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On the optimum quantity of money
It is pretty well established within Austrian economics that the optimum quantity of money is whatever level is established at any given time. The logical implication of this claim is that any amount
This working paper is the first draft of an overview and commentary on the papers to appear in a Macroeconomic Dynamics Special Issue on Measurement with Theory, which is part of a larger initiative to promote "measurement with theory" in economics.
New Indices of Money Supply and the Flexible Laurent Demand System
The article begins by surveying the existing results on the new Divisia monetary aggregates. Charts display the differences in behavior between the Divisia aggregates and the Federal Reserve's
The New CFS Divisia Monetary Aggregates: Design, Construction, and Data Sources
The Center for Financial Stability (CFS) has initiated a new Divisia monetary aggregates database, maintained within the CFS program called Advances in Monetary and Financial Measurement (AMFM). The