Currency Substitution and Money Demand in Euroland
Miguel de Freitas ()
Atlantic Economic Journal, 2006, vol. 34, issue 3, 275-287
This paper tests the stability of the demand for money in the euro-area in the context of an open economy. A sample consisting of quarterly data covering the 1982:2–1999:3 period is considered. The main finding is that the U.S. dollar long-term interest rate plays a significant role in the European money demand relationship. This result holds for different combinations of variables forming the vector auto-regressive system and suggests that international monetary interdependency may be an important factor influencing the ECB monetary policy. Copyright International Atlantic Economic Society 2006
Keywords: EMU; money demand; international currencies; currency substitution; E41; E58; F41 (search for similar items in EconPapers)
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Working Paper: Currency Substitution and Money Demand in Euroland (2010)
Working Paper: Currency substitution and money demand in Euroland (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:kap:atlecj:v:34:y:2006:i:3:p:275-287
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