## 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
M3 money demand and excess liquidity in the euro area
✍ Scribed by Christian Dreger; Jürgen Wolters
- Publisher
- Springer US
- Year
- 2010
- Tongue
- English
- Weight
- 553 KB
- Volume
- 144
- Category
- Article
- ISSN
- 0048-5829
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