Narrow search
Showing 1 - 10 of 1,416
Cover Image
Euro area money demand and international portfolio allocation : a contribution to assessing risks to price stability
De Santis, Roberto A. (contributor);  … - 2008
euro area M3 growth and model-based fitted or predicted values helps forecast euro area inflation. …
Persistent link: https://www.econbiz.de/10003789419
Cover Image
Does it matter how aggregates are measured? : the case of monetary transmission mechanisms in the euro area
Beyer, Andreas; Jusélius, Katarina - 2010
Beyer, Doornik and Hendry (2000, 2001) show analytically that three out of four aggregation methods yield problematic results when exchange rate shifts induce relative-price changes between individual countries and found the least problematic method to be the variable weight method of growth...
Persistent link: https://www.econbiz.de/10003970393
Cover Image
Euro area money demand : empirical evidence on the role of equity and labour markets
Bondt, Gabe J. de - 2009
This study presents empirical evidence on the long-run motives for holding euro area money by focusing on the role of equity and labour markets. Equity positively affects money demand through wealth effects, as equities are a significant store of household wealth and thus part of a financial...
Persistent link: https://www.econbiz.de/10003963754
Cover Image
A stable model for Euro Area money demand : revisiting the role of wealth
Beyer, Andreas - 2009
In this paper we present an empirically stable money demand model for Euro area M3. We show that housing wealth is an important explanatory variable of long-run money demand that captures the trending behaviour of M3 velocity, in particular its shift in the first half of this decade. We show...
Persistent link: https://www.econbiz.de/10003963820
Cover Image
Household money holdings in the euro area : an explorative investigation
Seitz, Franz; Landesberger, Julian von - 2010
In this paper we analyse household holdings of the broad monetary aggregate M3 in the euro area from 1991 until 2009. We develop four models, two in nominal, two in real terms, with satisfactory economic and statistical properties. The main determinants are a transactions variable, wealth...
Persistent link: https://www.econbiz.de/10008657126
Cover Image
Welfare costs of inflation and the circulation of US currency abroad
Calza, Alessandro; Zaghini, Andrea - 2011
Empirical studies of the "shoe-leather" costs of inflation are typically computed using M1 as a measure of money. Yet … minimized for a positive but moderate value of the inflation rate, thereby justifying a deviation from the Friedman rule in … favour of the Fed's current policy. - Welfare costs of inflation ; flow of funds data ; US currency abroad …
Persistent link: https://www.econbiz.de/10009006654
Cover Image
The demand for euro area currencies
Fischer, Björn; Köhler, Petra; Seitz, Franz - 2004
inflation variability. Large-value banknotes seem to be therefore used to an important extent as a store of value domestically …
Persistent link: https://www.econbiz.de/10009636553
Cover Image
Demographics and inflation in the euro area : a two-sector new Keynesian perspective
Lis, Eliza Magdalena; Nickel, Christiane; Papetti, Andrea - 2020
Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent … downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation … inflation found in the data for the euro area. In this model, continuing to follow the same rule makes inflation to be on a …
Persistent link: https://www.econbiz.de/10012181303
Cover Image
Forecasting euro area inflation using targeted predictors : is money coming back?
Falagiarda, Matteo; Sousa, João - 2017
monetary and credit aggregates are very often selected among the top predictors of inflation, with their predictive power … and credit variables in forecasting inflation, even if their information content is diluted in a much broader pool of …
Persistent link: https://www.econbiz.de/10011637074
Cover Image
Forecasting real GDP
Brand, Claus; Reimers, Hans-Eggert; Seitz, Franz - 2003
This paper analyses the information content of M1 for euro area real GDP since the beginning of the 1980s and reviews theoretical arguments on why real narrow money should help predict real GDP. We find that, unlike in the U.S., in the euro area, M1 has better and more robust forecasting...
Persistent link: https://www.econbiz.de/10009635922