Economics, Econometrics and Finance
4 years ago

Italian demand for money stabilized despite major financial changes and currency substitution.

RePEc: Research Papers in Economics
Currency substitution and the stability of the Italian demand for money before the entry into the monetary union, 1972 - 1998
Hannah Nielsen, Giuseppe Tullio, Juergen Wolters

Paper Summary

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The article examines how people in Italy used money between 1972 and 1998, a time of big changes in the financial system and monetary policy. The researchers found that by considering these changes and the use of money between Italy and Germany, they could figure out a stable way to predict how much money people in Italy would want to hold.