Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/1282

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dc.contributor.authorFreitas, Miguel Lebre de-
dc.date.accessioned2005-04-26T16:02:01Z-
dc.date.available2005-04-26T16:02:01Z-
dc.date.issued2003-
dc.identifier.urihttp://hdl.handle.net/1822/1282-
dc.description.abstractThis papers 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 US long term rate of interest 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 currency substitution vis-à-vis the US dollar may be an important factor influencing the ECB monetary policy.eng
dc.language.isoengeng
dc.publisherUniversidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)eng
dc.relation.ispartofseriesWorking paper serieseng
dc.relation.ispartofseries11eng
dc.rightsopenAccesseng
dc.subjectEMUeng
dc.subjectMoney Demandeng
dc.subjectInternational Currencieseng
dc.subjectCurrency Substitutioneng
dc.titleCurrency substitution and money demand in Eurolandeng
dc.typeworkingPapereng
Appears in Collections:NIPE - Documentos de Trabalho

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