Lütkepohl, Helmut; Brüggemann, Ralf - In: Journal of Applied Econometrics 21 (2006) 6, pp. 683-702
Previous euro area money demand studies have used aggregated national time series data from the countries participating in the European Monetary Union (EMU). However, aggregation may be problematic because macroeconomic convergence processes have taken place in the countries of interest....