The Information Contents of Aggregated Money Demand in the EMU

Frank Butter and Simon Dijken

Open Economies Review, 1997, vol. 8, issue 3, 233-244

Abstract: Estimates of aggregated and disaggregated demand-for-money functions in 7 EMU member states show that the aggregated function slightly outperforms the disaggregated functions in explaining the European demand for M3. The aggregated function appears to contain some additional information on money demand in The Netherlands and, to a lesser extent, in France. For the other countries investigated in this study information on aggregated European money demand does not add much to the explanation of demand for money in the individual countries. Copyright Kluwer Academic Publishers 1997

Keywords: money demand; EMU; aggregation; combining information (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1023/A:1008290714581

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