Studies in Empirical Economics

Money Demand in Europe

Editors: Lütkepohl, Helmut, Wolters, Jürgen (Eds.)

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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.

Table of contents (13 chapters)

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

    Hendry, David F. (et al.)

    Pages 1-28

  • Empirical modeling of money demand

    Ericsson, Neil R.

    Pages 29-49

  • Stability of the demand for M1 and harmonized M3 in Finland

    Ripatti, Antti

    Pages 51-71

  • The demand for broad money in Norway, 1969–1993

    Eitrheim, Øyvind

    Pages 73-88

  • The stability of German money demand: Not just a myth

    Scharnagl, Michael

    Pages 89-104

Buy this book

eBook $139.00
price for USA (gross)
  • ISBN 978-3-662-12539-7
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $179.00
price for USA
  • ISBN 978-3-7908-1182-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $179.00
price for USA
  • ISBN 978-3-7908-2460-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Money Demand in Europe
Editors
  • Helmut Lütkepohl
  • Jürgen Wolters
Series Title
Studies in Empirical Economics
Copyright
1999
Publisher
Physica-Verlag Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-662-12539-7
DOI
10.1007/978-3-662-12539-7
Hardcover ISBN
978-3-7908-1182-7
Softcover ISBN
978-3-7908-2460-5
Series ISSN
1431-8830
Edition Number
1
Number of Pages
X, 260
Topics