Global excess liquidity and asset prices in emerging countries: A PVAR approach
نویسندگان
چکیده
منابع مشابه
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We broadly define liquid assets, or monetary assets, as any asset that can be readily sold in the market and can be held by a number of people in succession before maturity. We ask in what environment is the circulation of liquid assets essential for the smooth running of the economy. By developing a canonical model of a monetary economy (i.e., where the circulation of liquid assets is essentia...
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ژورنال
عنوان ژورنال: Emerging Markets Review
سال: 2012
ISSN: 1566-0141
DOI: 10.1016/j.ememar.2012.02.002