within a panel cointegration framework. Besides the total net issues, we distinguish between large, medium and small euro …

-specific models for 110 economies, and also a pooled system thereof. We test for cointegration among money, prices, and real output …-star variables are constructed and the cointegration property between prices and the P-star variable is analysed. Along these lines …

cointegration linking interest rates and inflation, and stationarity of the real interest rate implying in turn homogeneity of the … favor of cointegration is weak over periods of high inflation. The Fisher coe±cient turns out to be remarkably stable and is …

-specific models for 110 economies, and also a pooled system thereof. We test for cointegration among money, prices, and real output …-star variables are constructed and the cointegration property between prices and the P-star variable is analysed. Along these lines …