Dreger, Christian; Wolters, Jürgen - In: Empirica 36 (2009) 1, pp. 51-63
Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand … function seems to be increasingly unstable if more recent data are used. If the link between money balances and the … of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …