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Similarity of supply and demand shocks between the euro area and the CEECs

✍ Scribed by Jarko Fidrmuc; Iikka Korhonen


Book ID
116424557
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
218 KB
Volume
27
Category
Article
ISSN
0939-3625

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✍ G. Coenen; J.-L. Vega πŸ“‚ Article πŸ“… 2001 πŸ› John Wiley and Sons 🌐 English βš– 220 KB

## 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