U Empirical Evidence on the Recent Behavior and Usefulness of Simple-Sum and Weighted Measures of the Money Stock

@inproceedings{Chrystal2003UEE,
  title={U Empirical Evidence on the Recent Behavior and Usefulness of Simple-Sum and Weighted Measures of the Money Stock},
  author={K. Alec Chrystal and Ronald Macdonald},
  year={2003}
}
nfl I!HE FEDERAL RESERVE BANK of St. Louis has been, for the last three decades or so, at the center of an approach to macroeconomic policy which became universally known as “Monetarism.” Indeed, the very term entered the public domain through an article in the Federal Reserve Bank of St. Louis’ Review by Karl Brunner in 1988. The central tenet of monetarism was that there is a stable demand function for something called “money.’ Policy advice came down to recommending that the monetary… CONTINUE READING

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