An Alternative Measure of Money
In recent years, deregulation and financial innovation have wreaked havoc on relationships between traditionally defined measures of money - M1 and M2 - and economic activity and interest rates. When these relationships break down, analysts often propose new monetary aggregates.
Suggested citation: “An Alternative Measure of Money,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-07, pp. 05, 07.01.1996.