English, Article edition: IS THE DEMISE OF M2 GREATLY EXAGGERATED? ROBERT D. LAURENT

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Physical Description
  • article
Language
  • English

Edition details

Title
  • IS THE DEMISE OF M2 GREATLY EXAGGERATED?
Author
  • ROBERT D. LAURENT
Physical Description
  • article
Notes
  • The early 1990s in the United States were years of sluggish economic growth alongside a sharply lowered federal funds rate, leading analysts to conclude that monetary policy must have been rendered ineffective by external influences. One previously popular monetary policy indicator not used to analyze the period was real M2, as it was widely considered to have been distorted since the early 1980s. This paper argues that it was a serious mistake to ignore M2 in the early 1990s since it never forecast (relatively or absolutely) better and helps explains this otherwise puzzling period very well. (JEL E32, E51, E52) Copyright 1999 Western Economic Association International.
  • RePEc:bla:coecpo:v:17:y:1999:i:4:p:492-505
Language
  • English
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