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Currency Substitution and Cross-Border Monetary Aggregation
Mr.Timothy D. LaneMr.Stephen S. Poloz
其他書名
Evidence From the G-7
出版International Monetary Fund, 1992-10-01
主題Business & Economics / Money & Monetary PolicyBusiness & Economics / Foreign ExchangeBusiness & Economics / Economics / Macroeconomics
ISBN14519550499781451955040
URLhttp://books.google.com.hk/books?id=PYwYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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.