Optimal liquidity and economic stability /

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Bibliographic Details
Corporate author / creator:	International Monetary Fund. Asia and Pacific Department.
Imprint:	Washington, D.C. : International Monetary Fund, 2012.
Description:	1 online resource (22 pages) : illustrations (some color)
Language:	English
Series:	IMF working paper ; WP/12/135 IMF working paper ; WP/12/135.
Subject:	Liquidity (Economics) Monetary policy. International finance. International finance. Liquidity (Economics) Monetary policy.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12507659

Hidden Bibliographic Details
Other authors / contributors:	Han, Linghui. Lee, Il Houng.
ISBN:	9781475537895 1475537891 9781475503883
Digital file characteristics:	text file
Notes:	"Asia and Pacific Department." "May 2012." Includes bibliographical references.
Summary:	Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess liquidity. This paper suggests a notional level of "optimal" liquidity beyond which asset prices will start to rise faster than the GDP deflator, thereby creating a gap between the face value and the real purchasing value of financial assets and widen the wedge in income between those with capital stock an.
Other form:	9781475503883 9781475537895

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