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dc.contributor.authorCarstensen, Kaien
dc.contributor.authorHagen, Janen
dc.contributor.authorHossfeld, Oliveren
dc.contributor.authorSalazar Neaves, Abelardoen
dc.date.accessioned2008-09-03-
dc.date.accessioned2009-04-09T07:48:02Z-
dc.date.available2009-04-09T07:48:02Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1443en
dc.subject.jelE41en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordMoney demanden
dc.subject.keywordstabilityen
dc.subject.keywordmoney overhangen
dc.subject.keywordinflation forecasten
dc.subject.stwGeldnachfrageen
dc.subject.stwSchätzungen
dc.subject.stwGeldmengeen
dc.subject.stwMonetärer Indikatoren
dc.subject.stwInflationen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwDeutschlanden
dc.subject.stwFrankreichen
dc.subject.stwSpanienen
dc.subject.stwItalienen
dc.titleMoney demand stability and inflation prediction in the four largest EMU countries-
dc.typeWorking Paperen
dc.identifier.ppn576815632en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1443en

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