Massa monetaria usa, è vero che non la comunicano dal 2006?

[gouf]

Buongiorno.

Ieri parlando con un mio amico e uscito fuori un discorso.
In pratica secondo lui la fed americana non diffonde piu i dati sulla massa monetaria circolante dal 2006.
Mi confermate la cosa e soprattutto come sarebbe possibile una cosa del genere?

[robinbreak]

Non diffonde più l'M3.
Ma M1 ed M2 sono ancora pubblici e consultabili sul loro sito







Come vedi, l'M3 si ferma al 2006

La motivazione ufficiale è stata che tanto non è importante (è vero hanno detto proprio così!):

Discontinuance of M3
On March 23, 2006, the Board of Governors of the Federal Reserve System will cease publication of the M3 monetary aggregate. The Board will also cease publishing the following components: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release.

Measures of large-denomination time deposits will continue to be published by the Board in the Flow of Funds Accounts (Z.1 release) on a quarterly basis and in the H.8 release on a weekly basis (for commercial banks).

M3 does not appear to convey any additional information about economic activity that is not already embodied in M2 and has not played a role in the monetary policy process for many years. Consequently, the Board judged that the costs of collecting the underlying data and publishing M3 outweigh the benefits.

(fonte)

[microalfa]

Solo per quanto riguarda il montante M3.

Per M1 e M2 i dati si trovano nel sito della Federal Reserve:

http://www.federalreserve.gov/Releas...current/h6.htm


Edit: sono arrivato in ritardo.

[soros75]

Originalmente inviato da robinbreak

La motivazione ufficiale è stata che tanto non è importante (è vero hanno detto proprio così!):

confermo!
Guardacaso hanno detto che non é piú importante proprio quando la FED é stata trasformata in una tipografia.
Che strano eh ?

[gouf]

Scusate l'ignoranza ma m1 m2 e m3 in sintesi cosa indicano di preciso?

[robinbreak]

Empirical measures
Money is used in final settlement of a debt and as a ready store of value. Its different functions are associated with different empirical measures of the money supply. Since most modern economic systems are regulated by governments through monetary policy, the supply of money is broken down into types of money based on how much of an effect monetary policy can have on each. Narrow measures include those more directly affected by monetary policy, whereas broader measures are less closely related to monetary-policy actions. Each measure can be classified by placing it along a spectrum between narrow and broad monetary aggregates. The different types of money are typically classified as Ms. The number of Ms usually range from M0 (narrowest) to M3 (broadest) but which Ms are actually used depends on the system. The typical layout for each of the Ms is as follows:

M0: Notes and coins (currency) in circulation and in bank vaults. In some countries, such as the United Kingdom, M0 includes bank reserves, so M0 is referred to as the monetary base, or narrow money.
MB: Equals M0 + reserves which commercial banks hold in their accounts with the central bank (minimum reserves and excess reserves). MB is referred to as the monetary base or total currency. This is the base from which other forms of money (like checking deposits, listed below) are created and is traditionally the most liquid measure of the money supply.
M1: M1 includes funds that are readily accessible for spending. M1 consists of: (1) currency outside Federal Reserve Banks, and the vaults of depository institutions; (2) traveler's checks of nonbank issuers; (3) demand deposits; and (4) other checkable deposits (OCDs), which consist primarily of negotiable order of withdrawal (NOW) accounts at depository institutions and credit union share draft accounts. Bank reserves are not included in M1.
M2: Equals M1 + savings deposits, time deposits less than $100,000 and money market deposit accounts for individuals. M2 represents money and "close substitutes" for money. 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. M2 is a key economic indicator used to forecast inflation.
M3: Equals M2 + large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. M3 is no longer published or revealed to the public by the US central bank. However, it is estimated by the web site Shadow Government Statistics.
MZM: Money with zero maturity. This measure equals M2 plus all money market funds, minus time deposits. It measures the supply of financial assets redeemable at par on demand.




Example
Note: The examples apply when read in sequential order.

