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http://hdl.handle.net/10419/19611
  

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dc.contributor.authorLemke, Wolfgangen_US
dc.contributor.authorGreiber, Clausen_US
dc.coverage.temporal2001-2004en_US
dc.date.accessioned2009-01-28T16:01:27Z-
dc.date.available2009-01-28T16:01:27Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/19611-
dc.description.abstractIn this study we construct a measure of macroeconomic uncertainty from several observable economic indicators for the euro area. Indicator variables are based on financial market data, such as medium-term returns, loss and volatility measures but also come from surveys that capture business and consumer sentiment. From these we estimate the path of underlying macroeconomic uncertainty using an unobserved components model. Employing cointegration analysis it is demonstrated that the extracted measures of uncertainty help to explain the increase in euro area M3 over the period 2001 to 2004. Similar evidence can be found for US monetary aggregates.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,26en_US
dc.subject.jelE41en_US
dc.subject.ddc330en_US
dc.subject.keywordMoney demanden_US
dc.subject.keywordMacroeconomic Uncertaintyen_US
dc.subject.keywordExcess Liquidityen_US
dc.subject.stwGeldnachfrageen_US
dc.subject.stwGeldmengeen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwMakroökonomischer Einflußen_US
dc.subject.stwSchätzungen_US
dc.subject.stwEU-Staatenen_US
dc.subject.stwUSAen_US
dc.titleMoney demand and macroeconomic uncertaintyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn497373440en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:4220-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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