Abstract:In response to the perceived instability of the relations between traditional monetary aggregates and nominal aggregate demand a number of nonstandard indicator variables have been developed to enable monetary policy to respond to, and counteract, incipient inflationary pressures before much inflation has developed. While the Federal Reserve Board is believed to pay increasing attention to such indicator variables, it is unclear which ones are perceived as particularly important. In this note, we present a var… Show more
Set email alert for when this publication receives citations?
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.