@techreport{Muller2000Money,
abstract = {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 set of five key macroeconomic variables, one of which can be interpreted as a money demand function and a sec(md one as a long term real interest rate (Fisher parity). Our findings indicate that monetary authorities might well be able to base their policy on the existence of a money demand. Particular emphasis is given both to the data sources and their aggregation, by providing a transparent account of our calculation procedure, which is not yet common in the existing literature.},
address = {Berlin},
author = {Christian M\"{u}ller and Elke Hahn},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E41; E52; C32; 330; european money demand; monetary targeting; aggregation},
language = {eng},
note = {urn:nbn:de:kobv:11-10047427},
number = {2000,35},
publisher = {Humboldt-Universit\"{a}t},
title = {Money demand in Europe: Evidence from the past},
type = {Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes},
url = {http://hdl.handle.net/10419/62191},
year = {2000}
}
