analysis ; monetary policy ; money demand ; structural vector error correction model …

policy was satisfied. -- cointegration analysis ; monetary policy ; Markov regime switching analysis ; money demand ; vector …

a money demand function and a sec(md one as a long term real interest rate (Fisher parity). Our findings indicate that … monetary authorities might well be able to base their policy on the existence of a money demand. Particular emphasis is given … not yet common in the existing literature. -- european money demand ; monetary targeting ; aggregation …

In a world with imperfect competition, market externalities or asymmetric information, the impact of money and monetary … policy on the real sector depends on the way money is created. Two conflicting views of money supply can be distinguished in … theoretical and from an empirical point of view. An industrial organization model of the money-creating sector with endogenous …

models ; Credit channel ; monetary policy transmission ; money channel …

nominal money and the price level in the euro area are integrated of order two. This is confirmed by applying tests on double … applied to explore the relationship between money and prices. The leading indicator property of money for prices, money demand … analysis and the role of money in the transmission mechanism are addressed. It turns out that the I(2) analysis provides a …

A money demand function for M2 is estimated for Italy for the period 1972-1998 within an error correction framework … Germany is incorporated into the model. By accounting for structural breaks and currency substitution a stable money demand … function can be found. -- Money demand ; error correction model ; structural changes …