Nonsensical arguments against capital controls Dani Rodrik
Bullying more harmful than sexual harassment on the job, say researchers PhysOrg
MPs back artificial sperm for childless Guardian
Just an FYI...8 Mega Themes for the Future Roger Ehrenberg
Three Pictures from the Labor Market Menzie Chinn, Econbrowser
Whatever happened to inflation targeting? Greg Mankiw
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2 comments:
Money of zero maturity is a measure of the money supply. It is equal to M2 less time deposits, plus all money market funds. It measures the supply of financial assets redeemable at par on demand.
MZM has become one of the preferred measures of money supply because it better represents money readily available within the economy for spending and consumption. This measurement derives its name from its mixture of all the liquid and zero maturity money found within the three "M's."
The essence of MZM is that it encompasses financial assets with zero maturity. Assets included in MZM are redeemable at par on demand. This definition excludes all securities, which are subject to risk of capital loss, and time deposits, which carry penalties for early withdrawal. In short, MZM includes all types of financial instruments that can be easily converted into money without penalty or risk of capital loss.
M2: M1 + all time-related deposits, savings deposits, and non-institutional money-market funds. M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions. A key economic indicator used to forecast inflation.
Current Chairman of the U.S. Federal Reserve, Ben Bernanke, has suggested that over the last 10 to 15 years, many modern central banks have become relatively adept at manipulation of the money supply, leading to a smoother business cycle, with recessions tending to be smaller and less frequent than in earlier decades, a phenomenon he terms "The Great Moderation
It's staged, I tell you, staged!!
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