A Flow-of-Funds Perspective on the Financial Crisis

1. Introduction and Overview
Bernhard Winkler, Ad van Riet, Peter Bull

Part I. Money, Credit and Liquidity in the Flow of Funds

2. The Quantity Theory of Money Revisited
Carmelo Salleo

3. The Quantity Theory of Credit and Some of Its Policy Implications
Richard A. Werner

4. Euro Area Money Demand and International Portfolio Allocation: A Contribution to Assessing Risks to Price Stability
Roberto A. Santis, Carlo A. Favero, Barbara Roffia

5. Global Liquidity and Credit Booms
Claudio Borio, Robert N. McCauley, Patrick McGuire

6. Dual Liquidity Crises under the Gold Standard and in a Monetary Union: A Financial Accounts Perspective
Ulrich Bindseil, Adalbert Winkler

7. Determinants and Consequences of Credit Tightening: An Analysis of the United States and the Euro Area
Riccardo De Bonis, Luigi Infante, Francesco Paternò

Part II. Sectoral Analysis of the Flow of Funds

8. Financial Intermediary Balance Sheet Management
Tobias Adrian, Hyun Song Shin

9. Bank Leverage and the Credit Cycle in the Euro Area: A Bayesian Semi-Parametric Approach
Celestino Girón, Silvia Mongelluzzo

10. Households’ Financial Portfolio Choices: A Comparison between France and Germany (1978–2009)
Sanvi Avouyi-Dovi, Vladimir Borgy, Christian Pfister, Michael Scharnagl, Franck Sédillot

11. Household Balance Sheets and Debt: An International Country Study
Jacob Isaksen, Paul Lassenius Kramp, Louise Punch Sørensen, Søren Vaster Sørensen

12. Analysing Recent Developments in the Financing of Euro Area Non-Financial Corporations
Laurent Maurin

13. Monetary Policy and the Flow of Funds in the Euro Area
Riccardo Bonci

Keywords: Business and Management, Business Finance, Economic Policy, Macroeconomics/Monetary Economics//Financial Economics, Banking, Finance, general, Financial Accounting