Abstract
The analysis of the previous chapter leads to the conclusion that it is useful to decompose the money supply into two elements:
-
(a)
the monetary base (= N + Bd), which is to be treated as a multiplicand
-
(b)
a ‘multiplier’ (which we denote by λ)
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*M. J. Artis and M. K. Lewis, Monetary Control in the United Kingdom (Philip Allan, 1981) ch. 4.
Bank of England, ‘DCE and the Money Supply’, Bank of England Quarterly Bulletin (March 1977).
Bank of England, ‘External and Foreign Currency Flows and the Money Supply’, Bank of England Quarterly Bulletin (December 1977).
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Bank of England, ‘Methods of Monetary Control’, Bank of England Quarterly Bulletin (December 1980).
Bank of England, ‘Monetary Control: the Next Steps’, Bank of England Quarterly Bulletin (March 1981).
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*S. G. B. Henry et al., ‘Money and the PSBR’, NIESR Review, no. 94 (November 1980).
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Lord Kaldor, Memorandum on Monetary Policy, (response to a questionnaire), Treasury and Civil Service Committee, Memoranda on Monetary Policy (HMSO, 1979–80).
M. Friedman, in ibid.
D. W. Laidler, in ibid.
Bank of England, in ibid.
Board of Governors, US Federal Reserve System, in ibid.
Midland Bank, Annual Monetary Surveys, in Midland Bank Review (Summer issues).
D. Savage, ‘Some Issues of Monetary Policy’, NIESR Review no. 91 (February 1980).
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© 1983 D. C. Rowan
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Rowan, D.C. (1983). More About the Money Supply: The Formation Table Approach. In: Output, Inflation and Growth. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06800-5_27
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DOI: https://doi.org/10.1007/978-1-349-06800-5_27
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