At the beginning of the 21st century, the phenomena of shrinking cities spread widely over Europe. Cities shrank in peripheral, sparsely populated areas in Northern Europe, in Western European industrial agglomerations in economic decline, and in rural areas in Southern Europe suffering from...

Based on a literature review, this paper investigates the reasons why broad money demand has usually been found to be more stable in the euro area than in other large economies. The paper concludes that there are three main explanations for this fact. First, in some countries outside the euro...