Publication
Title
The stability of EMU-wide money demand functions and the monetary policy strategy of the European Central Bank
Author
Abstract
In this paper we investigate whether monetary aggregates could play a role as either intermediate targets or indicators of the single monetary policy of the European Central Bank (ECB). To this end we estimate money demand functions for the European Economic and Monetary Union and test for their stability. Our estimations suggest that M3H in particular can play a role in both a monetary and an inflation targeting strategy. If the ECB chooses to opt for an inflation targeting strategy MR and even M1 in addition to M3H, may well serve as important indicators, alongside a number of other financial and real variables.
Language
English
Source (journal)
MANCHESTER SCHOOL
Publication
2000
Volume/pages
68:2(2000), p. 184-202
ISI
000086288500003
Full text (Publishers DOI)
Full text (publishers version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 03.01.2013
Last edited 09.03.2017
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