TITLE

Turnover Statistics and Federal Government Balances in Money Supply Targets

AUTHOR(S)
Kerr, Peter M.
PUB. DATE
October 1985
SOURCE
Southern Economic Journal;Oct85, Vol. 52 Issue 2, p344
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This study began with the question, "Can we identify a particular conception of 'money' with sufficient precision to allow its use as a proxy for economic performance?" The results of this study suggest that a measure of the monetary flow may be a better proxy than the monetary stocks which have received more attention. As mentioned before, two criteria are usually cited for the measure of a "best" monetary aggregate: (1) it must bear a close relationship to GNP; and (2) it must be controllable. In considering the linkage from the Federal Reserve's monetary tools to the ultimate goal of monetary policy, GNP in this case, Bryant points out that "the two criteria point in opposite directions [3, 82]" and goes on to argue that since.
ACCESSION #
4626045

 

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