Federal Reserve Adjusted Monetary Base and Bank Reserves

Richard A. Anderson's reconstruction incorporates a new measure for retail-deposit sweep programs, treating them as economically equivalent to a reduction in statutory reserve requirements since 1994. The dataset includes revised seasonal adjustment factors that account for the Y2K-related surge in the monetary base and reserves. It provides a revised view of the adjusted monetary base and bank reserves based on original source data from the Federal Reserve Bank of St. Louis.

Use Cases

• Analyzing the impact of retail-deposit sweep programs on effective reserve requirements since 1994.
• Modeling the effect of the Y2K event on seasonal patterns in the monetary base and reserves.
• Studying long-term trends in the adjusted monetary base for macroeconomic research.
• Calibrating monetary policy models with revised reserve requirement magnitude (RAM) data.

Strengths

• Based on original source data from the Federal Reserve Bank of St. Louis, a primary authority.
• Incorporates a specific methodological adjustment for retail-deposit sweep programs beginning in 1994.
• Includes seasonal adjustments for a specific historical event, the Y2K surge.

Limitations

• Key metadata such as row count, column names, specific time range, and last update date are unknown.
• The dataset's availability and exact file format are not specified in the provided sources.

Provenance

Source

Federal Reserve Bank of St. Louis

Collection Method

Reconstruction and revision of published figures using original source data.

Time Range

Includes data from at least 1994 onward, based on the mention of sweep programs starting that year.

Geography

United States