near money

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Related to Near-Money: fiat money

Near money

Assets that are easily convertible into cash, such as money market accounts and bank deposits.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Near Money

A highly liquid asset that may easily be converted to cash. Examples include savings accounts, bonds (especially near their maturities), and money markets. Central banks and statisticians sometimes, but not always, use near money when computing the money supply. See also: M2.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

near money

Assets that can be converted quickly and easily into cash with virtually no loss in value. Examples of near money are savings account balances and Treasury bills.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

near money

any easily saleable (liquid) ASSET that performs the function of MONEY as a STORE OF VALUE but not that of a universally acceptable MEDIUM OF EXCHANGE. CURRENCY (notes and coins) serves as a store of value and, being the most liquid of all assets, is universally accepted as a means of PAYMENT. However, building society deposits, National Savings deposits and Treasury bills are, respectively, less and less readily acceptable in their present form for making payments, and thus function as ‘near money’. See MONEY-SUPPLY DEFINITIONS.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
In other words, money market is the name given to the various firms and institutions which deal in various grades of near-moneys (Shekhar and Shekhar, 1999).
The money market is not one market but it is "a collective name given to the various forms and institutions that deal with the various grades of near-moneys" (Crowther, 1958).
(6) Chetty's work was motivated by the Gurley/Shaw hypothesis and the general lack of agreement in the empiricial findings of Feige (1964) and others about the degree of substitutability between money and near-money assets.
The demand function typically includes the rates of return on one of more near-money assets, plus an income or wealth measure as an explanatory variable.
Things are very different when the unit of account is a fiat unit whose value depends on the interplay of supply and demand for a base money and for the other kinds of money and the near-moneys that are pyramided onto it.
"On Measuring the Nearness of Near-Moneys." American Economic Review, June 1969, 270-81.