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Where is the Mystery in the Behavior of the Monetary Aggregates?

Rasche, Robert H.

This position paper is divided into three parts. In the first part an analysis is present indicating the extent to which various forces have affected the growth of M1 since last November. (At the time of this writing August data are not yet available. I expect that the analysis can be updated to...

Persistent link: https://www.econbiz.de/10009483014

Monetary Aggregates and Monetary Policy

Rasche, Robert H.

At a quick glance, the behavior of various monetary aggregates in the recent past is quite bewildering. Since the beginning of 1991 (through June, 1992) Ml has grown at an annual rate of 10.5 percent, the adjusted monetary base at an annual rate of 7.8 percent, adjusted reserves at an annual...

Persistent link: https://www.econbiz.de/10009483005

Choosing a Monetary Aggregate: Another Look

Poole, William

The Shadow Open Market Committee has traditionally summarized its monetary-policy advice in a recommended rate of growth of the monetary base. However, since the Shadow Open Market Committee meeting in the spring of 1991, our recommendation has deemphasized the base because rapid growth in...

Persistent link: https://www.econbiz.de/10009483006

Long-Run Monetary Neutrality and Contemporary Policy Analysis

McCallum, Bennett T. - 2004

Arguments are developed concerning a number of topics including long-run monetary neutrality, superneutrality, the natural-rate hypothesis, the quantity theory of money, the equation of exchange, the Fisher equation, and purchasing power parity. These are basic, fundamental topics that all...

Persistent link: https://www.econbiz.de/10009441024

Monetarism and its Application in the Australian Economy

Downs, Linwood C. - 1983

Monetarism is a macroeconomic theory predicated on the belief that a capitalist economy is inherently stable. Therefore … monitered and controlled. The above paragraph is a rough definition of Monetarism. This paper attempts to answer two questions … as concerns Monetarism. First of all is Monetarism a valid economic theory? In other words how well does Monetarist …

Persistent link: https://www.econbiz.de/10009474977

Oops, Another Money Demand Shift

Jordan, Jerry L.

Late in 1982, the growth of the money supply (MI) accelerated sharply while nominal GNP growth declined. The ratio of GNP to MI is refereed to as the "income velocity of money" and the inverse of velocity is the "demand for money." So when income growth slowed while money growth increased, it...

Persistent link: https://www.econbiz.de/10009482984

Money balances, economic activities and selective capital controls in Malaysia

Mad, Che Ani - 2005

This paper reports results of a test of money demand and supply as predicted by recent studies applied to small economies with greater openness to external factors. These results suggest that the short- and long-run money balances are determined by both the interest rate policies as well as the...

Persistent link: https://www.econbiz.de/10009441696

Explaining the demand for money by non-financial corporations in the Euro-Area : a macro and a micro view

Martínez Carrascal, Carmen; Landesberger, Julian von - 2010

This paper analyses euro area non-financial corporations (NFCs) money demand, both from a macro and a microeconomic point of view. At a macro level, money holdings are modelled as a function of real gross added value, the price level, the long-term interest rate on bank lending to non-financial...

Persistent link: https://www.econbiz.de/10012530316

Money in Spain : new historical statistics (1830-1998)

Martín Aceña, Pablo - 2018

Incluye anexos estadísticos ; El propósito de este Documento de Trabajo es presentar una reconstrucción de los principales agregados monetarios para el período comprendido entre 1830, cuando se pusieron en circulación los primeros billetes bancarios modernos, y 1998, el año anterior a la...

Persistent link: https://www.econbiz.de/10012530601

Adaptive Estimation and Prediction of Univariate Vehicular Traffic Condition Series

Guo, Jianhua - 2005

Aimed at providing the anticipatory ability for the proactive traffic control systems, a new adaptive online short-term univariate traffic condition forecasting method is presented in this dissertation by assimilating knowledge from previous research. Using 15-minute traffic flow series as a...

Persistent link: https://www.econbiz.de/10009431160