dc.contributor.author | CARSTENSEN, Kai | |
dc.contributor.author | HAGEN, Jan | |
dc.contributor.author | HOSSFELD, Oliver | |
dc.contributor.author | NEAVES, Abelardo Salazar | |
dc.date.accessioned | 2011-04-19T12:46:52Z | |
dc.date.available | 2011-04-19T12:46:52Z | |
dc.date.issued | 2009 | |
dc.identifier.citation | Scottish Journal of Political Economy, 2009, 56, 1, 73-93 | |
dc.identifier.issn | 0036-9292 | |
dc.identifier.uri | https://hdl.handle.net/1814/16411 | |
dc.description.abstract | In this paper, we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 aggregate. For the case of Italy, results are less clear. From the estimated money demand functions, we derive both EMU-4 and country-specific measures of money overhang. We find that the EMU-4 overhang measure strongly correlates with the country-specific measures, particularly since the start of EMU, and is useful to predict country-specific inflation. However, it generally does not encompass country-specific money overhang measures as predictors of inflation. Hence, aggregate money overhang is an important, but by far not an exhaustive, indicator for the disaggregate level. | |
dc.language.iso | en | |
dc.publisher | Blackwell Publishing | |
dc.subject | E41 | |
dc.subject | E52 | |
dc.subject | Money demand | |
dc.subject | stability | |
dc.subject | money overhang | |
dc.subject | inflation forecast | |
dc.title | Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries | |
dc.type | Article | |
dc.identifier.doi | 10.1111/j.1467-9485.2009.00473.x | |
dc.neeo.contributor | CARSTENSEN|Kai|aut| | |
dc.neeo.contributor | HAGEN|Jan|aut| | |
dc.neeo.contributor | HOSSFELD|Oliver|aut| | |
dc.neeo.contributor | NEAVES|Abelardo Salazar|aut| | |
dc.identifier.volume | 56 | |
dc.identifier.startpage | 73 | |
dc.identifier.endpage | 93 | |
eui.subscribe.skip | true | |
dc.identifier.issue | 1 | |