In this invaluable book, Martin Fase, a notable academic and practitioner, draws together his most important contributions to monetary economics over two decades, using empirical evidence to assert his unique style in designing monetary policy.
One of the main themes of Professor Fase's work, covered in the first part of the book, is the empirical analysis of the demand for money. For traditional monetary aggregates and Divisia aggregates the author investigates the dynamics, stability and determinants of money demand on a sectoral, national and Europe-wide level. The second part of the book uses empirical evidence to address a variety of monetary issues, including the system approach to money demand, the demand for bank loans, payment patterns and the demand for banknotes and coins. These chapters support the author's assertion that both the aggregate and disaggregate analyses of money demand are necessary for the design of a successful monetary policy in a European Monetary Union.
On Money and Credit in Europe will be of great value to scholars and practitioners of monetary and financial economics, the economics of European integration and money and banking.