Weekly money supply forecasts: effects of the October 1979 change in monetary control procedures

Money supply ; Monetary policy

Money, debt and economic activity

Economic conditions - United States ; Economic indicators

The FOMC in 1983-84: setting policy in an uncertain world

Federal Open Market Committee

Selecting a monetary indicator: a test of the new monetary aggregates

Monetary theory ; Money supply

The impact of energy prices and money growth on five industrial countries

Petroleum industry and trade ; Demand for money

Examining the recent behavior of inflation

Inflation (Finance) ; Demand for money

Monetary stabilization policy: evidence from money demand forecasts

Monetary policy ; Demand for money

Education, Income, And Social Behavior Across Missouri

This study investigates the relationship between education and several economic and social outcomes. On the economic side we consider the link between education and income. We also look at how education is related to health choices and social cohesion. Our basic question is: “What is the relationship between educational decisions made in the past and economic and social outcomes today?” Answers to this question reflect not only personal educational choices, but also shed light on the policy issue of why it is important to improve educational attainment

The rise and fall of a policy rule: monetarism at the St. Louis Fed, 1968-1986

From the 1960s to the 1980s, the Federal Reserve Bank of St. Louis played an important and highly visible role in the development and advocacy of stabilization policy based on the targeting of monetary aggregates. Research conducted at the St. Louis Bank extended earlier monetarist analysis that had focused on the role of money in explaining economic activity in the long run. Their success in finding apparently robust, stable relationships in both long- and short-run data led monetarists to apply long-run propositions to short-run policy questions, effectively competing with alternative views of the time. When the short-run correlation between money and economic activity went astray in the early 1980s, however, the efficacy of the monetarist rule and appeals for targeting monetary aggregates to achieve economic stabilization quickly lost credibility. This article traces the evolution of monetary policy research at the Federal Reserve Bank of St. Louis as it moved from the identification of long-run relationships between money and economic activity toward short-run policy analysis. The authors show how monetarists were lulled into advocating a short-run stabilization policy and argue that this experience councils against overconfidence in our ability to identify infallible rules for conducting short-run stabilization policy in general.Federal Reserve Bank of St. Louis ; Research and development