𝔖 Bobbio Scriptorium
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FINANCIAL INNOVATION AND THE DEMAND FOR £M3 IN THE UK 1975–86

✍ Scribed by Christopher S. Adam

Book ID
115232746
Publisher
John Wiley and Sons
Year
2009
Tongue
English
Weight
208 KB
Volume
53
Category
Article
ISSN
0140-5543

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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