M0
Laura has ten US $100 bills, representing $1000 in the M0 supply for the United States. (M0 = $1000, M1 = $1000, M2 = $1000).
Laura burns one of her $100 bills. The US M0, and her personal net worth, just decreased by $100. (M0 = $900, M1 = $900, M2 = $900)

M1
Laura takes the remaining nine bills and deposits them in her checking account at her bank. The bank then calculates its reserve using the minimum reserve percentage given by the FED and loans the extra money. If the minimum reserve is 10%, this means $90 will remain in the bank's reserve, and the remaining $810 can be used by the bank as lending money. The M1 money supply increased by $810 when the loan was made (assume no further loans); money has been created. (M0 = $900, M1 = $1710, M2 = $1710)
Laura writes a check for $400, check number 7771. The total M1 money supply didn't change, it includes the $400 check and the $500 left in her account. (M0 = $900, M1 = $1710, M2 = $1710).
Mandy's check number 7771 is destroyed in the laundry. M1 and her checking account still have $900 because the check is never cashed. (M0 = $900, M1 = $1710, M2 = $1710).
Mandy writes check number 7772 for $100 to her friend Alice, and Alice deposits it into her checking account. M0 still has that $900 in it, Alice's $100 and Laura's $800. (M0 = $900, M1 = $1710, M2 = $1710)
Laura deposits her paycheck for $5,000 in her checking account. That part of M1 money came from her employer's checking account. (M0 = $5900, M1 = $11210, M2 = $11210) [M1 = $1710+$5000+0.9($5000)=$11210].

M2
Laura writes check number 7774 for $1000 and brings it to the bank to start a Money Market account. M0 goes down by $1000, but M2 stayed the same, because M2 includes the Money Market account, but also everything in M1. (M0 = $4900, M1 = $6710, M2 = $6710)

Foreign Exchange
Laura writes check number 7776 for $200 and brings it downtown to a foreign exchange bank teller at Credit Suisse to convert it to British Pounds. On this particular day, the exchange rate is exactly USD $2.00 = GBP £1.00. The bank Credit Suisse takes her $200 check, and gives her two £50 notes (and charges her a dollar for the service fee). Meanwhile, at the Credit Suisse branch office in Hong Kong, a customer named Huang has £100 and wants $200, and the bank does that trade (charging him an extra £.50 for the service fee). US M0 still has the $900, although Huang now has $200 of it. The £50 notes Laura walks off with are part of Britain's M0 money supply that came from Huang.
The next day, Credit Suisse finds they have an excess of GB Pounds and a shortage of US Dollars, determined by adding up all the branch offices' supplies. They sell some of their GBP on the open FX market with Deutsche Bank, which has the opposite problem. The exchange rate stays the same.
The day after, both Credit Suisse and Deutsche Bank find they have too many GBP and not enough USD, along with other traders. To move their inventories, they have to sell GBP at USD $1.999, that is, 1/10 cent less than $2 per pound, and the exchange rate shifts. None of these banks has the power to increase or decrease the British M0 or the American M0; they are independent systems.

[Dunwich]

Originalmente inviato da soros75

confermo!
Guardacaso hanno detto che non é piú importante proprio quando la FED é stata trasformata in una tipografia.
Che strano eh ?

peccato che la produzione "tipografica" della FED sia invece notissima, la trovi alla voce "currency in circulation" sul bilancio settimanale del board.

[max29go]

Un Link utile...

http://www.snb.ch/i/welt/glossary/m.html

Dai grafici emerge un aumento del 20% del'm1 in un anno...il maggior aumento di sempre...credo

[soros75]

Originalmente inviato da Dunwich

peccato che la produzione "tipografica" della FED sia invece notissima, la trovi alla voce "currency in circulation" sul bilancio settimanale del board.

L'M3 non tiene conto del solo operato della tipografia.

[Dunwich]

Originalmente inviato da soros75

L'M3 non tiene conto del solo operato della tipografia.

è esattamente ciò che ho scritto

per la precisione il circolante è meno del 10% della broad money