Core ERM Money Demand and Effects on Inflation
Timothy D Lane and
Paul Masson ()
The Manchester School of Economic & Social Studies, 1997, vol. 65, issue 1, 1-24
This paper presents evidence supporting the existence of a stable money demand relationship for Germany plus a core group of countries--France, Belgium, Denmark, Luxembourg--that have not realigned their parities against the deutsche mark since at least 1987. The predictive power of the core-ERM aggregate for French and German inflation is also examined; it is shown that the ERM aggregate is a better predictor of German inflation than the German monetary aggregate alone. Thus, the ERM money supply is a useful indicator for German monetary policy, even if the latter only focuses on achieving domestic inflation targets. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester
References: Add references at CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:manch2:v:65:y:1997:i:1:p:1-24
Access Statistics for this article
More articles in The Manchester School of Economic & Social Studies from University of Manchester Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().