Financial Innovations and the Stability of the Demand for Money in Germany since 1974

Stephen F. Frowen and Heinrich Schlomann

Chapter 4 in Monetary Policy and Financial Innovations in Five Industrial Countries, 1992, pp 59-81 from Palgrave Macmillan

Abstract: Abstract The Federal Republic of Germany has experienced a stronger dependence on foreign money markets after a large increase in both domestic and foreign interest rates in the early 1970s. In this chapter we examine the effects of this stronger dependence on the stability of the demand for money in West Germany.

Keywords: Exchange Rate; Interest Rate; Central Bank; Structural Break; Money Market (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-21684-0_4

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DOI: 10.1007/978-1-349-21684-0_4

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