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Money Demand in Europe

  • Helmut Lütkepohl
  • Jürgen Wolters

Part of the Studies in Empirical Economics book series (STUDEMP)

Table of contents

  1. Front Matter
    Pages I-X
  2. Methodological studies

  3. Single country studies

    1. Helmut Lütkepohl, Jürgen Wolters
      Pages 105-120
    2. Juan Luis Vega
      Pages 121-134
    3. Neil R. Ericsson, Sunil Sharma
      Pages 151-170
  4. Multi-country studies

    1. Gabriel Fagan, Jérôme Henry
      Pages 217-240
    2. Martin M. G. Fase, Carlo C. A. Winder
      Pages 241-258
  5. Back Matter
    Pages 259-260

About these proceedings

Introduction

In 1999 a number of member states of the European Union will adopt a common currency. This change in the monetary system requires that a Eur­ opean Central Bank is set up and a common monetary policy is pursued. There is general agreement among those countries which are likely to join the common currency that price level stability has to be the ultimate objec­ tive of monetary po1icy. It is an open issue, however, what kind of policy is best suited for that purpose. The alternative strategies under discussion are a direct inflation targeting, an intermediate monetary targeting or a mixture of both. For these policy strategies a stable money demand relation is of cen­ tral importance. Therefore a workshop on Money Demand in Europe was organized at the Humboldt University in Berlin on October 10/11, 1997. This research conference brought together academic and central bank econo­ mists and econometricians predominantly from Europe to discuss issues on specification, estimation and, in particular, stability of money demand rela­ tions both in a single equation and in a systems framework. In this volume revised versions of the papers presented and discussed at the workshop are collected. The volume thereby gives an overview of money demand analysis in Europe on the eve of the introduction of the Euro in some European countries. It contributes to the discussion on a suitable monetary policy for the new European Central Bank.

Keywords

Direct Inflation Targeting Euro Euro Currency Euro-Währung European Central Bank European Union (EU) Europäische Zentralbank Geldnachfrage Inflation Money Demand

Editors and affiliations

  • Helmut Lütkepohl
    • 1
  • Jürgen Wolters
    • 2
  1. 1.Institut für Statistik und Ökonometrie Wirtschaftswissenschaftliche FakultätHumboldt-Universität zu BerlinBerlinGermany
  2. 2.Institut für Statistik und Ökonometrie Fachbereich WirtschaftswissenschaftFreie Universität BerlinBerlinGermany

Bibliographic information