Michael T Belongia
Biographic Data
| ID | 1061171 |
|---|---|
| NAME | Michael T Belongia |
| GIVEN NAMES | Michael T |
| FAMILY NAME | Belongia |
| SIGNATURE | BELONGIA M T |
| AFFILIATIONS | University of Mississippi |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 9 |
| WORKS AS AUTHOR | 8 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1988 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 2 |
Balbach and Brunner
The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897-1958," by Milton Friedman and David Meiselman (1963), typically is recognized as the original study that used a reduced-form equation to evaluate whether autonomous expenditures or the quantity of money was the dominant influence on aggregate spending. It also provided the foundation for the better-known St. Louis equation that followed. Missing f…
Interest Rates and Money in the Measurement of Monetary Policy
Over the last twenty-five years, a set of influential studies has placed interest rates at the heart of analyses that interpret and evaluate monetary policies. In light of this work, the Federal Reserve's recent policy of "quantitative easing," with its goal of affecting the supply of liquid assets, appears to be a radical break from standard practice. Alternatively, one could posit that the monetary aggregates, when measured properly, never lost…
Opaque rather than transparent
Measurement Matters
Inferences about the effects of money on economic activity may depend importantly on the choice of a monetary index because simple-sum aggregates cannot internalize pure substitution effects. This hypothesis is investigated by replicating five recent studies that have challenged an aspect of the 'conventional wisdom' about the effects of money on aggregate activity. In four of the five cases, the qualitative inference in the original study is rev…
The Business Cycle
Journal Article The Business Cycle: Theories and Evidence Get access The Business Cycle: Theories and Evidence. Edited by (MICHAEL T.) Belongia and (MICHELLE R.) Garfinkel. (Dordrecht and London: Kluwer Academic Publishers, 1992. Pp. xxi + 209. £32.75 hardback, US $55.00 hardback. ISBN 0 7923 9239 6.) Brian Snowdon Brian Snowdon University of Northumbria Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal…
An Admissible Monetary Aggregate for the United Kingdom
This paper evaluates the performance of a monetary aggregate that is constructed from principles of economic and index number theory. Results from tests for weak separability indicate that wholesale deposits should not be aggregated with other U.K. financial assets; they currently are included, however, in broad monetary aggregates published by the Bank of England. Financial asset groupings passing the weak separability tests then were aggregated…
The Changing Empirical Definition of Money
Interest-bearing checkable deposits are examined to test whether they should be included in measures of the U.S. money stock. Both Divisia and traditional simple-sum aggregates are constructed on the basis of tests for weak separability in a model of the demand for financial assets. Using nonparametric demand analysis, we find that several groups of assets are compatible with aggregation theory. We find empirical support for a narrow measure cons…
On the Temporal Stability of the Interest Rate-Weekly Money Relationship
Michael T. Belongia, R. W. Hafer, Richard G. Sheehan, On the Temporal Stability of the Interest Rate-Weekly Money Relationship, The Review of Economics and Statistics, Vol. 70, No. 3 (Aug., 1988), pp. 516-520
Opaque rather than transparent
The Changing Empirical Definition of Money
Interest-bearing checkable deposits are examined to test whether they should be included in measures of the U.S. money stock. Both Divisia and traditional simple-sum aggregates are constructed on the basis of tests for weak separability in a model of the demand for financial assets. Using nonparametric demand analysis, we find that several groups of assets are compatible with aggregation theory. We find empirical support for a narrow measure cons…
Measurement Matters
Inferences about the effects of money on economic activity may depend importantly on the choice of a monetary index because simple-sum aggregates cannot internalize pure substitution effects. This hypothesis is investigated by replicating five recent studies that have challenged an aspect of the 'conventional wisdom' about the effects of money on aggregate activity. In four of the five cases, the qualitative inference in the original study is rev…
On the Temporal Stability of the Interest Rate-Weekly Money Relationship
Michael T. Belongia, R. W. Hafer, Richard G. Sheehan, On the Temporal Stability of the Interest Rate-Weekly Money Relationship, The Review of Economics and Statistics, Vol. 70, No. 3 (Aug., 1988), pp. 516-520
The Changing Empirical Definition of Money
Interest-bearing checkable deposits are examined to test whether they should be included in measures of the U.S. money stock. Both Divisia and traditional simple-sum aggregates are constructed on the basis of tests for weak separability in a model of the demand for financial assets. Using nonparametric demand analysis, we find that several groups of assets are compatible with aggregation theory. We find empirical support for a narrow measure cons…
An Admissible Monetary Aggregate for the United Kingdom
This paper evaluates the performance of a monetary aggregate that is constructed from principles of economic and index number theory. Results from tests for weak separability indicate that wholesale deposits should not be aggregated with other U.K. financial assets; they currently are included, however, in broad monetary aggregates published by the Bank of England. Financial asset groupings passing the weak separability tests then were aggregated…
The Business Cycle
Journal Article The Business Cycle: Theories and Evidence Get access The Business Cycle: Theories and Evidence. Edited by (MICHAEL T.) Belongia and (MICHELLE R.) Garfinkel. (Dordrecht and London: Kluwer Academic Publishers, 1992. Pp. xxi + 209. £32.75 hardback, US $55.00 hardback. ISBN 0 7923 9239 6.) Brian Snowdon Brian Snowdon University of Northumbria Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal…
Measurement Matters
Inferences about the effects of money on economic activity may depend importantly on the choice of a monetary index because simple-sum aggregates cannot internalize pure substitution effects. This hypothesis is investigated by replicating five recent studies that have challenged an aspect of the 'conventional wisdom' about the effects of money on aggregate activity. In four of the five cases, the qualitative inference in the original study is rev…
Opaque rather than transparent
Interest Rates and Money in the Measurement of Monetary Policy
Over the last twenty-five years, a set of influential studies has placed interest rates at the heart of analyses that interpret and evaluate monetary policies. In light of this work, the Federal Reserve's recent policy of "quantitative easing," with its goal of affecting the supply of liquid assets, appears to be a radical break from standard practice. Alternatively, one could posit that the monetary aggregates, when measured properly, never lost…
Balbach and Brunner
The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897-1958," by Milton Friedman and David Meiselman (1963), typically is recognized as the original study that used a reduced-form equation to evaluate whether autonomous expenditures or the quantity of money was the dominant influence on aggregate spending. It also provided the foundation for the better-known St. Louis equation that followed. Missing f…
Economics (8 works) · Monetary Policy and Economic Impact (7 works) · Monetary economics (6 works) · Econometrics (5 works) · Economic theories and models (5 works) · Economic Theory and Policy (5 works) · Computer Science (4 works) · Keynesian economics (4 works) · Monetary policy (4 works) · Divisia index (3 works)