Peru struggling for its monetary stability

On Monetary Stability and Monetary Reform

Monetary Union Its Costs

Stability and Monetary policy

i am very pleased to have the opportunity to discuss this timely and thought-provoking paper. its implications are particularly relevant, more than a year after the onset of the current financial turmoil. in particular, views remain divided on how economic activity is being affected, and how we can best ensure that lessons learned from this period help to strengthen our crisis prevention and ma...

On the Stability of Euro Area Money Demand and its Implications for Monetary Policy

We revisit the usefulness of long-run money demand equations for the European Central Bank. We first conduct a model evaluation exercise by means of a recent time–varying cointegration test. A stable relation for euro area M3 is not rejected by data only when accounting for both a speculative motive, represented by international financial markets, and a precautionary motive, proxied by changes ...

monetary :union: its costs

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