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Demand for money in the Euro area

✍ Scribed by Shigeyuki Hamori; Naoko Hamori


Book ID
116424711
Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
161 KB
Volume
32
Category
Article
ISSN
0939-3625

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The demand for M3 in the euro area
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## Abstract In this paper, an empirically stable money demand model for M3 in the euro area is constructed. Starting with a multivariate system, three cointegrating relationships with economic content are found: (i) the spread between the long‐term and the short‐term nominal interest rates, (ii) th