M1 Money Stock - Not Seas Adj
Why Use This Data Source In Your Models?
M1 is a narrow measure of the money supply that includes physical currency, demand deposits, traveler’s checks, and other checkable deposits. This is indicative of income and assets in the US.
M1 Money Stock - Not Seas Adj
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Suggested Treatment:
Grain Transformation:
Source:
Board of Governors of Fed Reserve System
Release:
Money Stock Measures
Units:
Billions of Dollars, Not Seasonally Adjusted
Frequency:
Weekly, ending Monday
Available Through:
10/06/2024
Suggested Treatment:
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.
Grain Transformation:
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Auto Correlation Analysis:
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
Trend Analysis:
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 1.52 p-value = 0.01 indicates that the data is not stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.61 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 1.29 indicates the data are substantially skewed.
Hartigan's dip test score of 0.08 with a p-value of 0.00 inidcates the data is multimodal
Statistics (Pearson P/ df, lower => more normal)
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal Impact
Seasonal and Trend Decompostion
Citation:
Board of Governors of the Federal Reserve System (US), M1 Money Stock [WM1NS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/WM1NS, December 19, 2019.
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