Long-run properties of EU-wide money aggregates are analyzed. For each of the three aggregates considered--Currency, M1 and M3H--it is possible to obtain cointegrating relationships with GDP and interest rates (long or short term market interest rates). Results are not improved when traditional...

Long-run properties of EU-wide money aggregates are analysed. For each of the three aggregates considered - Currency, M1 and M3H - it is possible to obtain cointegrating relationships with GDP and interest rates (long or short term market interest rates). Results are not improved when...

Money demand is probably one of the most extensively studied economic relationship in applied economics. While useful surveys of existing literature are available, much of the attention has focused on the US. However, a considerable number of papers have recently been produced dealing with the...