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Optimal liquidity and economic stability /
Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess liquidity...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Colección: | IMF working paper ;
WP/12/135. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 050 | 4 | |a HG3881.5.I58 |b W67 No. 12/135eb | |
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| 100 | 1 | |a Han, Linghui, |e author. | |
| 245 | 1 | 0 | |a Optimal liquidity and economic stability / |c prepared by Linghui Han and Il Houng Lee. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (23 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 490 | 1 | |a IMF working paper ; |v WP/12/135 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed June 1, 2012). | ||
| 520 | 3 | |a Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess liquidity. This paper suggests a notional level of "optimal" liquidity beyond which asset prices will start to rise faster than the GDP deflator, thereby creating a gap between the face value and the real purchasing value of financial assets and widen the wedge in income between those with capital stock and those living on salaries. Such divergence will eventually lead to an abrupt and disorderly adjustment of the asset value, with repercussions on the real sector. | |
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Asia and Pacific Department." | ||
| 500 | |a "May 2012." | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Defining Liquidity and Optimality; III. Testing for Causality between Liquidity and Prices; IV. Relationship between liquidity and consumption; V. Summary and Conclusion; References; Annexes; A. Sources of Data and Estimation Results; B. Relationship Liquidity and Demand | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Liquidity (Economics) |x Econometric models. | |
| 650 | 0 | |a Monetary policy |x Econometric models. | |
| 650 | 6 | |a Liquidité (Économie politique) |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |x Modèles économétriques. | |
| 650 | 7 | |a Liquidity (Economics) |x Econometric models |2 fast | |
| 650 | 7 | |a Monetary policy |x Econometric models |2 fast | |
| 700 | 1 | |a Lee, Il Houng, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Asia and Pacific Department, |e issuing body. | |
| 758 | |i has work: |a Optimal liquidity and economic stability (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGRrFRb6Tc9CbBk7fFDcyd |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 830 | 0 | |a IMF working paper ; |v WP/12/135. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1606754 |z Texto completo |
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