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  1. Newsgroups: sci.econ
  2. Path: sparky!uunet!math.fu-berlin.de!ira.uka.de!gmd.de!newsserver.jvnc.net!louie!udel!princeton!elan!nfs
  3. From: nfs@elan (Norbert Schlenker)
  4. Subject: Re: Money Supply (Re: WELLLLL! IT'S DAY ONE)
  5. Message-ID: <1993Jan28.141012.4662@Princeton.EDU>
  6. Originator: news@nimaster
  7. Sender: news@Princeton.EDU (USENET News System)
  8. Nntp-Posting-Host: elan.princeton.edu
  9. Organization: Department of Computer Science, Princeton University
  10. References: <1993Jan25.201022.18348@Princeton.EDU> <kbanaian.207.0@bernard.pitzer.claremont.edu> <1993Jan27.195957.14893@Princeton.EDU>
  11. Date: Thu, 28 Jan 1993 14:10:12 GMT
  12. Lines: 25
  13.  
  14. It's always embarrassing to follow up one's own article.
  15.  
  16. In article <1993Jan27.195957.14893@Princeton.EDU> nfs@elan (Norbert Schlenker) writes:
  17. >As for components of M1, though, there's a big difference.  Barron's
  18. >shows:
  19. >                              Travelers       Demand         NOWs &
  20. >   Date        Currency1       checks2       deposits3     SuperNOWs
  21. > --------------------------------------------------------------
  22. -----
  23. > 1991-DEC.       267.3           8.2           289.5         333.2
  24. >... 
  25. > 1992-DEC. p     392.5           8.6           338.9         280.5
  26. >
  27. >See the $100 billion difference in currency circulating in December
  28. >1992?  Note that the Barron's components actually add up to the M1
  29. >figures, and the entire M1 increase is accounted for by the (50%)
  30. >increase in currency.
  31. >
  32. >Does anybody have the real numbers?
  33.  
  34. Having examined the series in back issues of Barron's, I think the
  35. currency figures for Dec 1992 are mistaken (high by $100 billion).
  36. The NOW figures are likely too low by $100 billion.  My apologies.
  37.  
  38. Norbert
  39. nfs@cs.princeton.edu
  40.