Download This PaperHow Useful is M2 Today?
FRB Richmond Economic Review, Vol. 78, No. 5, September/October 1992, pp. 12-16
15 Pages Posted: 7 Nov 2012
Date Written: 1992
Abstract
One of the most difficult aspects of formulating monetary policy is assessing the impact of policy actions on the public's dollar spending. Historically, the behavior of M2 has offered considerable information about the impact of monetary policy on dollar spending. It appears likely that M2 will continue to offer useful information to the policymaker.
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