Bruggeman, Annick; Donati, Paola; Warne, Anders - 2021
This paper re-examines two data issues concerning euro area money demand: aggregation of national data and measurement … of the own rate. The main purpose is to study if euro area money demand is subject to parameter non-constancies using …-scale bootstraps. The empirical evidence supports the existence of a stable long-run relationship between money and output and that the …