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, Germany, Italy and Spain (collectively referred to as the “4 NCBs”). To date, the 4 NCBs have been using ARIMAX models to …
Persistent link: https://www.econbiz.de/10014353032
) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 …
Persistent link: https://www.econbiz.de/10003746606
Persistent link: https://www.econbiz.de/10009377163
According to estimates using the seasonal method, the volume of euro coins held for transaction purposes in Germany in …
Persistent link: https://www.econbiz.de/10010429759
In this paper, we analyze the volume of euro banknotes issued by Germany within the euro area with several seasonal … methods. We draw a distinction between movements within Germany, circulation outside Germany but within the euro area and … demand from non-euroarea countries. Our approach suggests that only about 20% of euro notes issued by Germany are used for …
Persistent link: https://www.econbiz.de/10009514066
This paper analyses how many euro coins outflow from Germany and which composition of coins is to be expected in the … coins is calculated to lie somewhere between 4% and 5%. In the long run, the ratio of German €1 coins in Germany is likely …
Persistent link: https://www.econbiz.de/10003881600
as those for France and Germany separately. Second, the predictive power of the core-ERM aggregate relative to French and …
Persistent link: https://www.econbiz.de/10012781800
This paper investigates possible non-linearities in the dynamics of the euro area demand for the narrow aggregate M1. A long-run money demand relationship is firstly estimated over a sample period covering the last three decades. While the parameters of the relationship are jointly stable, there...
Persistent link: https://www.econbiz.de/10011604638
Immigration today presents two distinct but related problems. The first, and most neglected, relates to the money supply and currency values: due to the global availability of Western Union and Moneygram, remittances to home countries have exploded in the last decade, with estimates running into...
Persistent link: https://www.econbiz.de/10014188695
The instability of standard money demand functions has undermined the role of monetary aggregates for monetary policy analysis in the euro area. This paper uses country-specific monetary aggregates to shed more light on the economics behind the instability of euro area money demand. Our results...
Persistent link: https://www.econbiz.de/10010270719