Divisia monetary aggregates index
Divisia Second Moments: An Application of Stochastic Index Number Theory
... Exact monetary aggregation requires two restrictions on the utility functions of economic ...of monetary assets in the utility function, and aggregation over consumers requires Gorman’s well-known ...
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Measurement Error in Monetary Aggregates: A Markov Switching Factor Approach
... quantity index under this approach measures income effects of changes in relative prices separately from substitution effects, which should be invariant for constant ...sum index, on the other hand, does ...
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Chinese Divisia monetary index and GDP nowcasting
... many monetary and financial decisions are made at a higher ...the Divisia monetary aggregate indexes, Divisia M1 and M2 along with additional information from a large panel of other relevant ...
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Nowcasting nominal gdp with the credit card augmented Divisia monetary aggregates
... and index number theory measure service flows and are based on microeconomic theory, not ...new Divisia monetary aggregates are widely relevant to macroeconomic ...
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Nowcasting nominal gdp with the credit-card augmented Divisia monetary aggregates
... and index number theory measure service flows and are based on microeconomic theory, not ...new Divisia monetary aggregates are widely relevant to macroeconomic ...
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The new CFS Divisia monetary aggregates: design, construction, and data sources
... MSI index sets the own rate to be the minimum of either the 5% regulated limit or the average of the most common interest rates reported on savings deposits in archived issues of the Federal Reserve ...
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Risk adjustment of the credit card augmented Divisia monetary aggregates
... In index number theory, it is known that uncertainty about future variables has no effect on contemporaneous aggregates or index numbers, if preferences are intertemporally ...on index number ...
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Friedman and Divisia Monetary Measures
... correct monetary aggregation, as consistent with the fields of index number and aggregation theory and with Barnett ...official aggregates result from the fact that the third-stage criteria alone ...
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Friedman and Divisia Monetary Measures
... correct monetary aggregation, as consistent with the fields of index number and aggregation theory and with Barnett ...official aggregates result from the fact that the third-stage criteria alone ...
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Financial Sector Reforms, Monetary and Output Uncertainties and the Behavior of Money Demand in Kenya: The Divisia Index Approach
... of monetary aggregates, posing a question on the correctness of the current money measures used by ...sum aggregates were identified with several theoretical and empirical ...constructs ...
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Aggregating Money Demand in Europe with a Divisia Index
... wide monetary aggregate, the question arises whether a simple-sum aggregate of M3 is the most appropriate measure for the quantity of money held in ...broad monetary aggregates, which include ...
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DO MONETARY AGGREGATES BELONG IN A MONETARY MODEL? EVIDENCE FROM THE UK
... the Divisia index for the UK for the period between 1978 and ...the monetary policy equation for the early and recent ...UK monetary policy and suggest the interest rate–money rule as the ...
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Testing long run monetary neutrality in Malaysia: Revisiting divisia money
... viable monetary policy ...of monetary aggregates such as M1, M2 and M3 to evaluate the performance of ...sum monetary aggregates are the most commonly used measure of money in the ...
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“Risky” monetary aggregates for the UK and US
... monetary aggregates and compared them to a simple sum ...Both Divisia and traditional simple-sum aggregates were constructed on the basis of tests for weak separability in a model of the ...
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Measurement Error in Monetary Aggregates: A Markov Switching Factor Approach
... sum monetary aggregates, warned in newspapers and magazines that this ‘monetary explosion’ was bounded to be followed by a contractionary policy by the Federal Reserve, and thereby would lead to ...
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Divisia monetary aggregates for the GCC countries
... naive index in a sense that it rules out the differences in liquidation and interest-yielding properties of all monetary components ...among monetary assets). The simple-sum is a special case of the ...
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The credit card services augmented Divisia monetary aggregates
... the Divisia index (1925,1926) in continuous time will track any aggregator function without ...augmented monetary aggregate, which aggregates jointly over money and credit card ...over ...
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Data Sources for the Credit Card Augmented Divisia Monetary Aggregates
... living index, 𝑒𝑒 𝑗𝑗𝑗𝑗 is credit card interest rate, and 𝑅𝑅 𝑗𝑗 is the yield on the benchmark asset during period ...Price Index (CPI) to represent the true cost of living index, 𝑝𝑝 𝑗𝑗 ∗ , since the ...
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An extended series of divisia monetary aggregates
... of monetary assets, where the monetary service flow per dollar of the asset held can vary from asset to ...appropriate index number to a group of assets is not sufficient, however, to get a correct ...
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Influential Observations in Stochastic Model of Divisia Index Numbers with AR(1) Errors
... The paper is organized as follows. Section 2 introduces the Divisia index number model and the role of the initial observation in estimation of model is discussed. The relevant concepts on influence ...
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