The term "excess liquidity" may refer to the share of liquid assets in bank portfolios (the result of a retrenchment in bank lending, or a "credit crunch") or to money holdings of the nonbank public. Excess liquidity may be voluntary or nonvoluntary. In response to excess liquidity, policymakers tend to take steps to drain off the excess so it will not lead to a surge in inflation. In this paper, the authors examine the appropriateness of conventional...
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INFORMACIÓN
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1991/10/31
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS796
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1
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1
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2010/07/01
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Excess liquidity and monetary overhangs
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excess liquidity