Money demand in Europe: Evidence from the past

Arbeitspapier

The conditions under which European monetary policy is likely to be conducted are investigated by means of multi-variate time series modelling using aggregated data of all eleven European Monetary Union member states. A cointegration analysis identifies two stable long-run relationships, one of which can be interpreted as a money demand function and a second one as a long term real interest rate (Fisher parity). Particular emphasis is given both to the data sources and their aggregation, by providing a transparent account of our calculation procedure, which is not yet common in the existing literature.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: DIW Discussion Papers ; No. 204

Classification and Topics

• Classification: Wirtschaft ; Demand for Money ; Monetary Policy ; Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
• Subject: Geldnachfrage ; Kointegrationsanalyse ; Europäische Währungsunion ; money demand ; cointegration analysis ; European Monetary Union ; Geldnachfrage ; Aggregation ; Europäische Wirtschafts- und Währungsunion ; Kointegration ; Schätzung ; EU-Staaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Hahn, Elke ; Müller, Christian
• Event: Veröffentlichung
• (who): Deutsches Institut für Wirtschaftsforschung (DIW)
• (where): Berlin
• (when): 2000

Further information

• Handle: http://hdl.handle.net/10419/18174
• Last update: 08.12.2022, 8:17 PM CET