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M3 Money Demand and Excess Liquidity in the Euro Area

Dreger, Christian - 2008

coins and banknotes. The monetary overhang and the real money gap do not indicate significant inflation pressures. The …

Persistent link: https://www.econbiz.de/10012724213

Sectoral Money Demand Models for the Euro Area Based on a Common Set of Determinants

von Landesberger, Julian - 2007

Empirical money demand analysis undertaken at the aggregate level may obscure behavioural differences between the financial, non-financial corporation and household sectors. Looking at the individual and more homogenous sectors may allow more clearly interpretable empirical relationships between...

Persistent link: https://www.econbiz.de/10012777406

Money and Prices : An I(2) Analysis for the Euro Area

Holtemöller, Oliver - 2017

The concept of integrated stochastic processes is widely used in empirical macroeconomics; and cointegration analysis is an important framework to analyze economic time series both in single equation and in system approaches. This framework is not only suited to study the relationships between...

Persistent link: https://www.econbiz.de/10012951750

Demand for Money in the Euro Area

Hamori, Shigeyuki - 2009

We analyzed the stability of the money demand function using panel data from January 1999 through March 2006, covering the 11 EU countries (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain). First, we found that the money demand function...

Persistent link: https://www.econbiz.de/10012765451

Shoe-Leather Costs in the Euro Area and the Foreign Demand for Euro Banknotes

Calza, Alessandro - 2015

We estimate the shoe-leather costs of inflation in the euro area using monetary data adjusted for holdings of euro … anticipated inflation. We conclude that, despite the increased circulation of euro banknotes abroad, in the euro area the … inflation tax is still predominantly borne by domestic agents, with transfers of resources from abroad remaining small …

Persistent link: https://www.econbiz.de/10013019615

A Portfolio Demand Approach for Broad Money in the Euro Area

Jung, Alexander - 2016

The aim of the paper is to reassess the issue of money demand stability by estimating a portfolio demand approach for broad money M3 in the euro area covering the sample 1999 to 2013. The question is relevant, since in view of the massive shocks observed since the start of the financial crisis...

Persistent link: https://www.econbiz.de/10012987468

Is Euro Area Money Demand (Still) Stable? Cointegrated VAR Versus Single Equation Techniques

Belke, Ansgar Hubertus - 2010

In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...

Persistent link: https://www.econbiz.de/10013144626

Does it Matter How Aggregates are Measured? The Case of Monetary Transmission Mechanisms in the Euro Area

Beyer, Andreas - 2010

Beyer, Doornik and Hendry (2000, 2001) show analytically that three out of four aggregation methods yield problematic results when exchange rate shifts induce relative-price changes between individual countries and found the least problematic method to be the variable weight method of growth...

Persistent link: https://www.econbiz.de/10013149066

Foreign Demand for Euro Banknotes

Lalouette, Laure; Zamora-Pérez, Alejandro; Rusu, Codruta; … - 2021

are mainly driven by local-specific determinants, i.e. factors affecting a country’s demand for euro (local inflation …

Persistent link: https://www.econbiz.de/10013243845

Is euro area money demand (still) stable? : cointegrated VAR versus single equation techniques

Belke, Ansgar; Czudaj, Robert - In: Applied economics quarterly 56 (2010) 4, pp. 285-315

Persistent link: https://www.econbiz.de/10009316570