Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008
In this paper we analyze the money demand functions of the four largest EMU countriesand of the four-country (EMU-4) aggregate. We identify reasonable and stable moneydemand relationships for Germany, France and Spain as well as the EMU-4 aggregate.For the case of Italy, results are less clear....