Arbeitspapier
Measures of excess liquidity
The aim of this note is to provide an overview of various measures of excess liquidity, which can be defined as the deviation of the actual stock of money from an estimated equilibrium level. Given their dynamic nature, the excess liquidity measures under review are - in the light of long and variable lags of monetary policy - very useful tools to quantify future price pressures. In addition, excess liquidity measures consider inflation as a purely monetary phenomenon: neither the output gap nor liquidity gap - although both form an integral part of the concepts - an be held responsible for inducing a persistent rise in the price level. Despite strong theoretical support, the usefulness of excess liquidity measures depends on the stability of money demand, a question which has of course to be answered in the realm of empirical research.
- Sprache
-
Englisch
- Erschienen in
-
Series: HfB - Working Paper Series ; No. 65
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
- Thema
-
P-star
excess liquidity
monetary policy
ECB
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Polleit, Thorsten
Gerdesmeier, Dieter
- Ereignis
-
Veröffentlichung
- (wer)
-
HfB - Business School of Finance & Management
- (wo)
-
Frankfurt a. M.
- (wann)
-
2005
- Handle
- URN
-
urn:nbn:de:101:1-20080825168
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Polleit, Thorsten
- Gerdesmeier, Dieter
- HfB - Business School of Finance & Management
Entstanden
- 2005
Ähnliche Objekte (12)
Measures of excess liquidity
Excess capital and liquidity management
Precautionary liquidity shocks, excess reserves and business cycles
Can Excess Liquidity Signal an Asset Price Boom?
What is global excess liquidity, and does it matter?
M3 Money Demand and Excess Liquidity in the Euro Area
M3 money demand and excess liquidity in the euro area
The determinants of excess liquidity in the banking sector of Bosnia and Herzegovina
Liquidity measures, liquidity drivers and expected returns on an early call auction market
Global Excess Liquidity and House Prices - A VAR Analysis for OECD Countries
Tackling boundary effects in nonparametric estimation of intra-day liquidity measures
Zero nominal interest rates, unemployment, excess reserves and deflation in a liquidity trap
Measures of excess liquidity
Excess capital and liquidity management
Precautionary liquidity shocks, excess reserves and business cycles
Can Excess Liquidity Signal an Asset Price Boom?
What is global excess liquidity, and does it matter?
M3 Money Demand and Excess Liquidity in the Euro Area
M3 money demand and excess liquidity in the euro area
The determinants of excess liquidity in the banking sector of Bosnia and Herzegovina
Liquidity measures, liquidity drivers and expected returns on an early call auction market
Global Excess Liquidity and House Prices - A VAR Analysis for OECD Countries
Tackling boundary effects in nonparametric estimation of intra-day liquidity measures
Zero nominal interest rates, unemployment, excess reserves and deflation in a liquidity trap
Measures of excess liquidity
Excess capital and liquidity management
Precautionary liquidity shocks, excess reserves and business cycles
Can Excess Liquidity Signal an Asset Price Boom?
What is global excess liquidity, and does it matter?
M3 Money Demand and Excess Liquidity in the Euro Area
M3 money demand and excess liquidity in the euro area
The determinants of excess liquidity in the banking sector of Bosnia and Herzegovina
Liquidity measures, liquidity drivers and expected returns on an early call auction market
Global Excess Liquidity and House Prices - A VAR Analysis for OECD Countries
Tackling boundary effects in nonparametric estimation of intra-day liquidity measures