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Global Liquidity and Asset Prices

Global Liquidity and Asset Prices »

Source: Global Liquidity and Asset Prices : Measurement, Implications, and Spillovers

Volume/Issue: 1999/168

Series: IMF Working Papers

Author(s): Klaas Baks , and Charles Kramer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

ISBN: 9781451858242

Keywords: Liquidity, money growth, international spillovers, monetary policy, real interest rates, monetary aggregates

Much recent commentary suggests that global liquidity has influenced financial conditions in the major international markets to an important degree, and that excess liquidity in one financial center can influence f...

Global Liquidity, House Prices, and the Macroeconomy

Global Liquidity, House Prices, and the Macroeconomy »

Source: Global Liquidity, House Prices, and the Macroeconomy : Evidence from Advanced and Emerging Economies

Volume/Issue: 2015/23

Series: IMF Working Papers

Author(s): Ambrogio Cesa-Bianchi , Luis Felipe Cespedes , and Alessandro Rebucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 January 2015

ISBN: 9781484346037

Keywords: C32, E44, F44, economies, liquidity, advanced economies, exchange rate, Time-Series Models, Financial Markets and the Macroeconomy, International Business Cycles

In this paper we first compare house price cycles in advanced and emerging economies using a new quarterly house price data set covering the period 1990-2012. We find that house prices in emerging economies grow fa...

Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses*

Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses* »

Source: Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses

Volume/Issue: 2017/222

Series: IMF Working Papers

Author(s): Woon Choi , Taesu Kang , Geun-Young Kim , and Byongju Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2017

ISBN: 9781484325216

Keywords: Global liquidity, Inflation targeting, Panel Factor-Augmented VAR, International Policy Coordination and Transmission

This paper distills and identifies global liquidity (GL) momenta from the macro-financial data of advanced economies through a factor model with sign restrictions as policy-driven, market-driven, and risk aversenes...

House Price Synchronicity, Banking Integration, and Global Financial Conditions

House Price Synchronicity, Banking Integration, and Global Financial Conditions »

Source: House Price Synchronicity, Banking Integration, and Global Financial Conditions

Volume/Issue: 2018/250

Series: IMF Working Papers

Author(s): Adrian Alter , Jane Dokko , and Dulani Seneviratne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2018

ISBN: 9781484385692

Keywords: Housing market; global liquidity; financial conditions; banking intergration; business cycles, Housing market, global liquidity, financial conditions, banking intergration, business cycles, General, International Policy Coordination and Transmission, International Business Cycles

We examine the relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades. The role played by cross-border banking flows in re...

How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis

How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis »

Source: How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis

Volume/Issue: 2009/204

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873511

Keywords: Crisis, policy, announcement, event, financial, monetary, fiscal, bank, bank bailouts, recapitalization

This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidit...

The Global Financial Crisis
			: Impact on WAEMU Member Countries and Policy Options

The Global Financial Crisis : Impact on WAEMU Member Countries and Policy Options »

Volume/Issue: 2009/16

Series: IMF Staff Position Notes

Author(s): Johannes Mueller , Irene Yackovlev , and Hans Weisfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2009

DOI: http://dx.doi.org/10.5089/9781455229017.004

ISBN: 9781455229017

Keywords: Current account deficits, Credit risk, Banking sector, Bank supervision, Aid flows, External shocks, Financial crisis, Monetary unions, Monetary policy, Liquidity management

Most WAEMU countries are likely to see economic growth deteriorate over the next two years as a result of the global economic crisis, and some WAEMU countries will be more severely affected by the crisis than other...

Bank Funding Structures and Risk
			: Evidence From the Global Financial Crisis

Bank Funding Structures and Risk : Evidence From the Global Financial Crisis »

Volume/Issue: 2012/29

Series: IMF Working Papers

Author(s): Pablo Federico , and Francisco Vazquez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463933142.001

ISBN: 9781463933142

Keywords: pre-crisis, bank failure, bank liquidity, global financial crisis, Financial Institutions and Services: Government Policy and Regulation, Bank Liquidity Creation, Basel Iii, Macro-prudential Regulations,

This paper analyzes the evolution of bank funding structures in the run up to the global financial crisis and studies the implications for financial stability, exploiting a bank-level dataset that covers about 11,0...

Does Global Liquidity Matter for Monetary Policy in the Euro Area?

Does Global Liquidity Matter for Monetary Policy in the Euro Area? »

Volume/Issue: 2009/17

Series: IMF Working Papers

Author(s): Helge Berger , and Thomas Harjes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

DOI: http://dx.doi.org/10.5089/9781451871647.001

ISBN: 9781451871647

Keywords: Global excess liquidity, interest rate channel, forecasting accuracy, price level, money stock, monetary aggregates,

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 app...

Exploring the Dynamics of Global Liquidity

Exploring the Dynamics of Global Liquidity »

Volume/Issue: 2012/246

Series: IMF Working Papers

Author(s): Sally Chen , Philip Liu , Andrea Maechler , Chris Marsh , Sergejs Saksonovs , and Hyun Shin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2012

DOI: http://dx.doi.org/10.5089/9781475512793.001

ISBN: 9781475512793

Keywords: core and noncore financial liabilities, growth, global liquidity, external liabilities, global financial crisis, global financial stability, central bank, Models with Panel Data, Government Policy and Regulation,

This paper explores the concept of global liquidity, its measurement and macro-financial importance. We construct two sets of indicators for global liquidity: a quantity series distinguishing between core and nonco...

From Lombard Street to Avenida Paulista
			: Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09

From Lombard Street to Avenida Paulista : Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09 »

Volume/Issue: 2009/259

Series: IMF Working Papers

Author(s): Mark Stone , W. Christopher Walker , and Yosuke Yasui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2009

DOI: http://dx.doi.org/10.5089/9781451874051.001

ISBN: 9781451874051

Keywords: exchange rate intervention, swaps, implied volatility, foreign exchange, foreign exchange liquidity, exchange rate, foreign exchange market, spot exchange rate,

The provision of foreign exchange liquidity by emerging market central banks during the global shock of 2008-09 departs from the domestic liquidity lender of last resort role described by Bagehot in his classic "Lo...