Artis, Mike; Beyer, Andreas - In: Journal of Common Market Studies 42 (2004) 4, pp. 717-736
This article establishes a co-integration analysis for the euro area (sample period: 1983-2000), identifying three co-integrating vectors: one which can be labelled money demand (in which real M3 money balances are related to output, with unit elasticity, and the long rate of interest); another...