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Estimating the trend of M3 income velocity underlying the reference value for monetary growth

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Cited by:

  1. Leena Mörttinen & Paolo Poloni & Patrick Sandars & Jukka Vesala, 2005. "Analysing banking sector conditions - how to use macro-prudential indicators," Occasional Paper Series 26, European Central Bank.
  2. di Mauro, Filippo & Baumann, Ursel, 2007. "Globalisation and euro area trade - interactions and challenges," Occasional Paper Series 55, European Central Bank.
  3. Wolswijk, Guido & de Haan, Jakob, 2005. "Government debt management in the euro area - recent theoretical developments and changes in practices," Occasional Paper Series 25, European Central Bank.
  4. Thimann, Christian & Mazzaferro, Francesco & Mehl, Arnaud & Sturm, Michael & Winkler, Adalbert, 2002. "Economic relations with regions neighbouring the euro area in the "euro time zone"," Occasional Paper Series 7, European Central Bank.
  5. Backé, Peter & Thimann, Christian & Arratibel, Olga & Calvo-Gonzalez, Oscar & Mehl, Arnaud & Nerlich, Carolin, 2004. "The acceding countries’ strategies towards ERM II and the adoption of the euro: an analytical review," Occasional Paper Series 10, European Central Bank.
  6. D.M. Nachane & Nishita Raje, 2007. "Financial Liberalisation and Monetary Policy," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 1(1), pages 47-83, March.
  7. Genre, Véronique & Gómez-Salvador, Ramón, 2002. "Labour force developments in the euro area since the 1980s," Occasional Paper Series 4, European Central Bank.
  8. Garcí­a, Juan Angel, 2003. "An introduction to the ECB's survey of professional forecasters," Occasional Paper Series 8, European Central Bank.
  9. Baele, Lieven & Ferrando, Annalisa & Hördahl, Peter & Krylova, Elizaveta & Monnet, Cyril, 2004. "Measuring financial integration in the euro area," Occasional Paper Series 14, European Central Bank.
  10. González, Fernando & Coppens, François & Winkler, Gerhard, 2007. "The performance of credit rating systems in the assessment of collateral used in Eurosystem monetary policy operations," Occasional Paper Series 65, European Central Bank.
  11. Carstensen, Kai, 2004. "Is European Money Demand Still Stable?," Kiel Working Papers 1179, Kiel Institute for the World Economy (IfW Kiel).
  12. Gonzalez, F. & Haas, F. & Johannes, R. & Persson, M. & Toledo, L. & Violi, R. & Zins, C. & Wieland, M., 2004. "Market dynamics associated with credit ratings: a literature review," Financial Stability Review, Banque de France, issue 4, pages 53-76, June.
  13. Michael Graff, 2008. "The Quantity Theory of Money in Historical Perspective," KOF Working papers 08-196, KOF Swiss Economic Institute, ETH Zurich.
  14. Otmar Issing, 2002. "Central bank perspectives on stabilization policy," Economic Review, Federal Reserve Bank of Kansas City, vol. 87(Q IV), pages 15-36.
  15. Dario Cziráky & Max Gillman, 2006. "Money Demand in an EU Accession Country: A VECM Study of Croatia," Bulletin of Economic Research, Wiley Blackwell, vol. 58(2), pages 105-127, April.
  16. Vesala, Jukka & Cabral, Inês & Dierick, Frank, 2002. "Banking integration in the euro area," Occasional Paper Series 6, European Central Bank.
  17. Vesala, Jukka & Poloni, Paolo & Mörttinen, Leena & Sandars, Patrick, 2005. "Analysing banking sector conditions - How to use macro-prudential indicators," Occasional Paper Series 26, European Central Bank.
  18. Henrik Enderlein & Johannes Lindner & Oscar Calvo-Gonzalez & Raymond Ritter, 2005. "The EU budget – how much scope for institutional reform?," Public Economics 0509005, EconWPA.
  19. Picón Aguilar, Carmen & Damia, Violetta, 2006. "Quantitative quality indicators for statistics: an application to euro area balance of payment," Occasional Paper Series 54, European Central Bank.
  20. Ansgar Belke & Robert Czudaj, 2010. "Is Euro Area Money Demand (Still) Stable? Cointegrated VAR Versus Single Equation Techniques," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 56(4), pages 285-315.
  21. Stiegert, Roger & Leiner-Killinger, Nadine & López Pérez, Víctor & Vitale, Giovanni, 2007. "Structural reforms in EMU and the role of monetary policy: a survey of the literature," Occasional Paper Series 66, European Central Bank.
