The (in)stability of money demand in the Euro area
Nautz, Dieter ;  Rondorf, Ulrike ;  ;  Universität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft

Main titleThe (in)stability of money demand in the Euro area
Subtitlelessons from a cross-country analysis
AuthorNautz, Dieter
AuthorRondorf, Ulrike
EditorUniversität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft
No. of Pages22 S.
Series ; 2010,17 : Economics
KeywordsMoney demand; cross-country analysis; panel error correction model; euro area
Classification (DDC)337 International economics
AbstractThe instability of standard money demand functions has undermined
the role of monetary aggregates for monetary policy analysis in the euro
area. This paper uses country-specific monetary aggregates to shed more
light on the economics behind the instability of euro area money demand.
Our results obtained from panel estimation indicate that the observed
instability of standard money demand functions could be explained by
omitted variables like e.g. technological progress that are important for
money demand but constant across member countries.
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FU DepartmentDepartment Business and Economics
Other affiliation(s)Institut für Statistik und Ökonometrie
Year of publication2010
Type of documentBook
Terms of use/Rights Nutzungsbedingungen
Created at2010-09-08 : 12:35:23
Last changed2016-01-05 : 02:38:20
Static URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000006550