We explain how the external counterpart of the euro area M3 can be analysed by using the euro area balance of payments (b.o.p.). This is possible because the net external assets of the monetary financial institutions (MFIs) are present in two statistical frameworks that follow similar...

This paper examines the monetary approach to Pakistan's balance of payments for the period 1980-2008. Through the reserve flow equation, it tests whether excess money supply played a significant role as a disturbance by using Co- integration test and error-correction modeling. The empirical...

This occasional paper describes the monetary presentation of the euro area balance of payments and its use. The monetary presentation is a tool for assessing the impact of balance of payments transactions involving non-bank residents on monetary developments. The paper explains in detail the...

External sector plays a significant role in the sustainable economic development of an economy. This paper aims to examine the correlation between balance of payment and macroeconomic variables mainly Money supply and Exchange rate of India. The study is built on fundamental assumption that...