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Zonder onderwerpscode: financiewezen

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This paper discusses the effect of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EC countries. The analysis is developed in terms of “information content” of alternative money definitions (including or excluding selected subsets of CBDs), derived from a multicountry simultaneous system of money demand equations. We show that in the most recent period traditional money aggregates have lost information value and that they are dominated by alternative money definitions that include CBDs, such as those based on the residency of the holder or on the currency of denomination.

Macroeconomics --- Money and Monetary Policy --- Demand for Money --- Monetary Policy --- Financial Aspects of Economic Integration --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Personal Income, Wealth, and Their Distributions --- Monetary economics --- Monetary aggregates --- Monetary base --- Demand for money --- Currencies --- Personal income --- Money --- National accounts --- Money supply --- Income --- United Kingdom

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Zonder onderwerpscode: economie

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Zonder onderwerpscode: financiewezen