Financial Instability and Money Velocity: Evidence from the Financial Crisis

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F13%3A43908289" target="_blank" >RIV/62156489:43110/13:43908289 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Financial Instability and Money Velocity: Evidence from the Financial Crisis
Original language description
We focus on the financial instability hypothesis defined as rapid credit growth accompanied with a significant increase in asset prices. We used contribution of the national banking systems within the euro area and identified significant relationship between the money velocity and asset prices before the financial crisis in the year 2007. Finally, we applied cointegration analysis and weak exogeneity tests to identify causality between the money supply created by the national banking systems, economic activity and asset prices. We found heterogeneity in cointegration relations within the euro area. Our recommendations follow Post Keynesian assumptions in relation to the endogeneity of money.
Czech name
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Czech description
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Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Sborník příspěvků XI. mezinárodní konference Hospodářská politika v členských zemích Evropské unie
ISBN
978-80-248-3094-0
ISSN
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e-ISSN
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Number of pages
10
Pages from-to
165-174
Publisher name
Vysoká škola báňská -Technická univerzita Ostrava
Place of publication
Ostrava
Event location
Velké Karlovice
Event date
Sep 18, 2013
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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