This article sets out to re-examine the money demand function for the euro area. Traditional specifications often yield unsatisfactory results: instability of short and long-term coefficients; relatively large differences between estimated and actual value of variables; and significant changes...

[eng] Regional Alignment and EMU . Sustained economic growth encourages a catch up effect. The least-advanced European countries made considerable progress during the 1960s. Conversely, certain regional disparities increased between the first oil crisis and the mid-1980s. Today, the sluggishness...

In recent years, the dynamics of M3 in the euro area have been driven by two factors : a strong preference for liquidity, observed between 2001 and 2003, followed by a normalisation, at a relatively moderate pace, of portfolio behaviour; as regards the counterparts, changes in M3 and net...

Cet article propose un réexamen de la spécification de la fonction de demande de monnaie de la zone euro. En effet, les spécifications traditionnelles conduisent à des résultats parfois peu satisfaisants : instabilité des coefficient de court et long termes ; écarts relativement...

The heat waves of 2003 in Western Europe and 2010 in Russia, commonly labelled as rare climatic anomalies outside of previous experience, are often taken as harbingers of more frequent extremes in the global warming-influenced future. However, a recent reconstruction of spring–summer...