Is European Money Demand Still Stable?

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17750

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DC Field	Value	Language
dc.creator	Carstensen, Kai	-
dc.date	2004	-
dc.date.accessioned	2013-10-16T06:56:35Z	-
dc.date.available	2013-10-16T06:56:35Z	-
dc.date.issued	2013-10-16	-
dc.identifier	http://hdl.handle.net/10419/17750	-
dc.identifier	ppn:385601360	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/17750	-
dc.description	This paper analyzes the question whether money demand in the Euro area has undergone a structural change in recent time when M3 money growth has considerably overshot the reference value set by the European Central Bank (ECB). It is found that conventional specifications of money demand have in fact become unstable while specifications which are augmented with equity returns and volatility remain stable. Using such an augmented specification, it turns out that the excessive M3 growth rates can largely be attributed to the stock market downswing and do not put a measurable threat to price stability.	-
dc.language	eng	-
dc.publisher	Kiel Institute for the World Economy (IfW) Kiel	-
dc.relation	Kieler Arbeitspapiere 1179 [rev.]	-
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen	-
dc.subject	E41	-
dc.subject	ddc:330	-
dc.subject	Money demand	-
dc.subject	EMU	-
dc.subject	excess liquidity	-
dc.subject	Geldnachfrage	-
dc.subject	Börsenkurs	-
dc.subject	Volatilität	-
dc.subject	Schätzung	-
dc.subject	EU-Staaten	-
dc.title	Is European Money Demand Still Stable?	-
dc.type	doc-type:workingPaper	-
Appears in Collections:	EconStor

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