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Weighted Dutch and German Monetary Aggregates: How Do They Perform as Monetary Indicators for The Netherlands

In: Divisia Monetary Aggregates

Author

Listed:
  • Norbert G. J. Janssen
  • Clemens J. M. Kool

Abstract

In the 1970s, the heyday of monetarism, ‘money matters’ gradually became incorporated into mainstream macroeconomics. It was generally recognised that shocks to the money supply formed an important source of business-cycle fluctuations, and that excessive money growth caused inflation in the intermediate run. As a consequence, many central banks switched to a policy of targeting growth rates of monetary aggregates to control inflation. Prime examples are the USA, Switzerland and Germany. Over the years since then, however, most central banks in the industrialised world have again abandoned monetary targeting, although inflation control – or even price stability – remains their dominant policy objective.

Suggested Citation

  • Norbert G. J. Janssen & Clemens J. M. Kool, 2000. "Weighted Dutch and German Monetary Aggregates: How Do They Perform as Monetary Indicators for The Netherlands," Palgrave Macmillan Books, in: Michael T. Belongia & Jane M. Binner (ed.), Divisia Monetary Aggregates, chapter 6, pages 120-137, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28823-2_7
    DOI: 10.1057/9780230288232_7
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    Cited by:

    1. Dahalan, Jauhari & Sharma, Subhash C. & Sylwester, Kevin, 2005. "Divisia monetary aggregates and money demand for Malaysia," Journal of Asian Economics, Elsevier, vol. 15(6), pages 1137-1153, January.

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