Dreger, Christian; Gerdesmeier, Dieter; Roffia, Barbara - 2016
inflation pressure at the end of the sample. Excess liquidity models turnout to outperform the autoregressive benchmark, as they … overall monetary policy strategy. In this respect, money demandmodels provide a framework for explaining monetary developments … are at the zero lower bound, the analysis of money stocks become even more importantfor monetary policy. Therefore, this …