  22. Stefan Gerlach, 2004. "The two pillars of the European Central Bank [‘The demand for M3 in the euro area’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 19(40), pages 390-439.
  23. Turunen, Jarkko & Musso, Alberto & Stocker, Marc & Gómez-Salvador, Ramón, 2006. "Labour productivity developments in the euro area," Occasional Paper Series 53, European Central Bank.
  24. Beyer, Andreas, 2009. "A Stable Model for Euro Area Money Demand: Revisiting the Role of Wealth," Working Paper Series 1111, European Central Bank.
  25. Ansgar Belke & Robert Czudaj, 2010. "Is Euro Area Money Demand (Still) Stable? – Cointegrated VAR versus Single Equation Techniques," Ruhr Economic Papers 0171, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  26. Adalbert Winkler & Roland Beck, 2006. "Macroeconomic and financial stability challenges for acceding and candidate countries," Occasional Paper Series 48, European Central Bank.
  27. Bruggeman, Annick & Donati, Paola & Warne, Anders, 2003. "Is the demand for euro area M3 stable?," Working Paper Series 255, European Central Bank.
  28. repec:bla:germec:v:7:y:2006:i::p:65-86 is not listed on IDEAS
  29. Dorrucci, Ettore & Gavilá, Sergio & Kreye, Antje & Rautava, Jouko & Balcao Reis, Teresa & Ghirga, Maurizio & Levy-Rueff, Guy & González-Mota, Emiliano & Leichtlein, Gudrun & Lagerblom, Angelika & Come, 2006. "The accumulation of foreign reserves," Occasional Paper Series 43, European Central Bank.
  30. Kai Carstensen & Jan Hagen & Oliver Hossfeld & Abelardo Salazar Neaves, 2009. "Money Demand Stability And Inflation Prediction In The Four Largest Emu Countries," Scottish Journal of Political Economy, Scottish Economic Society, vol. 56(1), pages 73-93, February.
  31. Helmut Herwartz & Hans‐Eggert Reimers, 2006. "Long‐Run Links among Money, Prices and Output: Worldwide Evidence," German Economic Review, Verein für Socialpolitik, vol. 7(1), pages 65-86, February.
  32. de Beaufort Wijnholds, Johannes Onno & Søndergaard, Lars, 2007. "Reserve accumulation: objective or by-product?," Occasional Paper Series 73, European Central Bank.
  33. Anderton, Robert & di Mauro, Filippo & Moneta, Fabio, 2004. "Understanding the impact of the external dimension on the euro area: trade, capital flows and other international macroeconomic linkages," Occasional Paper Series 12, European Central Bank.
  34. Marattin, Luigi & Marzo, Massimiliano & Zagaglia, Paolo, 2011. "A welfare perspective on the fiscal–monetary policy mix: The role of alternative fiscal instruments," Journal of Policy Modeling, Elsevier, vol. 33(6), pages 920-952.
  35. Reiner Martin & Moreno Roma & Isabel Vansteenkiste, 2005. "Regulatory reforms in selected EU network industries," Occasional Paper Series 28, European Central Bank.
  36. Bindseil, Ulrich & Papadia, Francesco, 2006. "Credit risk mitigation in central bank operations and its effects on financial markets: the case of the Eurosystem," Occasional Paper Series 49, European Central Bank.
  37. Arratibel, Olga & Heinz, Frigyes Ferdinand & Martin, Reiner & Przybyla, Marcin & Rawdanowicz, Lukasz & Serafini, Roberta & Zumer, Tina, 2007. "Determinants of growth in the central and eastern European EU member states - a production function approach," Occasional Paper Series 61, European Central Bank.
  38. repec:bla:perwir:v:5:y:2004:i:4:p:381-404 is not listed on IDEAS
  39. Hartmann, Philipp & Papaioannou, Elias & Lo Duca, Marco & Heider, Florian, 2007. "The role of financial markets and innovation in productivity and growth in Europe," Occasional Paper Series 72, European Central Bank.
  40. Willman, Alpo & Whelan, Karl & Altissimo, Filippo & Georgiou, Evaggelia & Sastre, Teresa & Valderrama, Maria Teresa & Sterne, Gabriel & Stocker, Marc & Weth, Mark, 2005. "Wealth and asset price effects on economic activity," Occasional Paper Series 29, European Central Bank.
  41. repec:zbw:rwirep:0171 is not listed on IDEAS
  42. Jung, Alexander, 2017. "Forecasting broad money velocity," The North American Journal of Economics and Finance, Elsevier, vol. 42(C), pages 421-432.
  43. Daniela Russo & Terry L. Hart & Chryssa Papathanassiou, 2004. "Governance of securities clearing and settlement systems," Occasional Paper Series 21, European Central Bank.
