1. Publications
  2. 1/2014
cover_economics-bulletin.jpg

Liquidity in the Liquidity Crisis: Evidence from Divisia Monetary Aggregates in Germany and the European Crisis Countries

While there has been much discussion of the role of liquidity in the recent financial crises, there has been little discussion of the use of macroeconomic aggregation techniques to measure total liquidity available to the market. In this paper, we provide an approximation of the liquidity development in six Euro area countries from 2003 to 2013. We show that properly measured monetary aggregates contain significant information about liquidity risk.

20. January 2014

Authors Makram El-Shagi

See Publication

Keywords

euro area financial policy crisis divisia aggregation liquidity aggregates signaling models Index Number Theory

JEL Classification

E4 C8

Whom to contact

For Journalists

Dr Wolfgang Sender
Dr Wolfgang Sender
Head of Public Relations

If you have any further questions please contact me.

+49 345 7753-720 Request per E-Mail
Mitglied der Leibniz-Gemeinschaft LogoTotal-Equality-LogoSupported by the BMWK