inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only … by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices …

's key variable, the quantity of money …

inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only … by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices …

This paper provides an overview of the role of money in modern macro models. In particular, we are focussing on New … Keynesian and New Monetarist models to investigate their main findings and most significant shortcomings in considering money … recent New Keynesian literature, we argue that keeping an eye on money is important to monetary policy decision-makers in …

We re-connect money to in.ation using Goodfriend and McCallum's (2007) model where banks supply loans to cash … shocks to monitoring and collateral dominate those to goods productivity and the velocity of money demand, money and the … tends to be inflationary. Thus money and financial spreads are negatively correlated when banking sector shocks dominate. We …

-paid scheme combining central elements of TARGET Instant Payment Settlement and electronic money features enabling offline and …

The paper depicts the history of using money in Montenegro covering the period before the Christ until nowadays …, and even the Napoleon (French gold coin) money. The first ideas for Montenegro’s own money came from the Bishop Petar … Petrovic Njegoš in the 19th century. The first Montenegrin money, the Perper, was minted in 1906. The King Nikola's Decree as …

This paper takes an overview of the concepts and features of central bank money and private sector money and focuses on … the actual performance of these types of money in selected advanced and emerging economies. In addition, digital coins … (crypto assets), such as bitcoin, are newly emerged private sector money. Much attention has been given to digital coins …