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Monetary aggregates: a user's guide


  • John R. Walter


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, issue Jan, pages 20-28.
  • Handle: RePEc:fip:fedrer:y:1989:i:jan:p:20-28:n:v.75no.1

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    References listed on IDEAS

    1. 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.
    2. 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.
    3. 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.
    4. Friedman, Benjamin M, 1988. "Monetary Policy without Quantity Variables," American Economic Review, American Economic Association, vol. 78(2), pages 440-445, May.
    5. 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, issue 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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