For example, at a 1988 conference at the Federal Reserve Board, George Moore, Richard Porter, and David Small presented a new set of M2 money demand models based on an "errorcorrection" specification, which allowed for transitory deviations from stable long-run relationships (Moore, Porter, and Small, 1990). One of these models, known as the "conference aggregate" model, remains in use at the Board today.
(slide) Having the pleasure of welcoming all of you here in Frankfurt – Germany’s banking city – I would like to take the opportunity to briefly give you some insights into the German CRE market. Germany has seen a moderate development of CRE prices over the last decade.