J
Juan Luis Vega
Researcher at European Central Bank
Publications - 11
Citations - 463
Juan Luis Vega is an academic researcher from European Central Bank. The author has contributed to research in topics: Broad money & Inflation. The author has an hindex of 8, co-authored 11 publications receiving 458 citations.
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The demand for M3 in the euro area
Günter Coenen,Juan Luis Vega +1 more
TL;DR: In this article, an empirically stable money demand model for M3 in the euro area is constructed starting with a multivariate system, three cointegrating relationships with economic content are found: (i) the spread between the long-term and the short-term nominal interest rates, (ii) the longterm real interest rate, and (iii) a long-run demand for broad money M3.
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The information content of M3 for future inflation
Carmine Trecroci,Juan Luis Vega +1 more
TL;DR: In this article, the information content of broad money M3 for future GDP inflation in the euro area is investigated from a number of perspectives, and the empirical results confirm that a significant positive association exists between the real money gap and future inflation up to five to six quarters ahead.
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The demand for M3 in the euro area
Günter Coenen,Juan Luis Vega +1 more
TL;DR: In this paper, an empirically stable money demand model for M3 in the euro area is constructed based on a multivariate system, and three cointegrating relationships with economic content are found: (i) the spread between the long and short-term nominal interest rates, (ii) the long-term real interest rate, and (iii) a long-run demand for broad money M3.
Journal ArticleDOI
Unemployment and inflation persistence in Spain: Are there Phillips trade-offs?
TL;DR: In this article, the authors analyzed the implications of high persistence in both unemployment and inflation dynamics for inference regarding the size of Phillips trade-offs and sacrifice ratios in the Spanish economy, in response to a demand shock.
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Brexit: current situation and outlook
TL;DR: In this article, the authors take stock of the current situation and outlook for Brexit by drawing together a number of studies produced at the Banco de Espana in connection with the regular monitoring of the process and its potential effects on the Spanish economy.