  44. Winkler, Adalbert & Geis, André & Böwer, Uwe, 2007. "Commodity price fluctuations and their impact on monetary and fiscal policies in Western and Central Africa," Occasional Paper Series 60, European Central Bank.
  45. Gerdesmeier, Dieter & Roffia, Barbara, 2005. "The relevance of real-time data in estimating reaction functions for the euro area," The North American Journal of Economics and Finance, Elsevier, vol. 16(3), pages 293-307, December.
  46. Mr. Zenon Kontolemis, 2002. "Money Demand in the Euro Area: Where Do We Stand (Today)?," IMF Working Papers 2002/185, International Monetary Fund.
  47. Dierick, Frank, 2004. "The supervision of mixed financial services groups in Europe," Occasional Paper Series 20, European Central Bank.
  48. Sánchez Muñoz, Carlos & Israël, Jean-Marc, 2007. "Towards harmonised balance of payments and international investment position statistics - the experience of the European compilers," Occasional Paper Series 67, European Central Bank.
  49. Christian Dreger & Dieter Gerdesmeier & Barbara Roffia, 2019. "Re‐vitalizing money demand in the Euro area. Still valid at the zero‐lower bound," Bulletin of Economic Research, Wiley Blackwell, vol. 71(4), pages 599-615, October.
  50. Giammarioli, Nicola & Nickel, Christiane & Rother, Philipp & Vidal, Jean-Pierre, 2007. "Assessing fiscal soundness: theory and practice," Occasional Paper Series 56, European Central Bank.
  51. Sturm, Michael & Gurtner, François, 2007. "Fiscal policy in Mediterranean countries: developments, structures and implications for monetary policy," Occasional Paper Series 69, European Central Bank.
  52. Winkler, Adalbert & Mazzaferro, Francesco & Nerlich, Carolin & Thimann, Christian, 2004. "Official dollarisation/euroisation: motives, features and policy implications of current cases," Occasional Paper Series 11, European Central Bank.
  53. Sturm, Michael & Siegfried, Nikolaus, 2005. "Regional monetary integration in the member states of the Gulf Cooperation Council," Occasional Paper Series 31, European Central Bank.
  54. Karl Whelan & Filippo Altissimo & Evaggelia Georgiou & Teresa Sastre & Maria Teresa Valderrama & Gabriel Sterne & Marc Stocker & Mark Weth & Alpo Willman, 2005. "Wealth and asset price effects on economic activity," Open Access publications 10197/210, School of Economics, University College Dublin.
  55. Henrik Enderlein & Johannes Lindner & Oscar Calvo-Gonzales & Raymond Ritter, 2006. "The EU Budget: How much Scope for Institutional Reform?," Contributions to Economic Analysis, in: Designing the New European Union, pages 129-159, Emerald Group Publishing Limited.
  56. Maria Gabriella Briotti, 2005. "Economic reactions to public finance consolidation - a survey of the literature," Occasional Paper Series 38, European Central Bank.
  57. Schmiedel, Heiko, 2007. "The economic impact of the Single Euro Payments Area," Occasional Paper Series 71, European Central Bank.
  58. Van Rixtel, Adrian & Garcí­a, Juan Angel, 2007. "Inflation-linked bonds from a Central Bank perspective," Occasional Paper Series 62, European Central Bank.
  59. Dieter Gerdesmeier & Barbara Roffia, 2004. "Empirical Estimates of Reaction Functions for the Euro Area," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 140(I), pages 37-66, March.
  60. Dierick, Frank & Pires, Fatima & Scheicher, Martin & Spitzer, Kai Gereon, 2005. "The New Basel Capital Framework and its implementation in the European Union," Occasional Paper Series 42, European Central Bank.
  61. Westermann, Thomas & Ward-Warmedinger, Melanie & Rother, Philipp & Musso, Alberto & Maddaloni, Angela, 2006. "Macroeconomic implications of demographic developments in the euro area," Occasional Paper Series 51, European Central Bank.
  62. Kenny, Geoff & Ahnert, Henning, 2004. "Quality adjustment of European price statistics and the role for hedonics," Occasional Paper Series 15, European Central Bank.
  63. Russo, Daniela & Rosati, Simonetta & Chan, Diana & Fontan, Florence, 2007. "The securities custody industry," Occasional Paper Series 68, European Central Bank.
  64. Shijaku, Gerti, 2016. "The role of money as an important pillar for monetary policy: the case of Albania," MPRA Paper 79088, University Library of Munich, Germany.
