This study re-assesses the validity of the quantity theory of money (QTM) for the very long sample, 1870 to 2020, for 18 industrial countries using the dataset from Jordà et al. (2017). It considers structural changes in the economic and financial sectors and changes in monetary policy...

This paper investigates possible non-linearities in the dynamics of the euro area demand for the narrow aggregate M1. A long-run money demand relationship is firstly estimated over a sample period covering the last three decades. While the parameters of the relationship are jointly stable, there...

Based on a literature review, this paper investigates the reasons why broad money demand has usually been found to be more stable in the euro area than in other large economies. The paper concludes that there are three main explanations for this fact. First, in some countries outside the euro...

Dieser Aufsatz beleuchtet auf der Grundlage eines Überblicks über die Fachliteratur die Faktoren, die als Erklärung dafür gelten können, dass die Nachfrage nach Geldmengenaggregaten in weiter Abgrenzung im Euro-Raum im Allgemeinen stabiler ist als in anderen großen Volkswirtschaften wie...