This paper provides a definition of global liquidity consistent with its meaning as the “ease of financing” in international financial markets. Using a long

While global uncertainty—measured by the VIX—has proven to be a robust global “push” factor of international capital flows, there has been no systematic

Economic cycles are driven by financial flows, namely quantities of savings and credits, and not by high street inflation or interest rates. Their sweeping dest

The paper starts by presenting evidence of commonality in global financial conditions. This commonality is then related to specific drivers of global financial

This paper develops a small open economy model where global and domestic liquidity is intermediated to the corporate sector through two financial processes. Inv