Monetary Policy Efficiency in the Eurozone: Some Empirical Evidence of Money Demand Stability and Endogeneity

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F10%3A00157947" target="_blank" >RIV/62156489:43110/10:00157947 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Monetary Policy Efficiency in the Eurozone: Some Empirical Evidence of Money Demand Stability and Endogeneity
Original language description
The primary target of most central banks in developed economies is to maintain price stability. When there is no threat to the fulfilment of the primary target, the central bank focuses on its secondary target which is defined as support of a sustainableeconomic growth and full employment. Even though, a substantial part of the discussions regarding the targets of the central banks focus on price stability, the real target is to support a sustainable economic growth, especially to stabilize the fluctuation in the economic activity. This paper focuses on the current problems of monetary policy implementation in the Eurozone. Firstly, the author focus on the money demand function estimation and its stability. Another problem lies in the Postkeynesians'assumptions of money endogeneity. Although central banks may have certain control over the money supply, they cannot fix the stock of money in a country. Different trends in monetary aggregates fluctuation contribute to reject the money e
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Publication year
2010
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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