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The multiplier approach to the money supply process: a precautionary note

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  • Michelle R. Garfinkel
  • Daniel L. Thornton

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  • Michelle R. Garfinkel & Daniel L. Thornton, 1991. "The multiplier approach to the money supply process: a precautionary note," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 47-64.
    • Handle: RePEc:fip:fedlrv:y:1991:i:jul:p:47-64
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    References listed on IDEAS

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    1. Belongia, Michael T & Chalfant, James A, 1989. "The Changing Empirical Definition of Money: Some Estimates from a Model of the Demand for Money Substitutes," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 387-397, April.
    2. Philip Cagan, 1958. "The Demand for Currency Relative to Total Money Supply," NBER Chapters, in: The Demand for Currency Relative to Total Money Supply, pages 1-37, National Bureau of Economic Research, Inc.
    3. Dotsey, Michael, 1988. "The Demand for Currency in the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(1), pages 22-40, February.
    4. Charles I. Plosser, 1989. "Money and business cycles: a real business cycle interpretation," Proceedings, Federal Reserve Bank of St. Louis.
    5. Rik Hafer & Scott E. Hein & Clemens J. M. Kool, 1983. "Forecasting the money multiplier: implications for money stock control and economic activity," Review, Federal Reserve Bank of St. Louis, vol. 65(Oct), pages 22-33.
    6. Daniel L. Thornton, 1982. "Simple analytics of the money supply process and monetary control," Review, Federal Reserve Bank of St. Louis, vol. 64(Oct), pages 22-39.
    7. Johannes, James M. & Rasche, Robert H., 1979. "Predicting the money multiplier," Journal of Monetary Economics, Elsevier, vol. 5(3), pages 301-325, July.
    8. Anatol Balbach, 1981. "How controllable is money growth," Review, Federal Reserve Bank of St. Louis, vol. 63(Apr), pages 3-12.
    9. Karl Brunner & Allan H. Meltzer, 1964. "Some Further Investigations Of Demand And Supply Functions For Money," Journal of Finance, American Finance Association, vol. 19(2), pages 240-283, May.
    10. Hess, Alan C, 1971. "An Explanation of Short-Run Fluctuations in the Ratio of Currency to Demand Deposits," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 3(3), pages 666-679, August.
    11. John A. Tatom, 1980. "Issues in measuring an adjusted monetary base," Review, Federal Reserve Bank of St. Louis, vol. 62(Dec), pages 11-29.
    12. Kenneth C. Carraro & Daniel L. Thornton, 1986. "The cost of checkable deposits in the United States," Review, Federal Reserve Bank of St. Louis, issue Apr, pages 19-27.
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    Cited by:

    1. Prakash Kumar Shrestha Ph.D., 2013. "An Empirical Analysis of Money Supply Process in Nepal," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 25(2), pages 17-42, October.
    2. Rik Hafer & Joseph H. Haslag & Scott E. Hein, 1994. "Monetary policy and recent business-cycle experience," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q III, pages 14-28.
    3. Gabriel Di Bella & Mr. David Hauner, 2005. "How Useful is Monetary Econometrics in Low-Income Countries? T+L3104he Case of Money Demand and the Multipliers in Rwanda," IMF Working Papers 2005/178, International Monetary Fund.
    4. Jafar HAGHIGHAT, 2011. "How Much Control Dose Central Bank of Iran over Money Supply?," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(7), pages 1-29, December.
    5. Michael T. Belongia, 1992. "Selecting an intermediate target variable for monetary policy when the goal is price stability," Working Papers 1992-008, Federal Reserve Bank of St. Louis.
    6. Jagjit S. Chadha & Luisa Corrado & Jack Meaning & Tobias Schuler, 2020. "Bank reserves and broad money in the global financial crisis: a quantitative evaluation," National Institute of Economic and Social Research (NIESR) Discussion Papers 519, National Institute of Economic and Social Research.
    7. Prakash Kumar Shrestha, Ph.D., 2013. "An Empirical Analysis of Money Supply Process in Nepal," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 25(2), pages 17-42, October.
    8. Gauger, Jean, 1998. "Economic Impacts on the Money Supply Process," Journal of Macroeconomics, Elsevier, vol. 20(3), pages 553-577, July.
    9. Khurrum S. Mughal & Friedrich G. Schneider & Faheem Aslam & Alishba Tahir, 2021. "Money Multiplier Bias Due to Informal Sector: An Extension of the Existing Money Multiplier," South Asian Journal of Macroeconomics and Public Finance, , vol. 10(2), pages 139-157, December.
    10. Gulbin Sahinbeyoglu, 1996. "The Stability of Money Multiplier : A Test for Cointregration," Discussion Papers 9603, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    11. Seghezza, Elena & Morelli, Pierluigi, 2020. "Why the money multiplier has remained persistently so low in the post-crisis United States?," Economic Modelling, Elsevier, vol. 92(C), pages 309-317.
    12. Mitusch, Kay & Nautz, Dieter, 1998. "Banks' supply of loans: When future monetary policy is uncertain," SFB 373 Discussion Papers 1998,30, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.

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