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Keywords:Money supply 

Journal Article
Interruption of monetary expansion

Federal Reserve Bulletin , Issue May , Pages 465-473

Journal Article
Accelerating money growth: is M2 telling us something?

A look at the recent acceleration in M2, examining evidence that its velocity has stabilized around a new trend, analyzing the usefulness of money in monetary policy deliberations, and highlighting some of the pitfalls of ignoring money growth.
Economic Commentary , Issue Nov

Journal Article
The borrowed-reserves operating procedures: theory and evidence

Review , Issue Jan , Pages 30-54

Working Paper
Interest rate versus money supply instruments: on the implementation of Markov-perfect optimal monetary policy

Currently there is a growing literature exploring the features of optimal monetary policy in New Keynesian models under both commitment and discretion. With respect to time consistent policy, the literature focuses on solving for allocations. Recently, however, King and Wolman (2004) have examined implementation issues involved under time consistent policy when the monetary authority chooses nominal money balances. Surprisingly, they find that equilibria are no longer unique under a money stock regime. Indeed, there exist multiple steady states. Dotsey and Hornstein find that King and ...
Working Papers , Paper 07-27

Journal Article
Eurodollars and the U.S. monetary supply

Review , Volume 62 , Issue Jun , Pages 2-12

Journal Article
The monetary instrument matters

This paper revisits the debate over the money supply versus the interest rate as the instrument of monetary policy. Using a dynamic stochastic general equilibrium framework, the authors examine the effects of alternative monetary policy rules on inflation persistence, the information content of monetary data, and real variables. They show that inflation persistence and the variability of inflation relative to money growth depend on whether the central bank follows a money growth rule or an interest rate rule. With a money growth rule, inflation is not persistent and the price level is much ...
Review , Volume 87 , Issue Sep , Pages 633-658

Working Paper
Monetary policy and real interest rates: new evidence from the money stock announcements

This paper presents new evidence on how asset prices respond to new information about the money stock. It shows that the information content of money stock announcements and the response of asset prices to new information in the announcements vary with changes in the monetary policy regime, the Federal Reserve operating procedures, and the reserve accounting rules. While previous studies have examined how asset prices respond to the money stock announcements under the interest-rate targeting procedure and the nonborrowed reserve procedure, we have included new evidence from the borrowed ...
Working Papers (Old Series) , Paper 8406

Journal Article
The \"great velocity decline\" of 1982-83: a comparative analysis of M1 and M2

Economic Review , Issue Sum , Pages 56-77

Working Paper
The P-star approach to the link between money and prices

This paper examines several specification errors in the M2-based P* model and develops an M1-based estimate of this model. The apparent statistical significance of M2 is shown to arise from a spurious regression that uses a non-stationary regressor and because the significance test for M2 is biased by including the influence of a lagged dependent variable whose coefficient is not normally distributed. When these problems are addressed, M2 is not statistically significant related to the price level. The M1-based P* model exhibits a significant relationship between M1 and the price level, ...
Working Papers , Paper 1990-008

Journal Article
Monetary and financial developments

Review , Volume 52 , Issue Nov , Pages 2-7



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anonymous 47 items

Anderson, Richard G. 25 items

Judd, John P. 19 items

Gavin, William T. 18 items

Rasche, Robert H. 13 items

Thornton, Daniel L. 12 items

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Money supply 484 items

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