Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …

This paper sets out to build a synthetic quarterly Divisia monetary aggregate for the euro area using area wide data … regards future output and inflation in the euro area is analysed. The outcome of this analysis suggests that the Divisia … important role in shaping monetary policy in the euro area …

This paper builds a quarterly Divisia monetary aggregate for the euro area using area-wide data over the sample period … sense - liquidity services should be assigned an important role in shaping monetary policy in the euro area, although the …

To facilitate a more detailed study of the volume of euro banknotes in circulation issued by the Deutsche Bundesbank …, around 65% to 70% of the arithmetical volume of euro banknotes issued by the Bundesbank were in circulation outside Germany … at the end of 2015; of this figure, 40 to 50 percentage points were in circulation outside the euro area, and 20 to 30 …

In this paper, an empirically stable money demand model for M3 in the euro area is constructed. Starting with a …

In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows … stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR …

In this paper we examine why monetary aggregates of euro area Member States have developed differently since the … inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution …

-time experiment shows that real M1 can improve output gap estimates for euro area data. For many periods the cyclical component of …

nominal money and the price level in the euro area are integrated of order two. This is confirmed by applying tests on double …