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MZM: a monetary aggregate for the 1990s?

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Author Info
John B. Carlson
Benjamin D. Keen

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Abstract

A presentation of some tentative evidence that MZM, an alternative money measure comprising all instruments payable at par on demand, has exhibited a fairly stable relationship with nominal GDP and with its own opportunity cost in recent years, suggesting a potential role for policy.

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File URL: http://clevelandfed.org/Research/Review/1996/96-q2-carlson.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1996)
Issue (Month): Q II ()
Pages: 15-23
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Handle: RePEc:fip:fedcer:y:1996:i:qii:p:15-23

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Related research
Keywords: Monetary policy ; Money supply;

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