Table 1 List of variables relating to... | Emerald Publishing

Table 1

List of variables relating to private liquidity

Variable	Notation in graphs	Definition
Total consumer credit & Change in the total consumer credit	Total_ConsumerCredit & Change_Total_ ConsumerCredit	Total consumer credit in property and securitized, nonstationary flows
Total monetary base (M₀)	Total_Monetary_Base	Total quantity of money (in this case, the US Dollar) that is in general circulation in the hands of the public or in the form of commercial banking deposits maintained in the US central banking reserve (M₀)
M₁ for the USA	M1_USA	Monetary aggregate resulting from the sum of i) money in circulation in USD; ii) private sector deposits at commercial banks and iii) other liquid and savings deposits
M₂ for the USA	M2_USA	Monetary aggregate resulting from the sum of i) M₁ aggregate; ii) savings deposits (<100K) in commercial banks and iii) liquid funds from the money market
M₃ for the USA	M3_USA	Monetary aggregate resulting from the sum of i) M₂ aggregate and ii) savings deposits (>100K) in commercial banks
Private credit for the USA	Private_Credit_USA	Total credit (banking and nonbanking) to the nonfinancial private sector for the USA
M1 for the EU	M1_EU	Monetary aggregate resulting from the sum of i) money in circulation in Euros; ii) private sector deposits held in commercial banks and ii) other liquid and savings deposits
M₂ for the EU	M2_EU	Monetary aggregate resulting from the sum of i) M₁ aggregate; ii) savings deposits (<100K) at commercial banks and iii) liquid funds from the money market
M₃ for the EU	M3_EU	Monetary aggregate resulting from the sum of i) M₂ aggregate and ii) savings deposits (>100K) at commercial banks
Private credit for the EU	Private_Credit_EU	Total credit (banking and nonbanking) to the private sector for the Eurozone

Variable	Notation in graphs	Definition
Total consumer credit & Change in the total consumer credit	Total_ConsumerCredit & Change_Total_ ConsumerCredit	Total consumer credit in property and securitized, nonstationary flows
Total monetary base (M₀)	Total_Monetary_Base	Total quantity of money (in this case, the US Dollar) that is in general circulation in the hands of the public or in the form of commercial banking deposits maintained in the US central banking reserve (M₀)
M₁ for the USA	M1_USA	Monetary aggregate resulting from the sum of i) money in circulation in USD; ii) private sector deposits at commercial banks and iii) other liquid and savings deposits
M₂ for the USA	M2_USA	Monetary aggregate resulting from the sum of i) M₁ aggregate; ii) savings deposits (<100K) in commercial banks and iii) liquid funds from the money market
M₃ for the USA	M3_USA	Monetary aggregate resulting from the sum of i) M₂ aggregate and ii) savings deposits (>100K) in commercial banks
Private credit for the USA	Private_Credit_USA	Total credit (banking and nonbanking) to the nonfinancial private sector for the USA
M1 for the EU	M1_EU	Monetary aggregate resulting from the sum of i) money in circulation in Euros; ii) private sector deposits held in commercial banks and ii) other liquid and savings deposits
M₂ for the EU	M2_EU	Monetary aggregate resulting from the sum of i) M₁ aggregate; ii) savings deposits (<100K) at commercial banks and iii) liquid funds from the money market
M₃ for the EU	M3_EU	Monetary aggregate resulting from the sum of i) M₂ aggregate and ii) savings deposits (>100K) at commercial banks
Private credit for the EU	Private_Credit_EU	Total credit (banking and nonbanking) to the private sector for the Eurozone

Note(s): In all cases, on a monthly basis. Data preprocessing converted the quarterly variables into monthly figures

Source(s): Table by authors