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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:
Government And The Monetary System
Payment Systems
Income
Dollarization
Currency; Foreign Exchange
Monetary Economics
Regimes
Personal Income
National Accounts
Personal Income, Wealth, And Their Distributions
Money
Foreign Exchange
Standards
Demand For Money
Currencies
Monetary Systems
Macroeconomics
Monetary Policy
Exchange Rates
Money And Monetary Policy
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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