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Comment: The Strange Journey of Monetary Indicators

Published online by Cambridge University Press:  19 October 2009

Extract

I find a great deal in Kaufman's paper with which I am in agreement, and I think that setting out the two approaches, the neutralized variable approach versus the ideal indicator, is very useful. I have nothing to add to what Kaufman has said about the work on neutralized variables, even though I know there are a few people who do not consider this a closed issue.

Type
Discussant
Copyright
Copyright © School of Business Administration, University of Washington 1972

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References

1 Kaufman, p. 1625.

2 Ibid., p. 1625.

3 keran, Michael W., “Selecting a Monetary Indicator — Evidence from the United States and Other Developed Countries,” Review (Federal Reserve Bank of St. Louis, September 1970), pp. 819.Google Scholar

4 See Saving, Thomas R., “Monetary-Policy Targets and Indicators,” Journal of Political Economy (August 1967), p. 446.Google Scholar

5 Andersen, Leonall C. and Jordan, Jerry L., “Monetary and’ Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization,” Review (Federal Reserve Bank of St. Louis, November 1968), p. 22.Google ScholarPubMed

6 Kaufman, p. 1625.

7 Gibson, William E. and Kaufman, George G., “The Sensitivity of Interest Rates to Changes in Money and Income,” Journal of Political Economy 76, No. 3 (May/June 1968), pp. 472478.CrossRefGoogle Scholar