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An econometric analysis of the main components of M3 in the Euro area

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  • Alessandro Calza
  • Alexander Jung
  • Livio Stracca

Abstract

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Suggested Citation

  • Alessandro Calza & Alexander Jung & Livio Stracca, 2000. "An econometric analysis of the main components of M3 in the Euro area," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 136(4), pages 680-701, December.
    • Handle: RePEc:spr:weltar:v:136:y:2000:i:4:p:680-701
    DOI: 10.1007/BF02707648
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    References listed on IDEAS

    as
    1. Claus Brand & Nuno Cassola, 2004. "A money demand system for euro area M3," Applied Economics, Taylor & Francis Journals, vol. 36(8), pages 817-838.
    2. Neil R. Ericsson & James G. MacKinnon, 2002. "Distributions of error correction tests for cointegration," Econometrics Journal, Royal Economic Society, vol. 5(2), pages 285-318, June.
    3. Neil R. Ericsson, 1998. "Empirical modeling of money demand," Empirical Economics, Springer, vol. 23(3), pages 295-315.
    4. Gabriel Fagan & JÊrÆme Henry, 1998. "Long run money demand in the EU: Evidence for area-wide aggregates," Empirical Economics, Springer, vol. 23(3), pages 483-506.
    5. Browne, F.X. & Fagan, G. & Henry, J., 1997. "Money Demand in EU Countries : A Survey," Papers 7, European Monetary Institute.
    6. Angeloni, Ignazio, 1994. "The Bank of Italy monthly money market model : Structure and applications," Economic Modelling, Elsevier, vol. 11(4), pages 387-412, October.
    7. G. Coenen & J.-L. Vega, 2001. "The demand for M3 in the euro area," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(6), pages 727-748.
    8. Kremers, Jeroen J M & Ericsson, Neil R & Dolado, Juan J, 1992. "The Power of Cointegration Tests," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 325-348, August.
    9. Wojciech W. Charemza & Derek F. Deadman, 1992. "New Directions In Econometric Practice," Books, Edward Elgar Publishing, number 84.
    10. Dwivedi, T. D. & Srivastava, V. K., 1978. "Optimality of least squares in the seemingly unrelated regression equation model," Journal of Econometrics, Elsevier, vol. 7(3), pages 391-395, April.
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    Citations

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    Cited by:

    1. Pateiro-Rodríguez, Carlos & Freire-Seoane, María Jesús & López-Bermúdez, Beatriz & Pateiro-López, Carlos, 2020. "Análisis de la tendencia a la liquidez del agregado monetario M3 en la eurozona: 1997-2018," El Trimestre Económico, Fondo de Cultura Económica, vol. 87(345), pages 171-201, enero-mar.
    2. Maciej Albinowski, 2022. "The role of fractional-reserve banking in amplifying credit booms: Evidence from panel data," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(1), pages 63-88, March.
    3. Francesco Columba, 2003. "Transaction Technology Innovation and Demand for Overnight Deposits in Italy," Temi di discussione (Economic working papers) 468, Bank of Italy, Economic Research and International Relations Area.
    4. Alexander C. Jung, 2015. "Does liquidity matter for money demand in euro area countries?," Economics Bulletin, AccessEcon, vol. 35(2), pages 1383-1391.
    5. de Bondt, Gabe, 2009. "Euro area money demand: empirical evidence on the role of equity and labour markets," Working Paper Series 1086, European Central Bank.
    6. Gabe J. De Bondt, 2010. "New Evidence On The Motives For Holding Euro Area Money," Manchester School, University of Manchester, vol. 78(3), pages 259-278, June.
    7. Maciej Albinowski, 2017. "The role of fractional-reserve banking in amplifying credit booms: evidence from panel data," Working Papers 2016-024, Warsaw School of Economics, Collegium of Economic Analysis.
    8. Jung, Alexander, 2016. "A portfolio demand approach for broad money in the euro area," Working Paper Series 1929, European Central Bank.

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    More about this item

    Keywords

    C22; C32; E41;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

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