Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/27649 
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dc.contributor.authorBelke, Ansgaren
dc.contributor.authorOrth, Walteren
dc.contributor.authorSetzer, Ralphen
dc.date.accessioned2009-08-12T07:30:05Z-
dc.date.available2009-08-12T07:30:05Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/27649-
dc.description.abstractGlobal liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in consumer prices. This paper examines the interactions between money, goods and asset prices at the global level. Using aggregated data for major OECD countries, our VAR results support the view that different price elasticities on asset and goods markets explain the recently observed relative price change between asset classes and consumer goods.en
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2008,25en
dc.subject.jelF01en
dc.subject.jelE52en
dc.subject.jelE31en
dc.subject.jelF42en
dc.subject.ddc330en
dc.subject.keywordGlobal liquidityen
dc.subject.keywordinflation controlen
dc.subject.keywordmonetary policy transmissionen
dc.subject.keywordasset pricesen
dc.subject.stwGesamtwirtschaftliche Liquiditäten
dc.subject.stwInflationen
dc.subject.stwKonsumguten
dc.subject.stwVermögenen
dc.subject.stwPreiselastizitäten
dc.subject.stwSchätzungen
dc.subject.stwOECD-Staatenen
dc.titleLiquidity and the dynamic pattern of price adjustment: a global view-
dc.typeWorking Paperen
dc.identifier.ppn589814397en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:7564en

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