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Monetary aggregates: a user's guide

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  • John R. Walter

Abstract

Movements in the monetary aggregates affect the price level, interest rates, real output, and employment. For that reason they are among the most closely-watched financial statistics. This article provides a practical introduction and guide to the various monetary aggregates.

Suggested Citation

  • John R. Walter, 1989. "Monetary aggregates: a user's guide," Economic Review, Federal Reserve Bank of Richmond, vol. 75(Jan), pages 20-28.
    • Handle: RePEc:fip:fedrer:y:1989:i:jan:p:20-28:n:v.75no.1
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    File URL: https://fraser.stlouisfed.org/files/docs/publications/frbrichreview/rev_frbrich198901.pdf
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    References listed on IDEAS

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    1. James N. Duprey, 1982. "How the Fed defines and measures money," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 6(Spr / Sum).
    2. Thomas D. Simpson, 1980. "The redefined monetary aggregates," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Feb, pages 97-114.
    3. Bernanke, Ben S & Blinder, Alan S, 1988. "Credit, Money, and Aggregate Demand," American Economic Review, American Economic Association, vol. 78(2), pages 435-439, May.
    4. Albert E. Burger, 1979. "Alternative measures of the monetary base," Review, Federal Reserve Bank of St. Louis, vol. 61(Jun), pages 3-8.
    5. Reichenstein, William & Elliott, J. Walter, 1987. "A comparison of models of long-term inflationary expectations," Journal of Monetary Economics, Elsevier, vol. 19(3), pages 405-425, May.
    6. Thomas A. Lawler, 1977. "Seasonal adjustment of the money stock : problems and policy implications," Economic Review, Federal Reserve Bank of Richmond, vol. 63(Nov), pages 19-27.
    7. Friedman, Benjamin M, 1988. "Monetary Policy without Quantity Variables," American Economic Review, American Economic Association, vol. 78(2), pages 440-445, May.
    8. Donald P. Morgan, 1989. "The Federal Reserve's midyear monetary policy report to Congress," Financial Letters, Federal Reserve Bank of Kansas City, issue Aug.
    9. Benjamin M. Friedman, 1988. "Monetary Policy Without Quantity Variables," NBER Working Papers 2552, National Bureau of Economic Research, Inc.
    10. Carl M. Gambs, 1980. "Federal Reserve intermediate targets: money or the monetary base?," Economic Review, Federal Reserve Bank of Kansas City, vol. 65(Jan), pages 3-15.
    11. Alfred Broaddus, 1975. "Aggregating the monetary aggregates : concepts and issues," Economic Review, Federal Reserve Bank of Richmond, vol. 61(Nov).
    12. Alan Greenspan, 1989. "Statement by Alan Greenspan," Journal of Applied Corporate Finance, Morgan Stanley, vol. 2(1), pages 31-34, March.
    13. anonymous, 1971. "Monetary aggregates and money market conditions in open market policy," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Feb, pages 79-104.
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    Cited by:

    1. Lawrence J. Christiano, 1989. "P*: not the inflation forecaster's holy grail," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 13(Fall), pages 3-18.
    2. Khan, Mahmood ul Hasan & Hussain, Fida, 2005. "Monetary aggregates in Pakistan: theoretical and empirical underpinnings," MPRA Paper 31430, University Library of Munich, Germany, revised 2005.
    3. Kevin Ross, 1991. "Contemporaneous Reserve Accounting, M1 Announcements and Exchange Rate Movements," Eastern Economic Journal, Eastern Economic Association, vol. 17(2), pages 177-187, Apr-Jun.

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