Liquidity and asset prices a VECM approach /
The recent financial and economic crisis highlighted the importance to better understand the relationship between liquidity developments and asset price movements. Central banks with focus on inflation targeting allowed asset price inflation, following burst, with its devastating consequences for th...
Elmentve itt :
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| Dokumentumtípus: | Könyv része |
| Megjelent: |
2012
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| Sorozat: | Crisis Aftermath: economic policy changes in the EU and its Member States : International Conference University of Szeged 8-9 March 2012 : conference Proceedings
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| Kulcsszavak: | Gazdaságpolitika |
| Online Access: | http://acta.bibl.u-szeged.hu/57479 |
| Tartalmi kivonat: | The recent financial and economic crisis highlighted the importance to better understand the relationship between liquidity developments and asset price movements. Central banks with focus on inflation targeting allowed asset price inflation, following burst, with its devastating consequences for the financial system and real economy. Equilibrium price should emanate from fundamentals. However liquidity conditions are part of fundamental variables and should be taken into consideration as explanatory variables in the process of asset pricing. Furthermore in many cases assets serve as collateral in refinancing which means that refinancing conditions influence values of pledged assets. |
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| Terjedelem/Fizikai jellemzők: | 13-26 |
| ISBN: | 978-963-306-159-6 |