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| Author: | Coenen, G. Levin, A. Wieland, V |
| Title: | Data uncertainty and the role of money as an information variable for monetary policy |
| Journal: | European Economic Review
2005 : MAY, VOL. 48:4, p. 975-1006 |
| Index terms: | Euro Money Monetary policy Macroeconomic models |
| Language: | eng |
| Abstract: | This article explores the role of money as an indicator variable for monetary policy in the euro area. The findings show that monetary aggregates (hereafter as: m-as) are potentially significant in providing information about current real output. Even though it is shown that m-as may have essential information content in some environments, it is finally concluded that as an indicator of contemporaneous aggregate demand in the euro area, money has still quite limited information content. |
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