  65. Mehl, Arnaud & Geis, André & Wredenborg, Stefan, 2004. "The international role of the euro: evidence from bonds issued by non-euro area residents," Occasional Paper Series 18, European Central Bank.
  66. Giacomo Sbrana, 2008. "On the use of area-wide models in the Euro-zone," Statistical Methods & Applications, Springer;Società Italiana di Statistica, vol. 17(4), pages 499-518, October.
  67. Russo, Daniela & Hart, Terry L. & Malaguti, Maria Chiara & Papathanassiou, Chryssa, 2004. "Governance of securities clearing and settlement systems," Occasional Paper Series 21, European Central Bank.
  68. Ehrmann, Michael & Smets, Frank & Altissimo, Filippo, 2006. "Inflation persistence and price-setting behaviour in the euro area: a summary of the IPN evidence," Occasional Paper Series 46, European Central Bank.
  69. Paolo PAESANI, 2003. "Will the Monetary Pillar Stay? A Few Lessons from the UK," Economics Working Papers ECO2003/10, European University Institute.
  70. Gerdesmeier, Dieter & Roffia, Barbara, 2004. "Taylor rules for the euro area: the issue of real-time data," Discussion Paper Series 1: Economic Studies 2004,37, Deutsche Bundesbank.
  71. Frank Dierick & Fatima Pires & Martin Scheicher & Kai Gereon Spitzer, 2005. "The New Basel Capital Framework and its implementation in the European Union," Occasional Paper Series 42, European Central Bank.
  72. Annenkov, Anatoli & Madaschi, Christophe, 2005. "Labour productivity in the Nordic EU countries: a comparative overview and explanatory factors 1980-2004," Occasional Paper Series 39, European Central Bank.
  73. Thimann, Christian & Drage, John & Nikitin, Minna & Just, Christian & Pauli, Rolf & Committeri, Marco & Weber, Pierre-François & Fernández de Lis, Santiago & von Stenglin, Stephan & Hollensen, Ole & B, 2005. "Managing financial crises in emerging market economies - experience with the involvement of private sector creditors," Occasional Paper Series 32, European Central Bank.
  74. Schönenberger, Andreas & Schmiedel, Heiko, 2005. "Integration of securities market infrastructure in the euro area," Occasional Paper Series 33, European Central Bank.
  75. Brand, Claus & Reimers, Hans-Eggert & Seitz, Franz, 2003. "Forecasting real GDP: what role for narrow money?," Working Paper Series 254, European Central Bank.
  76. Dieter Nautz & Karsten Ruth, 2008. "Monetary disequilibria and the euro/dollar exchange rate," The European Journal of Finance, Taylor & Francis Journals, vol. 14(8), pages 701-716.
  77. Russo, Daniela & Caviglia, Giacomo & Papathanassiou, Chryssa & Rosati, Simonetta, 2007. "Prudential and oversight requirements for securities settlement," Occasional Paper Series 76, European Central Bank.
  78. André Geis & Arnaud Mehl & Stefan Wredenborg, 2004. "The international role of the euro - evidence from bonds issued by non-euro area residents," Occasional Paper Series 18, European Central Bank.
  79. Maddaloni, Angela & Pain, Darren, 2004. "Corporate "excesses" and financial market dynamics," Occasional Paper Series 17, European Central Bank.
  80. Otmar Issing, 2002. "Monetary policy in a changing economic environment," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 183-205.
  81. Thimann, Christian & Skala, Martin & Wölfinger, Regine, 2007. "The search for Columbus' egg: finding a new formula to determine quotas at the IMF," Occasional Paper Series 70, European Central Bank.
  82. Calza, Alessandro & Sousa, João & Manrique, Marta, 2003. "Aggregate loans to the euro area private sector," Working Paper Series 202, European Central Bank.
  83. Mike Artis & Andreas Beyer, 2004. "Issues in Money Demand: The Case of Europe," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 717-736, November.
  84. Schuknecht, Ludger & Morris, Richard & Ongena, Hedwig, 2006. "The reform and implementation of the Stability and Growth Pact," Occasional Paper Series 47, European Central Bank.
  85. Winkler, Adalbert & Geisler, Klaus-Dieter & del Río, Pedro & Pouvelle, Cyril & Golden, Brian & Vasjukova, Marina & Szalai, Zoltán & Dijkman, Miquel & Gǎlǎţescu, Anca Adriana & Noč, Matjaž & de-Alessi,, 2006. "Macroeconomic and financial stability challenges for acceding and candidate countries," Occasional Paper Series 48, European Central Bank.
  86. Mongelli, Francesco Paolo & Dorrucci, Ettore & Agur, Itai, 2005. "What does European institutional integration tell us about trade integration?," Occasional Paper Series 40, European Central Bank.
