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Why has broad money demand been more stable in the euro area than in other economies? A literature review
Calza, Alessandro; Sousa, João - European Central Bank - 2003
JEL Classification: E41, C22, C32
Persistent link: https://www.econbiz.de/10005530979
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Is the demand for euro area M3 stable?
Warne, Anders; Bruggeman, Annick; Donati, Paola - European Central Bank - 2003
JEL Classification: C22, C32, E41
Persistent link: https://www.econbiz.de/10005531005
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Factors Underlying the Definition of Broad Money; An Examination of Recent U.S. Monetary Statistics and Practices of Other Countries
Lim, Ewe-Ghee; Sriram, Subramanian S. - International Monetary Fund (IMF) - 2003
The paper examines the experiences of countries in defining monetary aggregates, particularly those countries that have undertaken substantial redefinitions. It finds that both the functional and empirical approaches are important; and that monetary definitions tend to be dynamic in nature,...
Persistent link: https://www.econbiz.de/10005604824
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Money demand in the euro area: do national differences matter?
Dedola, Luca; Gaiotti, Eugenio; Silipo, Luca - Banca d'Italia - 2001
find that the hypothesis of perfect aggregation is not rejected. Nevertheless, some estimates of area-wide long …
Persistent link: https://www.econbiz.de/10005609347
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On the use of area-wide models in the Euro-zone
Sbrana, Giacomo - In: Statistical Methods and Applications 17 (2008) 4, pp. 499-518
Persistent link: https://www.econbiz.de/10005178628
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Money Demand in theEuroArea: Do National Differences Matter?
Dedola, Luca; Gaiotti, Eugenio; Silipo, Luca - EconWPA - 2004
demands. We find that the hypothesis of perfect aggregation is not rejected. Nevertheless, some estimates of area-wide long …
Persistent link: https://www.econbiz.de/10005412612
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Long run money demand in the EU: Evidence for area-wide aggregates
Fagan, Gabriel; Henry, JÊrÆme - In: Empirical Economics 23 (1998) 3, pp. 483-506
, are extended by the inclusion of various measures of Cross-Border Holdings. Specific attention is also paid to aggregation … issues and the relative performance of area-wide and national equations. The results show that aggregation bias is not a …
Persistent link: https://www.econbiz.de/10005184222
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Eurozone money demand: time series and dynamic panel results
Bosker, E.M. - de Nederlandsche Bank - 2003
aggregation method to construct data series long enough to obtain meaningful econometric results. This study discusses different … aggregation methods and finds that variable weight growth rate aggregation has the nicest properties. The results based on the … aggregation by adopting a (nonstationary) dynamic panel method that uses the data series for each of the eurozone countries by …
Persistent link: https://www.econbiz.de/10005101883
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The Information Contents of Aggregated Money Demand in the EMU
Butter, Frank; Dijken, Simon - In: Open Economies Review 8 (1997) 3, pp. 233-244
Estimates of aggregated and disaggregated demand-for-money functions in 7 EMU member states show that the aggregated function slightly outperforms the disaggregated functions in explaining the European demand for M3. The aggregated function appears to contain some additional information on money...
Persistent link: https://www.econbiz.de/10005714972
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The myth of a stable European money demand
Arnold, Ivo - In: Open Economies Review 5 (1994) 3, pp. 249-259
Recent empirical studies suggest that an aggregate EC-wide money demand function is more stable than national money demand functions in the European Community. If true, this would facilitate monetary policy after Economic and Monetary Union. The evidence presented in this paper, however, shows...
Persistent link: https://www.econbiz.de/10005715022