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Global liquidity as an early warning indicator for asset price boom/bust cycles

Lucia Alessi () and Carsten Detken

Research Bulletin, 2009, vol. 8, 7-9

Abstract: Based on historical experience across 18 major OECD countries over the past 30 years, this article shows that measures of global liquidity perform well as early warning indicators of costly asset price booms. These indicators are able to signal in real time whether a developing asset price boom will have serious consequences for the real economy. JEL Classification: E37, E44, E51

Keywords: early warning indicators; asset price booms and busts (search for similar items in EconPapers)
Date: 2009-03
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