Ralph Setzer works at the Directorate-General Economic and Financial Affairs European Commission.
You can see his IDEAS profile at http://ideas.repec.org/f/pse321.html
Conventional money demand specifications in the euro area have become unstable since 2001. We specify a money demand equation in deviations of individual euro area Member States variables from the euro area average and show that the income elasticity as well as the interest rate semi-elasticity remain stable. The corresponding deep parameters of the utility […]