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The Stability of European Money Demand: An Investigation of M3H Author info | Abstract | Publisher info | Download info | Related research | Statistics Wesche, Katrin
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The paper assesses the stability and predictive performance of a European money demand function as compared to national money demand functions. Two different groups of countries for a monetary union are considered. With respect to the explanatory accuracy, the national functions perform better than the aggregated function though the difference is barely significant. Examination of the residuals of the national money demand equations indicates that currency substitution is not the major cause for the stability of the aggregated money demand function.
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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number
337.
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Date of creation: Nov 1995Date of revision:
Handle: RePEc:bon:bonsfb:337Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany Fax: +49 228 73 9221 Web page: http://www.bgse.uni-bonn.de/index.php?id=517
For technical questions regarding this item, or to correct its listing, contact: (Daniel Park).
Keywords: demand for money ; European Monetary Union ; cointegration ; Other versions of this item:
Find related papers by JEL classification: E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
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