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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/32455
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Setzer, Ralph | | en_US |
| dc.contributor.author | | van den Noord, Paul | | en_US |
| dc.contributor.author | | Wolff, Guntram B. | | en_US |
| dc.date.accessioned | | 2010-05-03 | | en_US |
| dc.date.accessioned | | 2010-05-14T13:48:09Z | | - |
| dc.date.available | | 2010-05-14T13:48:09Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.isbn | | 978-3-86558-601-8 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/32455 | | - |
| dc.description.abstract | | In this paper we examine why monetary aggregates of euro area Member States have developed differently since the inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices and higher user costs of housing are both associated with larger money holdings. Country-specific money holdings are also connected with structural features of the housing market. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Dt. Bundesbank Frankfurt, M. | | en_US |
| dc.relation.ispartofseries | | Discussion Paper Series 1: Economic Studies 2010,04 | | en_US |
| dc.subject.jel | | E41 | | en_US |
| dc.subject.jel | | E51 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Money | | en_US |
| dc.subject.keyword | | housing | | en_US |
| dc.subject.keyword | | national contribution | | en_US |
| dc.subject.keyword | | euro area | | en_US |
| dc.subject.stw | | Geldnachfrage | | en_US |
| dc.subject.stw | | Wohneigentum | | en_US |
| dc.subject.stw | | Immobilienpreis | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Eurozone | | en_US |
| dc.title | | Heterogeneity in money holdings across euro area countries: The role of housing | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 625131312 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:bubdp1:201004 | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
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