المستودع الأكاديمي جامعة المدينة

Monetary Conditions in the Euro Area: Useful Indicators of Aggregate Demand Conditions?

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dc.creator Gottschalk, Jan
dc.date 2001
dc.date.accessioned 2013-10-16T06:56:32Z
dc.date.available 2013-10-16T06:56:32Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17732
dc.identifier ppn:329087517
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17732
dc.description This paper reviews the usefulness of monetary conditions in the euro area as leading indicators for aggregate demand conditions. Monetary conditions are measured with the MCI concept proposed by the Bank of Canada, and with the yield spread. A central result is that causality runs in both ways between monetary and aggregate demand conditions. The endogeneity of monetary conditions raises important implications for its role as a predictor of aggregate demand. It is shown that the information content of monetary conditions depends on the source of business cycle fluctuations and on the response of the central bank to those fluctuations.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1037
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E32
dc.subject E52
dc.subject E37
dc.subject ddc:330
dc.subject Monetary Conditions
dc.subject MCI
dc.subject Output Gap
dc.subject Konjunkturindikator
dc.subject Prognoseverfahren
dc.subject Gesamtwirtschaftliche Nachfrage
dc.subject Monetärer Indikator
dc.subject Zinsstruktur
dc.subject Wechselkurs
dc.subject Europäische Wirtschafts- und Währungsunion
dc.subject Schätzung
dc.subject EU-Staaten
dc.title Monetary Conditions in the Euro Area: Useful Indicators of Aggregate Demand Conditions?
dc.type doc-type:workingPaper
dc.coverage 1980-2000


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