Liquidity, inflation and asset prices in a time-varying framework for the euro area
Christiane Baumeister (),
Eveline Durinck () and
Gert Peersman ()
Additional contact information
Eveline Durinck: Ghent University
Gert Peersman: Ghent University
No 142, Working Paper Research from National Bank of Belgium
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).
Keywords: Liquidity; asset prices; inflation; time-varying coefficients (search for similar items in EconPapers)
JEL-codes: E31 E32 E44 E51 E52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (10) Track citations by RSS feed
Downloads: (external link)
Working Paper: Liquidity, Inflation and Asset Prices in a Time-Varying Framework for the Euro Area
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:nbb:reswpp:200810-17
Access Statistics for this paper
More papers in Working Paper Research from National Bank of Belgium Contact information at EDIRC.
Series data maintained by ().