Global liquidity shocks driving national economies - Central banks face rising challenges.
Global shocks, like changes in global liquidity, have a big impact on the world economy and individual countries. Central banks may find it harder to predict and control these shocks due to globalization. Other factors, such as house prices and technology, also affect economies globally. Recent data shows that global liquidity shocks are becoming more important in influencing house prices. Overall, global factors are becoming more influential in shaping national economies over time.