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Money Demand in Europe

  • Conference proceedings
  • © 1999

Overview

Editors:
  1. Helmut Lütkepohl

    1. Institut für Statistik und Ökonometrie Wirtschaftswissenschaftliche Fakultät, Humboldt-Universität zu Berlin, Berlin, Germany

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  2. Jürgen Wolters

    1. Institut für Statistik und Ökonometrie Fachbereich Wirtschaftswissenschaft, Freie Universität Berlin, Berlin, Germany

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Part of the book series: Studies in Empirical Economics (STUDEMP)

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Table of contents (13 papers)

  1. Front Matter

    Pages I-X
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  2. Methodological studies

    1. Exogeneity, causality, and co-breaking in economic policy analysis of a small econometric model of money in the UK

      • David F. Hendry, Grayham E. Mizon
      Pages 1-28

    2. Empirical modeling of money demand

      • Neil R. Ericsson
      Pages 29-49

  3. Single country studies

    1. Stability of the demand for M1 and harmonized M3 in Finland

      • Antti Ripatti
      Pages 51-71

    2. The demand for broad money in Norway, 1969–1993

      • Øyvind Eitrheim
      Pages 73-88

    3. The stability of German money demand: Not just a myth

      • Michael Scharnagl
      Pages 89-104

    4. A money demand system for German M3

      • Helmut Lütkepohl, Jürgen Wolters
      Pages 105-120

    5. Money demand stability: Evidence from Spain

      • Juan Luis Vega
      Pages 121-134

    6. Friedman and Schwartz (1982) revisited: Assessing annual and phase-average models of money demand in the United Kingdom

      • Neil R. Ericsson, David F. Hendry, Kevin M. Prestwich
      Pages 135-149

    7. Broad money demand and financial liberalization in Greece

      • Neil R. Ericsson, Sunil Sharma
      Pages 151-170

    8. Stability of money demand in Switzerland: A comparison of the M2 and M3 cases

      • Michel Peytrignet, Christof Stahel
      Pages 171-188

  4. Multi-country studies

    1. Changing monetary transmission mechanisms within the EU

      • Katarina Juselius
      Pages 189-215

    2. Long run money demand in the EU: Evidence for area-wide aggregates

      • Gabriel Fagan, Jérôme Henry
      Pages 217-240

    3. Wealth and the demand for money in the European Union

      • Martin M. G. Fase, Carlo C. A. Winder
      Pages 241-258

  5. Back Matter

    Pages 259-260
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Keywords

About this book

In 1999 a number of member states of the European Union will adopt a common currency. This change in the monetary system requires that a Eur­ opean Central Bank is set up and a common monetary policy is pursued. There is general agreement among those countries which are likely to join the common currency that price level stability has to be the ultimate objec­ tive of monetary po1icy. It is an open issue, however, what kind of policy is best suited for that purpose. The alternative strategies under discussion are a direct inflation targeting, an intermediate monetary targeting or a mixture of both. For these policy strategies a stable money demand relation is of cen­ tral importance. Therefore a workshop on Money Demand in Europe was organized at the Humboldt University in Berlin on October 10/11, 1997. This research conference brought together academic and central bank econo­ mists and econometricians predominantly from Europe to discuss issues on specification, estimation and, in particular, stability of money demand rela­ tions both in a single equation and in a systems framework. In this volume revised versions of the papers presented and discussed at the workshop are collected. The volume thereby gives an overview of money demand analysis in Europe on the eve of the introduction of the Euro in some European countries. It contributes to the discussion on a suitable monetary policy for the new European Central Bank.

Editors and Affiliations

  • Institut für Statistik und Ökonometrie Wirtschaftswissenschaftliche Fakultät, Humboldt-Universität zu Berlin, Berlin, Germany

    Helmut Lütkepohl

  • Institut für Statistik und Ökonometrie Fachbereich Wirtschaftswissenschaft, Freie Universität Berlin, Berlin, Germany

    Jürgen Wolters

Bibliographic Information

  • Book Title: Money Demand in Europe

  • Editors: Helmut Lütkepohl, Jürgen Wolters

  • Series Title: Studies in Empirical Economics

  • DOI: https://doi.org/10.1007/978-3-662-12539-7

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1999

  • Hardcover ISBN: 978-3-7908-1182-7Published: 18 February 1999

  • Softcover ISBN: 978-3-7908-2460-5Published: 19 October 2010

  • eBook ISBN: 978-3-662-12539-7Published: 17 April 2013

  • Series ISSN: 1431-8830

  • Series E-ISSN: 2196-8950

  • Edition Number: 1

  • Number of Pages: X, 260

  • Topics: Macroeconomics/Monetary Economics//Financial Economics, European Integration

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