In this paper, we use meta-analytic methods to investigate possible sources for the large variation in empirical findings about the income elasticity of money demand. Our results suggest that the broadness of the monetary aggregate, the inclusion of wealth and the consideration of financial...

In this paper we perform a meta-analysis of empirical money demand studies involving almost 500 individual money demand estimations. We analyze whether the wide variety of results can be explained by characteristics of the studies, different macroeconomic environments or the imprecision of...

By analyzing almost 1000 money demand estimations this paper attempts to summarize the disperse findings of this literature. Using both descriptive statistics and meta-regressions we derive several stylized facts about the two most prominent determinants of money demand–income and...

Trust in financial institutions is of great importance for financial intermediation. Against this background, we study two questions: Has trust in banks declined during the global financial crisis and what factors determine the level of trust in banks? Employing survey evidence from Austrian...

By analysing almost 1000 money demand estimations this paper attempts to summarize the diverse findings of the literature on this topic. Using both descriptive statistics and meta-regressions, several stylized facts are derived about the two most prominent determinants of money demand income and...

Trust in financial institutions is of great importance for financial intermediation. Against this background, we study two questions: Has trust in banks declined during the global financial crisis and what factors determine the level of trust in banks? Employing survey evidence from Austrian...

By analyzing almost 1000 money demand estimations this paper attempts to summarize the disperse findings of this literature. Using both descriptive statistics and meta-regressions we derive several stylized facts about the two most prominent determinants of money demand–income and interest...

In this paper we perform a meta-analysis of empirical money demand studies involving almost 500 individual money demand estimations. We analyze whether the wide variety of results can be explained by characteristics of the studies, different macroeconomic environments or the imprecision of...

The new Austrian pension system based on individual accounts is a clear improvement over the former system. A serious shortcoming of the new system, however, is that it does not react to demographic changes, in particular to increases in life expectancy. I contrast the Austrian and the Swedish...

In this paper I use a multi-period OLG model to study how a demographic shock is distributed among different generations. In particular, I investigate whether a funded pension system allows for a smoother adjustment than an unfunded system. The results suggest that the answer to this question...