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Money supply and Greek history monetary statistics: definition, construction, sources and data

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  • Sophia Lazaretou

    (Bank of Greece)

Abstract

This paper attempts to provide, for the first time, a survey of the construction of estimates of the quantity of money in Greece since the inception of the National Bank of Greece in 1842 until the eve of WWII. Specifically, we describe in detail the methods of construction and the sources of data used in building these aggregates. We discuss the data collection procedure and publication practices. The end product is presented in a data appendix.

Suggested Citation

  • Sophia Lazaretou, 2009. "Money supply and Greek history monetary statistics: definition, construction, sources and data," Working Papers 105, Bank of Greece.
    • Handle: RePEc:bog:wpaper:105
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    References listed on IDEAS

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    1. Laidler, David, 1969. "The Definition of Money: Theoretical and Empirical Problems," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(3), pages 508-525, August.
    2. Allan H. Meltzer, 1963. "The Demand for Money: The Evidence from the Time Series," Journal of Political Economy, University of Chicago Press, vol. 71, pages 219-219.
    3. Lazaretou, Sophia, 2005. "The drachma, foreign creditors, and the international monetary system: tales of a currency during the 19th and the early 20th centuries," Explorations in Economic History, Elsevier, vol. 42(2), pages 202-236, April.
    4. Richard G. Anderson & Kenneth A. Kavajecz, 1994. "A historical perspective on the Federal Reserve's monetary aggregates: definition, construction and targeting," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 1-31.
    5. Lucas, Robert E., 1988. "Money demand in the United States: A quantitative review," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 29(1), pages 137-167, January.
    6. Stephen G.Hall & George Hondroyiannis & P.A.V.B. Swamy & George S. Tavlas, 2007. "A Portofolio Balance Approach to Euro-Area Money Demand in a Time-Varying Environment," Working Papers 61, Bank of Greece.
    7. King, Robert G., 1988. "Money demand in the United States: A quantitative review," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 29(1), pages 169-172, January.
    8. Kaufman, George G, 1969. "More on an Empirical Definition of Money," American Economic Review, American Economic Association, vol. 59(1), pages 78-87, March.
    9. Lazaretou Sophia, 1995. "Government Spending, Monetary Policies, and Exchange Rate Regime Switches: The Drachma in the Gold Standard Period," Explorations in Economic History, Elsevier, vol. 32(1), pages 28-50, January.
    10. Fratianni, Michele & Spinelli, Franco, 2001. "Fiscal Dominance and Money Growth in Italy: The Long Record," Explorations in Economic History, Elsevier, vol. 38(2), pages 252-272, April.
    11. Pedro Teles & Ruilin Zhou, 2005. "A stable money demand: Looking for the right monetary aggregate," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 29(Q I), pages 50-63.
    12. David Laidler, 1966. "Some Evidence on the Demand for Money," Journal of Political Economy, University of Chicago Press, vol. 74(1), pages 55-68.
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    Cited by:

    1. Vasilis Droucopoulos & Panagiotis Chronis, 2010. "“Assessing market dominance”: a comment and an extension," Working Papers 109, Bank of Greece.
    2. Leandro Prados De La Escosura, 2016. "Economic freedom in the long run: evidence from OECD countries (1850–2007)," Economic History Review, Economic History Society, vol. 69(2), pages 435-468, May.
    3. Leandro Prados de la Escosura, 2014. "Assessing negative freedom: economic liberty in the long run," Working Papers 14010, Economic History Society.
    4. Sophia Lazaretou, 2011. "Financial crises and financial market regulation: the long record of an ‘emerger’," Working Papers 140, Bank of Greece.

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    More about this item

    Keywords

    money; monetary aggregates; data; sources;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-

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