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Issues in Money Demand: The Case of Europe

✍ Scribed by Mike Artis; Andreas Beyer

Book ID
110730355
Publisher
John Wiley and Sons
Year
2004
Tongue
English
Weight
371 KB
Volume
42
Category
Article
ISSN
0021-9886

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Money demand functions have long been known to be frequently subject to structural change. Since their use for optimal monetary policy design is basically a forecasting exercise, it is crucial to analyse the eect of time instability on the quality of their forecasts. We discuss in this paper whether