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The Implications of Cross-Border Monetary Aggregation

Some recent studies suggest the possibility of estimating a stable aggregate demand-for-money relationship for the group of countries participating in the European Monetary System. These results are of particular relevance in connection with the task of setting policy targets for a European Central...

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Bibliographic Details
Main Author: Lane, Timothy
Other Authors: Kremers, Jeroen
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1992
Series:IMF Working Papers
Subjects:
National Accounts
Measurement And Data On National Income And Product Accounts And Wealth
Macroeconomics
Personal Income, Wealth, And Their Distributions
Demand For Money
Money And Monetary Policy
Currencies
Monetary Policy
Dollarization
Monetary Economics
Financial Aspects Of Economic Integration
Index Numbers And Aggregation
Personal Income
Standards
Leading Indicators
Regimes
Money
Environmental Accounts
Monetary Systems
National Income
Income
Government And The Monetary System
Payment Systems
Germany
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Some recent studies suggest the possibility of estimating a stable aggregate demand-for-money relationship for the group of countries participating in the European Monetary System. These results are of particular relevance in connection with the task of setting policy targets for a European Central Bank. This paper uses a theoretical error-invariables framework to identify what is gained and what may be lost through cross-border aggregation of money demand. It provides an analytical basis for such studies, paying particular attention to currency substitution and international portfolio diversification
Physical Description:22 pages
ISBN:9781451959789

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