May 19, 2013 (WAFA) -- The overall Palestinian Monetary Indicator
The poverty line is a monetary indicator
identifying the poor in the society.
James (1989) P-star as a Monetary Indicator
for the UK.
However, looking at the discount rate only, to the exclusion of the monetary indicator
, and measuring the historical path of the discount rate against the benchmark provided by the Taylor rule, one would draw the opposite indication.
(10.) Similar results were obtained using the federal funds rate as the monetary indicator
. For these equations, we also deleted the trade-weighted dollar, but this change did not materially affect the results for the monetary.
The cointegration analysis above suggests that vector-auroregressive equations estimated using first-differences omit valuable information about the long-run equilibrium relationship between output, the price level, M1, the monetary indicator
and the federal funds rate.
Evidence for Japan (Ueda, 1993) favours credit over money as a monetary indicator
for that country.
The evidence that I've seen presented suggests that there is no other monetary indicator
that is going to provide monetary policy with a long-term nominal anchor the way we thought M2 did prior to 1990.
While these results indicate the present inferiority of M1 as a monetary indicator
because of structural changes since the early 1980s, they suggest somewhat mixed conclusions concerning the indicator properties of M1A versus M2.
A more accurate title would be "The Resurrection of M2 as a Monetary Indicator
," or "M2 Lives; Long Live M2." The paper is really about how well the M2 aggregate functions as a monetary indicator
to guide monetary policy.
Broader monetary indicators
, like remittances and currency in circulation, don't exhibit a big difference between their usual averages and pre-poll volumes