The Monetary Policy Committee of the Bank of England’s reliance on faulty indicators has led to suboptimal policy decisions and masked what is actually happening in the economy. The introduction of quantitative easing (QE) in 2009 has made the money supply relevant again and made a discussion...

Following the 2008/09 financial crisis renewed attention has been given to the ability of central banks to effectively monitor the quantity of money in circulation. We present a new definition of the money supply called “Austrian money supply” (MA) and apply it to the UK economy. Unlike...

The 2008/09 financial crisis and subsequent recession has created renewed attention to UK monetary aggregates. This discussion paper argues that although measures of the money supply are crucial to understanding the economy, existing approaches are flawed: "Notes and Coin" is too narrow, and M4...