Money demand in the Euro Area : where do we stand (today)? /
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| Author / Creator: | Kontolemis, Zenon G. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2002. |
| Description: | 1 online resource (29 pages) : illustrations |
| Language: | English |
| Series: | IMF working paper ; WP/02/185 IMF working paper ; WP/02/185. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12497464 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 no.02/185 | |
| 100 | 1 | |a Kontolemis, Zenon G. |0 http://id.loc.gov/authorities/names/no96045577 | |
| 245 | 1 | 0 | |a Money demand in the Euro Area : |b where do we stand (today)? / |c prepared by Zenon G. Kontolemis. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2002. | ||
| 300 | |a 1 online resource (29 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/02/185 | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
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| 588 | 0 | |a Print version record. | |
| 520 | 8 | |a Annotation |b The paper reviews the stability of long-run money demand in the euro area in the light of recent revisions to M3 data. the analysis confirms the existence of a stable long-run money demand, although the estimated equation implies a smaller equilibrium M3 growth than the European Central Bank's reference value of 4 percent. the stability of long-run money demand does not imply that the market is always in equilibrium. Indeed, it is argued that periods of disequilibrium can be long and adjustment slow. the paper shows that the difference between the low estimated equilibrium growth rate and the actual growth rate for M3 can be explained by a velocity shock, identified here as the sharp fall in equity prices in the last two years. These characteristics of the money market-summarized in the events of the last two years-would call for an alternative approach in the communication of monetary policy developments, essentially putting less emphasis on month-to-month developments in M3. | |
| 504 | |a Includes bibliographical references (pages 27-29). | ||
| 546 | |a English. | ||
| 610 | 2 | 6 | |a Union économique et monétaire. |
| 650 | 0 | |a Demand for money |z European Union countries |x Econometric models. | |
| 650 | 0 | |a Monetary policy |z European Union countries |x Econometric models. | |
| 650 | 0 | |a Cointegration |z European Union countries |x Econometric models. | |
| 650 | 0 | |a Equilibrium (Economics) |x Econometric models. | |
| 650 | 6 | |a Monnaie |x Demande |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 6 | |a Masse monétaire |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 6 | |a Équilibre (Économie politique) |x Modèles économétriques. | |
| 650 | 6 | |a Cointégration |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 7 | |a Equilibrium (Economics) |x Econometric models. |2 fast |0 (OCoLC)fst00914548 | |
| 650 | 7 | |a Demand for money |x Econometric models. |2 fast |0 (OCoLC)fst00890034 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 651 | 7 | |a European Union countries. |2 fast |0 (OCoLC)fst01269470 | |
| 710 | 2 | |a International Monetary Fund. |b European I Department. |0 http://id.loc.gov/authorities/names/no92021092 | |
| 776 | 0 | 8 | |i Print version: |a Kontolemis, Zenon G. |t Money demand in the Euro Area. |d [Washington, D.C.] : International Monetary Fund, ©2002 |w (OCoLC)51270029 |
| 830 | 0 | |a IMF working paper ; |v WP/02/185. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2002/185/001.2002.issue-185-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 no.02/185 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2002/185/001.2002.issue-185-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12141501 | ||