Where simple sum and Divisia monetary aggregates part: illustrations and evidence for the United States

Empirical studies of money continue to use the Federal Reserve's official simple sum indexes, apparently in the belief that their behavior differs little from patterns exhibited by superlative indexes of money. This paper illustrates specific periods when this assumption is refuted and offers explanations for why simple sum and superlative indexes of money are likely to move differently at economic turning points.

MoreLess

Year of publication:	2005-03
Authors:	Belongia, Michael
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Divisia monetary aggregates \| index number problems

More details

Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E51 - Money Supply; Credit; Money Multipliers ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008514890