A Stable Model for Euro Area Money Demand : Revisiting the Role of Wealth

In this paper we present an empirically stable money demand model for Euro area M3. We show that housing wealth is an important explanatory variable of long-run money demand that captures the trending behaviour of M3 velocity, in particular its shift in the first half of this decade. We show that the current financial crisis has no impact on the stability of our money demand model

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Year of publication:	2009
Authors:	Beyer, Andreas
Publisher:	[2009]: [S.l.] : SSRN
Subject:	Eurozone \| Euro area \| Geldnachfrage \| Money demand \| EU-Staaten \| EU countries \| Kointegration \| Cointegration \| Theorie \| Theory \| Geldmenge \| Money supply

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Extent:	1 Online-Ressource (64 p)
Series:	ECB Working Paper ; No. 1111
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 11, 2009 erstellt
Other identifiers:	10.2139/ssrn.1499085 [DOI]
Classification:	C22 - Time-Series Models ; C32 - Time-Series Models ; E41 - Demand for Money
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013155103