This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …

This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …

This paper examines the relevance of the Lucas critique for euro area money demand. Based on the money in the utility … results show that the Lucas critique can be refuted in case of euro area money demand for the period of quantitative easing …

paper re-investigates the stability properties of M3 demandin the euro area in the light of the recent economic crisis. A …

Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand …

Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …) estimation methods. To obtain the result, the short run homogeneity restriction between money and prices is relaxed. In addition …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …

Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand …