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The Canadian Experience with Weighted Monetary Aggregates

In: Divisia Monetary Aggregates

Author

Listed:
  • David Longworth
  • Joseph Atta-Mensah

Abstract

One of the alternative methods for constructing monetary aggregates that has received much attention in the literature is the method proposed by Barnett (1980), which uses statistical index number theory. His approach makes use of aggregation theory to compute indices of financial assets that reflect the total utility, relative to some base period, attributable to the monetary services obtained from these assets.

Suggested Citation

  • David Longworth & Joseph Atta-Mensah, 2000. "The Canadian Experience with Weighted Monetary Aggregates," Palgrave Macmillan Books, in: Michael T. Belongia & Jane M. Binner (ed.), Divisia Monetary Aggregates, chapter 12, pages 265-291, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28823-2_13
    DOI: 10.1057/9780230288232_13
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    Cited by:

    1. David Longworth, 2003. "Money in the Bank (of Canada)," Technical Reports 93, Bank of Canada.
    2. Yu, Qiao & Tsui, Albert K., 2000. "Monetary services and money demand in China," China Economic Review, Elsevier, vol. 11(2), pages 134-148, December.
    3. Richard G. Anderson & Barry E. Jones & Travis D. Nesmith, 1997. "Special report: The monetary services index project of the Federal Reserve Bank of St. Louis: introduction to the St. Louis monetary services index project," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 25-30.
    4. Pierre L. Siklos & Andrew G. Barton, 2001. "Monetary aggregates as indicators of economic activity in Canada: empirical evidence," Canadian Journal of Economics, Canadian Economics Association, vol. 34(1), pages 1-17, February.
    5. Tracy Chan & Ramdane Djoudad & Jackson Loi, 2006. "Regime Shifts in the Indicator Properties of Narrow Money in Canada," Staff Working Papers 06-6, Bank of Canada.
    6. Paul Gilbert & Lise Pichette, 2003. "Dynamic Factor Analysis for Measuring Money," Staff Working Papers 03-21, Bank of Canada.

    More about this item

    Keywords

    Consumer Price Index; User Cost; Monetary Aggregate; Goal Variable; Divisia Index;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

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