  87. Susana Martín Belmonte & Jordi Puig & Mercè Roca & Marta Segura, 2021. "Crisis Mitigation through Cash Assistance to Increase Local Consumption Levels—A Case Study of a Bimonetary System in Barcelona, Spain," JRFM, MDPI, vol. 14(9), pages 1-17, September.
  88. Bindseil, Ulrich & Sotamaa, Kai & Amado, Ricardo & Honings, Noëlle & Chiappa, Gigliola & Boux, Bérénice & Föttinger, Wolfgang & Ledoyen, Pierre & Schwartzlose, Henrik & van der Hoorn, Han & Monar, Fer, 2007. "The use of portfolio credit risk models in central banks," Occasional Paper Series 64, European Central Bank.
  89. Martin, Reiner & Roma, Moreno & Vansteenkiste, Isabel, 2005. "Regulatory reforms in selected EU network industries," Occasional Paper Series 28, European Central Bank.
  90. Gerdesmeier Dieter & Roffia Barbara & Reimers Hans-Eggert, 2020. "Unravelling the Secrets of Inflation in the Euro Area – A Frequency Decomposition Approach," Folia Oeconomica Stetinensia, Sciendo, vol. 20(1), pages 133-162, June.
  91. Gerdesmeier, Dieter & Roffia, Barbara & Reimers, Hans-Eggert, 2018. "Unravelling the secrets of euro area inflation: A frequency decomposition approach," Wismar Discussion Papers 06/2018, Hochschule Wismar, Wismar Business School.
  92. Roma, Moreno & Janger, Jürgen & Gerritsen, Mathijs & Schivardi, Fabiano & O'Brien, Derry & Chauvin, Valérie & Lopez-Garcia, Paloma & Yusupová, Elena & Amador, João & Walch, Erik & van Riet, Ad & Nicol, 2006. "Competition, productivity and prices in the euro area services sector," Occasional Paper Series 44, European Central Bank.
  93. Gerlach, Stefan, 2003. "The ECB's Two Pillars," CEPR Discussion Papers 3689, C.E.P.R. Discussion Papers.
  94. Heimonen, Kari, 2010. "Money and equity returns in the Euro area," Global Finance Journal, Elsevier, vol. 21(2), pages 152-169.
  95. Ms. Sònia Muñoz, 2006. "Suppressed Inflation and Money Demand in Zimbabwe," IMF Working Papers 2006/015, International Monetary Fund.
  96. Heiko Schmiedel & Andreas Schönenberger, 2005. "Integration of securities market infrastructures in the euro area," Occasional Paper Series 33, European Central Bank.
  97. Beck, Roland & Kamps, Annette & Mileva, Elitza, 2007. "Long-term growth prospects for the Russian economy," Occasional Paper Series 58, European Central Bank.
  98. Benalal, Nicholai & Diaz del Hoyo, Juan Luis & Pierluigi, Beatrice & Vidalis, Nick, 2006. "Output growth differentials across the euro area countries: some stylised facts," Occasional Paper Series 45, European Central Bank.
  99. Orlandi, Fabrice & Barontini, Christian & Cassidy, Mark & Trento, Sandro & Walch, Erik & Buitenkamp, Bouke & Wagner, Karin & Reis, Hugo & Herrala, Risto & Sethi, Faisel & Gordo Mora, Esther & Bardakas, 2004. "Sectoral specialisation in the EU: a macroeconomic perspective," Occasional Paper Series 19, European Central Bank.
  100. Lieven Baele & Annalisa Ferrando & Peter Hördahl & Elizaveta Krylova & Cyril Monnet, 2004. "Measuring financial integration in the euro area," Occasional Paper Series 14, European Central Bank.
  101. Christian Thimann & Regine Wölfinger & Thierry Bracke & Rita Bessone Basto & Ole Hollensen & Stephan von Stenglin & Santiago Fernández de Lis & Pierre-François Weber & Marco Committeri & Rolf Pauli & , 2005. "Managing financial crises in emerging market economies - experience with the involvement of private sector creditors," Occasional Paper Series 32, European Central Bank.
  102. Kenny, Geoff & Genre, Véronique & Bowles, Carlos & Friz, Roberta & Meyler, Aidan & Rautanen, Tuomas, 2007. "The ECB survey of professional forecasters (SPF) - A review after eight years' experience," Occasional Paper Series 59, European Central Bank.
  103. Guido Wolswijk & Jakob de Haan, 2005. "Government debt management in the euro area - recent theoretical developments and changes in practices," Occasional Paper Series 25, European Central Bank.
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