Quasi Balance-Sheet Measures of U.S. Monetary Policy: A Closer Look
Both the Board of Governors and the Federal Reserve Bank of St. Louis calculate monetary base and total reserve series, adjusted for changes in reserve requirement ratios. Many analysts apparently believe there is little measurable difference in these series. This hypothesis is empirically examined in this paper. First, time-series procedures are used to examine similarities and differences in the alternative measures. Then, nominal GNP growth equations provide the basis comparing the four different monetary policy measures as they relate to economic activity. The evidence suggests that significant differences exist between these measures both in their time-series properties and in their relationships to nominal GNP growth. Copyright 1995 by Ohio State University Press.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 27 (1995)
Issue (Month): 1 (February)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 |
When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:27:y:1995:i:1:p:124-39. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.