English, Article, Journal or magazine article edition: The Stability of European Money Demand: An Investigation of M3H Wesche, Katrin

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Bookmark: http://trove.nla.gov.au/version/52079
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Stability of European Money Demand: An Investigation of M3H
Author
  • Wesche, Katrin
Physical Description
  • preprint
Notes
  • The paper assesses the stability and predictive performance of a European money demand function as compared to national money demand functions. Two different groups of countries for a monetary union are considered. With respect to the explanatory accuracy, the national functions perform better than the aggregated function though the difference is barely significant. Examination of the residuals of the national money demand equations indicates that currency substitution is not the major cause for the stability of the aggregated money demand function.
  • demand for money, European Monetary Union, cointegration
  • RePEc:bon:bonsfb:337
Language
  • English
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