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M3 Money Demand and Excess Liquidity in the Euro Area
Dreger, Christian; Wolters, Jürgen - 2008
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10011335564
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Money Velocity and Asset Prices in the Euro Area
Dreger, Christian; Wolters, Jürgen - 2008
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011335565
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Instabile Geldnachfrage im Euroraum?
Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 76 (2007) 4, pp. 85-95
Ökonometrische Studien weisen zunehmend auf Instabilitäten in der Geldnachfrage hin. Ein solcher Befund stellt die monetäre Strategie der EZB in Frage, die wesentlich auf einer stabilen Beziehung zwischen den Geldbeständen und ökonomischen Fundamentalvariablen beruht. In diesem Artikel wird...
Persistent link: https://www.econbiz.de/10010377814
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M3 Money Demand and Excess Liquidity in the Euro Area
Dreger, Christian; Wolters, Jürgen - In: Public Choice 144 (2010) 3, pp. 459-472
Recent empirical studies have found evidence of unstable long run money demand functions if recent data are used. If the link between money balances and the macroeconomy is fragile, the rationale of monetary aggregates in the ECB strategy has to be doubted. In contrast we present a ``stable''...
Persistent link: https://www.econbiz.de/10011514477
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Money Velocity and Asset Prices in the Euro Area
Dreger, Christian; Wolters, Jürgen - In: Empirica 36 (2009) 1, pp. 51-63
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011514842
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Instabile Geldnachfrage im Euroraum?
Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 76 (2007) 4, pp. 85-95
Ökonometrische Studien weisen zunehmend auf Instabilitäten in der Geldnachfrage hin. Ein solcher Befund stellt die monetäre Strategie der EZB in Frage, die wesentlich auf einer stabilen Beziehung zwischen den Geldbeständen und ökonomischen Fundamentalvariablen beruht. In diesem Artikel wird...
Persistent link: https://www.econbiz.de/10010486110
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Investigating M3 Money Demand in the Euro Area: New Evidence Based on Standard Models
Dreger, Christian; Wolters, Jürgen - 2006
Monetary growth in the euro area has exceeded its target level especially since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run relationship between the variables entering the money demand function. Instead the equation appears to be increasingly...
Persistent link: https://www.econbiz.de/10010260937
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Money Velocity and Asset Prices in the Euro Area
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10004963942
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M3 Money Demand and Excess Liquidity in the Euro Area
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10004963949
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Investigating M3 Money Demand in the Euro Area: New Evidence Based on Standard Models
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
Monetary growth in the euro area has exceeded its target level especially since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run relationship between the variables entering the money demand function. Instead the equation appears to be increasingly...
Persistent link: https://www.econbiz.de/10005068912