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Sonderforschungsbereich 373: Quantification and Simulation of Economic Processes, Humboldt-Universität Berlin >
Discussion Papers, SFB 373, HU Berlin >
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http://hdl.handle.net/10419/62205
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| Title: | | Currency substitution and the stability of the Italian demand for money before the entry into the monetary union, 1972 - 1998  |
| Authors: | | Nielsen, Hannah Tullio, Giuseppe Wolters, Jürgen |
| Issue Date: | | 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: | | urn:nbn:de:kobv:11-10047928 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Discussion Papers, SFB 373, HU Berlin
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