16  Federal  Reserve  and  Thomson  Financial  1. Annual data. Consumer prices and nominal GDP relate to advanced economies. The government bond index (Merrill Lynch) and the stock market index (MSCI) also take into account coupons and dividends.
So, from a legal perspective, ‘money’ is usually defined with reference to the context in and the objectives for which the concept is being used. 2  CENTRAL BANK MONEY VERSUS COMMERCIAL BANK MONEY  Let us now turn to the instances that issue money, and to the money creation process.