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The current discussion about stability of the European money demand function is flawed by a confusion of two different … concepts of stability (adjustment speed versus error variance). The meaning and importance of the underlying notions of … stability is clarified. It is demonstrated that necessary and sufficient conditions for the two types of stability are mutually …
Persistent link: https://www.econbiz.de/10010398202
The current discussion about stability of the European money demand function is flawed by a confusion of two different … concepts of stability (adjustment speed versus error variance). The meaning and importance of the underlying notions of … stability is clarified. It is demonstrated that necessary and sufficient conditions for the two types of stability are mutually …
Persistent link: https://www.econbiz.de/10009755225
European Monetary Union will come into existence in 1999. This raises questions related to the monetary policy targets that will be adopted by the European Central Bank (ECB). For both likely candidates, targeting a money aggregate or an inflation target, the existence of a stable money demand...
Persistent link: https://www.econbiz.de/10010301138
European Monetary Union will come into existence in 1999. This raises questions related to the monetary policy targets that will be adopted by the European Central Bank (ECB). For both likely candidates, targeting a money aggregate or an inflation target, the existence of a stable money demand...
Persistent link: https://www.econbiz.de/10005412709
European Monetary Union will come into existence in 1999. This raises questions related to the monetary policy targets that will be adopted by the European Central Bank (ECB). For both likely candidates, targeting a money aggregate or an inflation target, the existence of a stable money demand...
Persistent link: https://www.econbiz.de/10008564973
European Monetary Union will come into existence in 1999. This raises questions related to the monetary policy targets that will be adopted by the European Central Bank (ECB). For both likely candidates, targeting a money aggregate or an inflation target, the existence of a stable money demand...
Persistent link: https://www.econbiz.de/10010515712
"The Quest for Stability" in Utrecht, the Netherlands. The papers contained in this SUERF Study jointly published with DNB …
Persistent link: https://www.econbiz.de/10011706504
Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium. …
Persistent link: https://www.econbiz.de/10011689943
Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium. …
Persistent link: https://www.econbiz.de/10008544608
The conditions under which European monetary policy is likely to be conducted are investigated by means of multi-variate time series modelling using aggregated data of all eleven European Monetary Union member states. A cointegration analysis identifies two stable long-run relationships within a...
Persistent link: https://www.econbiz.de/10010310206