Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62205
Authors: 
Nielsen, Hannah
Tullio, Giuseppe
Wolters, Jürgen
Year of Publication: 
2000
Series/Report no.: 
Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes 2000,66
Abstract: 
A money demand function for M2 is estimated for Italy for the period 1972-1998 within an error correction framework. This period has been characterized by major structural changes in the Italian financial system and by major changes in monetary policy. This study takes these changes into account. Moreover, currency substitution, especially between Italy and Germany is incorporated into the model. By accounting for structural breaks and currency substitution a stable money demand function can be found.
Subjects: 
Money demand
error correction model
structural changes
JEL: 
E41
C22
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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