Aggregierte Geldnachfrage in Europa. Eine empirische Untersuchung der Geldmenge M1
The paper investigates the existence of a stable money demand function for four major european countries. Estimation of individual and aggregate money demand functions is performed using the cointegration framework developed by Engle and Granger (1987). The results for aggregate and individual equations are compared with respect to parameter values, explanatory power, and forecasting performance.
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- Monticelli, Carlo & Strauss-Kahn, Marc-Olivier, 1993.
"European Integration and the Demand for Broad Money,"
The Manchester School of Economic & Social Studies,
University of Manchester, vol. 61(4), pages 345-66, December.
- Carlo Monticelli & Marc-Olivier Strauss-Kahn, 1992. "European integration and the demand for broad money," BIS Working Papers 18, Bank for International Settlements.
- Edwards, John B & Orcutt, Guy H, 1969. "Should Aggregation Prior to Estimation Be the Rule?," The Review of Economics and Statistics, MIT Press, vol. 51(4), pages 409-20, November.
- Banerjee, Anindya, et al, 1986. "Exploring Equilibrium Relationships in Econometrics through Static Models: Some Monte Carlo Evidence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 253-77, August.
- Knox Lovell, C. A., 1973. "A note on aggregation bias and loss," Journal of Econometrics, Elsevier, vol. 1(3), pages 301-311, October.
- Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
- Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
- Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
- Jeroen J. M. Kremers & Timothy D. Lane, 1990. "Economic and Monetary Integration and the Aggregate Demand for Money in the EMS," IMF Staff Papers, Palgrave Macmillan, vol. 37(4), pages 777-805, December.
- Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, vol. 10(2), pages 139-162.
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