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Currency Substitution and Cross-Border Monetary Aggregation Evidence From the G-7

Is there a stable aggregate money demand relationship for Europe? If so, why, and if not, why not? These questions are important for the implementation of policy by a European central bank, as well as for the appropriate speed of transition to EMU. This paper addresses them in a multi-country empiri...

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Bibliographic Details
Main Author: Lane, Timothy
Other Authors: Poloz, Stephen
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1992
Series:IMF Working Papers
Subjects:
Income
Money And Monetary Policy
Government And The Monetary System
Demand For Money
Currency
Money
Exchange Rates
Monetary Policy
Foreign Exchange
Personal Income, Wealth, And Their Distributions
Personal Income
Currencies
Dollarization
Macroeconomics
Regimes
Monetary Economics
Monetary Systems
National Accounts
Standards
Payment Systems
Germany
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Is there a stable aggregate money demand relationship for Europe? If so, why, and if not, why not? These questions are important for the implementation of policy by a European central bank, as well as for the appropriate speed of transition to EMU. This paper addresses them in a multi-country empirical study of money demand for the G-7 countries during the period since 1973. It looks for evidence of currency substitution and tests the restrictions implied by cross-border aggregation within Europe
Physical Description:36 pages
ISBN:9781451955040

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