The stability of EMU-wide money demand functions and the monetary policy strategy of the European Central Bank.
The writers examine whether monetary aggregates could play a role as either intermediate targets or indicators of the single monetary policy of the European Central Bank (ECB). They consider four monetary aggregates as candidate intermediate target variables or indicators of monetary policy—M1, M3H...
| Publicado en: | Manchester School (14636786) Vol. 68no2; no. 2; pp. 184 - 203 |
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| Formato: | Artículo |
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Wiley-Blackwell
March 2000
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512948244&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512948244 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 14636786 MSE jtl: Manchester School (14636786) issn: 14636786 maglogo: N pubinfo: dt: March 2000 vid: 68no2 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 512948244 10.1111/1467-9957.00189 ppf: 184 ppct: 19 formats: tig: atl: The stability of EMU-wide money demand functions and the monetary policy strategy of the European Central Bank. aug: au: Bruggeman, Annick su: European Central Bank European Union Demand for money Monetary policy Money supply Vector autoregression model European Union countries sug: subj: European Union countries European Central Bank European Union Demand for money Monetary policy Money supply Vector autoregression model ab: The writers examine whether monetary aggregates could play a role as either intermediate targets or indicators of the single monetary policy of the European Central Bank (ECB). They consider four monetary aggregates as candidate intermediate target variables or indicators of monetary policy—M1, M3H, MB, and MR. They estimate the money demand functions for the European Economic and Monetary Union and test their stability. They find that M3H, in particular, can play a role in both a monetary and an inflation targeting strategy. They contend that if the ECB chooses an inflation targeting strategy, in addition to M3H, MR and M1 may well serve as important indicators, together with a number of other financial and real variables. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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