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A note on the national contributions to the euro area M3

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  • Mehrotra, Aaron

Abstract

We examine developments in national contributions to euro area M3 for a sample of nine euro area countries during 1999-2005.We investigate the co-movements of national contributions with euro area M3 and discuss possible reasons for divergencies in growth rates of national contributions.Finally, we evaluate the information content of national contributions to M3 using formal tests of causality between monetary aggregates, consumer prices and equity prices.

Suggested Citation

  • Mehrotra, Aaron, 2007. "A note on the national contributions to the euro area M3," Bank of Finland Research Discussion Papers 2/2007, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp2007_002
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    References listed on IDEAS

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    Cited by:

    1. Lee, Jim & Crowley, Patrick M., 2009. "Evaluating the stresses from ECB monetary policy in the euro area," Bank of Finland Research Discussion Papers 11/2009, Bank of Finland.

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    More about this item

    Keywords

    national contribution; M3; euro area;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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