IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Does Money Still Matter?

  • Peterson, Willis L.
Registered author(s):

    Money is broadly defined to include M2 plus large denomination time deposits and deposits in savings institutions. Splitting M2+ into two components, M1 and the remainder, MD, each was found to bear a stable relationship to GDP over the 1929-94 period. An economic test of the causality question reveals that it runs from money to economic activity. Lastly, the evidence attests to the short-run non-neutrality of money on unemployment, and to the stabilizing influence of the private sector on the economy.

    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.

    File URL:
    Download Restriction: no

    Paper provided by University of Minnesota, Department of Applied Economics in its series Staff Papers with number 14122.

    in new window

    Date of creation: 1997
    Date of revision:
    Handle: RePEc:ags:umaesp:14122
    Contact details of provider: Postal: 231ClaOff Building, 1994 Buford Avenue, St. Paul, MN 55108-6040
    Phone: (612) 625-1222
    Fax: (612) 625-6245
    Web page:

    More information through EDIRC

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Gordon, Robert J, 1982. "Price Inertia and Policy Ineffectiveness in the United States, 1890-1980," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1087-1117, December.
    2. Robert B. Litterman & Laurence M. Weiss, 1984. "Money, real interest rates, and output: a reinterpretation of postwar U.S. data," Staff Report 89, Federal Reserve Bank of Minneapolis.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ags:umaesp:14122. 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: (AgEcon Search)

    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.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.