Currency Substitution and Cross-Border Monetary Aggregation
AbstractIs there a stable aggregate money demand relationship for Europe? If so, why, and if not, why not? These questions are important for the implementation of policy by a European central bank, as well as for the appropriate speed of transition to EMU. This paper addresses them in a multi-country empirical study of money demand for the G-7 countries during the period since 1973. It looks for evidence of currency substitution and tests the restrictions implied by cross-border aggregation within Europe.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 92/81.
Date of creation: 01 Oct 1992
Date of revision:
Contact details of provider:
Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Carlo Monticelli, 1996. "EU-wide money and cross-border holdings," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 132(2), pages 215-235, September.
- Hayo, Bernd, 1999.
"Estimating a European Demand for Money,"
Scottish Journal of Political Economy, Scottish Economic Society,
Scottish Economic Society, vol. 46(3), pages 221-44, August.
- Ivo Arnold, 1996. "Fallacies in the interpretation of a european monetary aggregate," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 132(4), pages 753-762, December.
- Hayo, Bernd, 2000.
"The demand for money in Austria,"
ZEI Working Papers
B 06-2000, ZEI - Center for European Integration Studies, University of Bonn.
- Katrin Wesche, 1997.
"The Stability of European Money Demand: An Investigation of M3H,"
Open Economies Review, Springer,
Springer, vol. 8(4), pages 371-391, October.
- Wesche, Katrin, 1995. "The Stability of European Money Demand: An Investigation of M3H," Discussion Paper Serie B, University of Bonn, Germany 337, University of Bonn, Germany.
- Renato Filosa, 1995. "Money demand stability and currency substitution in six European countries (1980-1992)," BIS Working Papers 30, Bank for International Settlements.
- Carlo Monticelli, 1993. "'All the money in europe?' An investigation of the economic properties of EC-wide extended monetary aggregates," BIS Working Papers 19, Bank for International Settlements.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi).
If references are entirely missing, you can add them using this form.