Template-Type:ReDIF-Paper 1.0  
Title:The Stability of European Money Demand: An Investigation of M3H 
Author-Name:Wesche, Katrin
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Classification-JEL:: E41, E52
Keywords:demand for money, European Monetary Union, cointegration 
Abstract:The paper assesses the stability and predictive performance of a European money demand function as
	compared to national money demand functions. Two different groups of countries for a monetary union are
	considered. With respect to the explanatory accuracy, the national functions perform better than the aggregated
	function though the difference is barely significant. Examination of the residuals of the national money demand
	equations indicates that currency substitution is not the major cause for the stability of the aggregated money demand
	function.
Length: pages
Creation-Date: 1995-11
Revision-Date: 
Handle: RePEc:bon:bonsfb:337
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonsfb/bonsfb337.pdf
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File-Size: 115837 bytes