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This entry on monetary aggregation will appear under that title in The New Palgrave Dictionary of Economics, 2nd edition, edited by Steven Durlauf and Lawrence Blume. The entry provides an up-to-date overview of state-of-the-art research on monetary aggregation and index number theory, from its origins in 1980 to the current time.
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This brief essay is a working draft of an article in preparation for the forthcoming International Encyclopedia of the Social Sciences, 2nd ed., examining the role of the monetary base in monetary economics and monetary policymaking. Comments are welcome.
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Monetary Aggregates and Monetary Policy
2002Recently, there has been renewed interest in the identification of monetary policy disturbances. This involves a search for a variable (or combination of variables) to appropriately measure the stance — the looseness or tightness — of monetary policy. Over the years many variables have been used for this purpose.
Panos Afxentiou, Apostolos Serletis
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The Monetary History and Monetary Statistics
2019The first two books by Friedman and Schwartz—A Monetary History of the United States (1963), and Monetary Statistics of the United States (1970)—are considered. It is argued that they are both extraordinary works of scholarship, and the first in particular, full of important ideas, as well as some highly debatable ones.
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The introduction of banks that issue money and supply balances and pay out their profis as dividends is the natural modification of the model of general competitive equilibrium that encompasses monetary economies with an operative transactions technology.
DREZE, Jacques, POLEMARCHAKIS, Heracles
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Monetary Rules and Monetary Reform
1977For much of the fifteen years, the central concern in international finance has been monetary reform. Numerous proposals were advanced for the production of new international reserve assets and for changes in exchange market arrangements, especially in the mid-1960s.
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Monetary management in a monetary union
European Economic Review, 1991Abstract The design and implementation of monetary policy in the EMU raises a number of difficult conceptual issues, though less complex than those of the transition. The Delors Report (1989) addressed three issues, in particular: (1) the appropriate mandate for the European system of Central Banks (ESCB): (2) the relationship of the ESCB to national
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Journal of the Staple Inn Actuarial Society, 1953
The proper functioning of a present-day economic system is dependent upon money and prices. This is particularly the case when a large part of the economy is based on private enterprise.For many years economic text-books have stated the three functions of money to be (1) a means of payment, (2) a store of value and (3) a unit of account.
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The proper functioning of a present-day economic system is dependent upon money and prices. This is particularly the case when a large part of the economy is based on private enterprise.For many years economic text-books have stated the three functions of money to be (1) a means of payment, (2) a store of value and (3) a unit of account.
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The first part of the paper surveys the discussion of monetary equilibrium by Wicksell, Lindahl, Myrdal, Ohlin and Palander. In the second part a number of analytical aspects of monetary equilibrium are discussed: The formulation of the first equilibrium condition in terms of prices instead of in terms of quantities; The interpretation of the second ...
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Monetary Surveys and Monetary Analysis
The Quarterly Journal of Economics, 1958I. Introduction, 98. — II. The theoretical background of monetary surveys, 99. — III. Money supply analysis and monetary financing in the open economy, 102. — IV. Inflationary and deflationary impulses and reactions, 105. — V. The problem of sectoring, 108. — VI. A simple model of monetary survey, 109. — VII.
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