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Euro Area Money Demand : Measuring the Opportunity Costs Appropriately

Author/Editor: Joaquim Vieira Ferreira Levy, Alessandro Calza, Dieter Gerdesmeier.

Release Date:November, 2001

The existence of a well-specified and stable relationship between money and prices has long been perceived as a prerequisite for the use of monetary aggregates in the conduct of monetary policy. This more...



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