Detail publikace

Liquidity supply and money velocity co-movements in the Eurozone – Time-Frequency Domain Approach

KAPOUNEK, S. POMĚNKOVÁ, J.

Originální název

Liquidity supply and money velocity co-movements in the Eurozone – Time-Frequency Domain Approach

Typ

článek v časopise ve Scopus, Jsc

Jazyk

angličtina

Originální abstrakt

The authors focus on financial stability in the Eurozone and propose indicator for macro-prudential policy. The empirical part of the paper applies wavelet analysis to identifiy cyclical movements in money velocity and liquidity supply. The cospectrum shows significant co-movements between 6-16 periods. The authors conclude that increase of money velocity supports financial markets to provide provide more credits. A pro-cyclical influence results in a boom which is then followed by a bust is task for macro-prudential policy and anti-cyclical instruments. Identificator based on the money velocity movements has potential function to identify instability pressures at the money market in huge monetary unions with large financial systems, where upper limit of credit money creation is vanished.

Klíčová slova

financial stability, macro-prudential policy, credit money creation, money endogeneity, wavelet analysis

Autoři

KAPOUNEK, S.; POMĚNKOVÁ, J.

Rok RIV

2012

Vydáno

29. 5. 2012

Nakladatel

Mendelu v Brně

Místo

Brno

ISSN

1211-8516

Periodikum

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

Ročník

60

Číslo

2

Stát

Česká republika

Strany od

109

Strany do

116

Strany počet

8

URL

https://acta.mendelu.cz/artkey/acu-201202-0015_liquidity-supply-and-money-velocity-co-movements-in-the-eurozone-time-frequency-domain-approach.php

BibTex

@article{BUT94763,
  author="Svatopluk {Kapounek} and Jitka {Poměnková}",
  title="Liquidity supply and money velocity co-movements in the Eurozone – Time-Frequency Domain Approach",
  journal="Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis",
  year="2012",
  volume="60",
  number="2",
  pages="109--116",
  doi="10.11118/actaun201260020109",
  issn="1211-8516",
  url="https://acta.mendelu.cz/artkey/acu-201202-0015_liquidity-supply-and-money-velocity-co-movements-in-the-eurozone-time-frequency-domain-approach.php"
}