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dc.contributor.authorCarstensen, Kaien_US
dc.contributor.authorHagen, Janen_US
dc.contributor.authorHossfeld, Oliveren_US
dc.contributor.authorSalazar Neaves, Abelardoen_US
dc.date.accessioned2008-09-03en_US
dc.date.accessioned2009-04-09T07:48:02Z-
dc.date.available2009-04-09T07:48:02Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/24838-
dc.description.abstractIn 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 countryspecific 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 fort he disaggregate level.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel working paper 1443en_US
dc.subject.jelE41en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordMoney demanden_US
dc.subject.keywordstabilityen_US
dc.subject.keywordmoney overhangen_US
dc.subject.keywordinflation forecasten_US
dc.subject.stwGeldnachfrageen_US
dc.subject.stwSchätzungen_US
dc.subject.stwGeldmengeen_US
dc.subject.stwMonetärer Indikatoren_US
dc.subject.stwInflationen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwFrankreichen_US
dc.subject.stwSpanienen_US
dc.subject.stwItalienen_US
dc.titleMoney demand stability and inflation prediction in the four largest EMU countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn576815632en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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Kieler Arbeitspapiere, IfW

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