TY - BOOK AU - Koetter,Michael AU - Wedow,Michael TI - Does regional redistribution spur growth? T2 - Discussion paper. Series 1: economic studies SN - 9783865584731 U1 - 338.943 21 PY - 2008/// CY - Frankfurt am Main PB - Deutsche Bundesbank KW - DESARROLLO REGIONAL KW - CRECIMIENTO ECONOMICO KW - ALEMANIA KW - PROGRESO ECONOMICO N1 - Bibliografía: p. 10-11 N2 - Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in consumer prices. This paper examines the interactions between money, goods and asset prices at the global level. Using aggregated data for major OECD countries, our VAR results support the view that different price elasticities on asset and goods markets explain the recently observed relative price change between asset classes and consumer goods UR - https://www.econstor.eu/bitstream/10419/27652/1/200828dkp.pdf ER -