Weighted Monetary Aggregates: An Empirical Approach.

This paper falls under the literature on weighted monetary aggregates that seeks to relax the assumption of perfect substitutability of assets implicit in the use of traditional monetary aggregates. Specifically, using the methodology recently proposed by Feldstein and Stock, an estimation is made of those weights which, when applied to the broad aggregate components result in liquidity growth that is a stable leading indicator of nominal expenditure.

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Year of publication:	1996
Authors:	Alonso, Francisco ; Pagés, Jorge Martínez ; Jurado, María Pérez
Institutions:	Banco de España
Subject:	MONEY \| MONETARY POLICY \| CURRENCIES \| LIQUIDITY

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Series:	Banco de España Working Papers.
Type of publication:	Book / Working Paper
Notes:	34 pages
Classification:	E40 - Money and Interest Rates. General ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General ; E51 - Money Supply; Credit; Money Multipliers ; E59 - Monetary Policy, Central Banking and the Supply of Money and Credit. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005155287