Econometric Modelling of European Money Demand : Aggregation, Cointegration, Identification

1 Introduction -- 2 Econometric Modelling -- 3 Autoregressive Probability Models -- 4 Structural ECM Models -- 5 Aggregation -- 6 Empirical Money Demand -- 7 Conclusions -- A Technical Appendix -- A.1 Expansion of Polynomials -- A.2 Granger Representation Theorem -- A.3 Concentration of Likelihoodfunction -- A.4 Aggregation of Indices -- A.5 Identification of Cointegration Vectors -- A.6 Invalid SECM for Germany -- A.7 Data Sources -- List of Abbreviations -- List of Mathematical Symbols -- References.