. U.S. excess liquidity also enters consistently positive as a determinant of euro area inflation. There is some evidence that this result may be related to a weakening of the effectiveness of monetary policy in the euro area during times of excessive U.S. liquidity. |
| Titolo autorizzato: | Does Global Liquidity Matter for Monetary Policy in the Euro Area |
| ISBN: | 1-4623-9109-5 |
| 1-4518-7164-3 | |
| 1-282-84239-0 | |
| 9786612842399 | |
| 1-4527-4402-5 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910788348403321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2009/017