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Exploring the Dynamics of Global Liquidity

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 noncore liabilities of financial intermediatires and a corresponding price series. Using pr...

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Bibliographic Details
Main Author: Chen, Sally
Other Authors: Liu, Philip, Maechler, Andrea, Marsh, Chris
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Working Papers
Subjects:
Public Administration
International Liquidity
Finance
Financial Crises
Financial Statements
Liquidity; Economics
International Financial Markets
Global Financial Crisis, 2008-2009
Global Financial Crisis Of 2008-2009
Capital And Ownership Structure
Accounting
Goodwill
Public Sector Accounting And Audits
Macroeconomics
Public Financial Management (pfm)
Financial Reporting, Financial Statements
Economic Theory
Financial Risk And Risk Management
Financing Policy
Investment Decisions
International Finance
Supply And Demand
Economic & Financial Crises & Disasters
General Financial Markets: Government Policy And Regulation
Value Of Firms
Supply Shocks
Economic Theory & Philosophy
Asset And Liability Management
Liquidity
Finance, Public; Accounting
Prices
Agriculture: Aggregate Supply And Demand Analysis
'panel Data Models
Finance: General
Portfolio Choice
Spatio-temporal Models'
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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 noncore liabilities of financial intermediatires and a corresponding price series. Using price and quantity indicators simultaneously, it is possible to distinguish between shocks to the supply and demand for global liquidity, and isolate their impact on the economy. Our results confirm that global liquidity conditions matter for economic and financial stability, and points to indicators whose regular monitoring could be valuable to policymakers. 
Physical Description:47 pages
ISBN:9781475512793

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