Table 3

List of variables relating to international liquidity

VariableNotation in graphsDefinition
Global liquidityGlobal_Liquidity(%)BIS Indicators of global liquidity. Index composed of two indicators: a) international banking assets, essentially bank loans throughout the work, both from other banks and firms and consumers and b) credit to firms and consumers by denomination of currency (USD, EUR, JPY)
DXY indexDXY_IndexDXY (US Dollar) index v. a basket of currencies (EURO, YEN, POUND STERLING, etc.). The DXY is a weighted geometric measure

Note(s): Monthly frequency except for the global liquidity indicators that were presented quarterly and were preprocessed for the monthly figures

Source(s): Table by authors

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