Weighted Monetary Aggregates: A Historical Survey

Abstract: Economic Theory Suggests Many Potentially Important Channels Of Influence For A Variable Called "Money" But Is Generally Silent On What Asset Or Collection Of Assets Might Best Serve As Its Empirical Counterpart. An Accumulating Body Of Research Evidence, However, Points To This Basic Measurement Issue As An Explication For Many Of The Monetary "Puzzles" That Have Appeared In Recent Years