Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/144355
Authors: 
Baumeister, Christiane
Durinck, Eveline
Peersman, Gert
Year of Publication: 
2008
Series/Report no.: 
Working Paper Research 142
Abstract: 
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).
Subjects: 
Liquidity
asset prices
inflation
time-varying coefficients
JEL: 
E31
E32
E44
E51
E52
Document Type: 
Working Paper

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