English, Article, Journal or magazine article edition: Liquidity and the dynamic pattern of price adjustment: a global view Belke, Ansgar; Orth, Walter; Setzer, Ralph

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Bookmark: http://trove.nla.gov.au/version/191872
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Liquidity and the dynamic pattern of price adjustment: a global view
Author
  • Belke, Ansgar
  • Orth, Walter
  • Setzer, Ralph
Physical Description
  • preprint
Notes
  • Global 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.
  • Global liquidity, inflation control, monetary policy transmission, asset prices
  • RePEc:zbw:bubdp1:7564
Language
  • English
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