This paper investigates the money demand in Denmark in the period 1980-2002 using quarterly data. Within the framework of a cointegrated vector autoregression model an empirical long-run money demand relation is identified and analysed. Nominal money demand is shown to be a function of domestic...

This paper provides empirical evidence in favor of the hypothesis that the secular price increase in the 16th century is mainly caused by money supply developments as the discovery of new mines in Latin America. First we review price developments for several European countries over the 16th...

We develop a dynamic general equilibrium model to analyze the effects of central bank purchases of government bonds by investigating the following three questions: Under what conditions are these purchases socially desirable, what incentive problems do they mitigate, and how large are these...