More Money: Understanding Recent Changes in the Monetary Base (ICPSR 25061)
Version Date: Mar 11, 2009 View help for published
Principal Investigator(s): View help for Principal Investigator(s)
William T. Gavin, Federal Reserve Bank of St. Louis
https://doi.org/10.3886/ICPSR25061.v1
Version V1
Summary View help for Summary
The financial crisis that began in the summer of 2007 took a turn for the worse in September 2008. Until then, Federal Reserve actions taken to improve the functioning financial markets did not affect the monetary base. The unusual lending and purchase of private debt was offset by the sale of United States Treasury securities so that the total size of the balance sheet of the Federal Reserve remained relatively unchanged. In September, however, the Federal Reserve stopped selling securities as it made massive purchases of private debt and issued hundreds of billions of dollars in short-term loans. The result was a doubling of the size of the monetary base in the final four months of 2008. This article discusses the details of the programs that the Federal Reserve has initiated since the crisis began, shows which programs have grown as the monetary base grew, and discusses some factors that will determine whether this rapid increase in the monetary base will lead to rapid inflation.
Citation View help for Citation
Export Citation:
Funding View help for Funding
Subject Terms View help for Subject Terms
Geographic Coverage View help for Geographic Coverage
Distributor(s) View help for Distributor(s)
Data Collection Notes View help for Data Collection Notes
-
The zipped package contains a Microsoft Excel file, which includes the data, figures, and tables used in the publication.
-
These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator if further information is desired.
Original Release Date View help for Original Release Date
2009-03-11
Version History View help for Version History
- Gavin, William T. More Money: Understanding Recent Changes in the Monetary Base . ICPSR25061-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2009-03-11. http://doi.org/10.3886/ICPSR25061.v1
Notes
These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.
The public-use data files in this collection are available for access by the general public. Access does not require affiliation with an ICPSR member institution.