M0: Causes and Consequences
Francis Breedon and
Paul Fisher ()
The Manchester School of Economic & Social Studies, 1996, vol. 64, issue 4, 371-87
This paper addresses some practical issues in understanding the determinants of U.K. M0 (the monetary base) and its informational content. The first three issues relate to the estimation of a demand for M0 equation: explaining the trend in velocity, the choice of scale variable, and the partial response of M0 to changes in interest rates. These issues are explored using annual, quarterly, and monthly data. The final topic is the use of M0 in predicting inflation. The authors' simple tests support the growing literature which suggests that M0 is a relatively good leading indicator of inflation. Copyright 1996 by Blackwell Publishers Ltd and The Victoria University of Manchester
References: Add references at CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Working Paper: M0: Causes and Consequences (1993)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:manch2:v:64:y:1996:i:4:p:371-87
Access Statistics for this article
More articles in The Manchester School of Economic & Social Studies from University of Manchester Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().