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Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/37401
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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 | | 2010-08-11T08:56:15Z | | - |
| dc.date.available | | 2010-08-11T08:56:15Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/37401 | | - |
| 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. We infer from these findings that housing developments should feature prominently in the ECB's monetary analysis. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Verein für Socialpolitik Frankfurt a. M. | | en_US |
| dc.relation.ispartofseries | | Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Trade, Financial Markets, and the Euro E12-V3 | | 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, housing, national contribution, euro area | | en_US |
| dc.title | | Heterogeneity in money holdings across euro area countries: the role of housing | | en_US |
| dc.type | | Conference Paper | | en_US |
| dc.identifier.ppn | | 65583981X | | - |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie
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