In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows … stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR …. Hence, FMOLS, CCR and DOLS are useful in estimating standard money demand as well, although they have only been rarely …

identifies two stable long-run relationships, one of which can be interpreted as a money demand function and a second one as a …

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 … money balances, income, the long term interest rate and the own rate of M3holdings. The specification appears to be robust …

sterilise its bond purchases - compensating those purchases through sales of other bonds or money market instruments to keep the … overall money supply unaffected. This is to counter accusations that the ECB is monetizing government debt. This note …

in order to account for variations within these variables over time. We argue that measures of money and credit growth … the Fed is concerned, the impact of consumer price inflation, and money and credit growth turns negative during the crisis …

We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and roll back credit …