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| Tekijä: | Calza, A. Jung, A. Stracca, L. |
| Otsikko: | An econometric analysis of the main components of MPs in the Euro area |
| Lehti: | Weltwirtschaftliches Archiv
2000 : VOL. 136:4, p. 680-701 |
| Asiasana: | ECONOMETRICS MONETARY POLICY EUROPE |
| Kieli: | eng |
| Tiivistelmä: | The main result is that the four components of M3 in the euro area can be explained in terms of a small set of explanatory variables (nominal GDP and interest rates) for the sample period January 1990- September 1999 both in terms of levels and as shares of M3. Moreover, overall cointegration tests broadly support the hypothesis of long-run stability of the demand for the components of M3 and for M3 itself in nominal terms. |
SCIMA