Divisia Monetary Aggregates

JOSEPH ATTA-MENSAH Senior Analyst, Bank of CanadaWILLIAM A. BARNETT is the originator of the Divisia Monetary Aggregates and a Fellow of the American Statistical AssociationK. ALEC CHRYSTAL Professor of Monetary Economics, City University Business School and is presently on leave as Research Adviser at the Bank of EnglandROBERT E. DORSEY Associate Professor of Economics and Finance, University of MississippiLEIGH DRAKE Reader, Economics Department, Loughborough UniversityMARTIN M. G. FASE Deputy Director, Nederlandsche BankROBERT FLURI Deputy Head of Statistics Section, Swiss National BankJEONG HO HAHM Deputy General Manager, Cheongju Branch, Bank of KoreaHEINZ HERMANN Senior Economist, Research Department, Deutsche Bundesbank, Frankfurt am MainKAZUHIKO ISHIDA Bank of JapanNORBERT G. J. JANSSEN Analyst, Bank of England's Monetary Assessment and Strategy DivisionJUN TAE KIM Bank of KoreaCLEMENS J.M. KOOL Professor of Money, Banking and European Financial Markets, University of Maastricht, NetherlandsG.C. LIM Assistant Professor of Economics, University of MelbourneYI LIU Assistant Professor of Economics, University of South AlabamaDAVID LONGWORTH Chief in the Bank of Canada Research DepartmentVANCE L. MARTIN Reader in Economics, University of MelbourneKOJI NAKAMURA Bank of JapanHANS-EGGERT REIMERS Professor, Economics Department, Fachhochschule WismarYEN CHRYSTAL SHIH Central Bank of China, Republic of TaiwanERICH SPOERNDLI Director, Monetary Operations Division, Swiss National BankKARL-HEINZ TOEDTER Senior Economist, Research Department, Deutsche Bundesbank, Frankfurt am Main

The leading researchers from central banks and universities around the world debate issues central to the performance of Divisia monetary aggregates both in theory and in practice. The overall conclusion is that Divisia monetary aggregates outperform their simple sum counterparts in a wide range of applications the world over. The book is the first volume-length study of empirical data and theoretical research on the subject.

Authoritative first book-length study of important money supply measurement issue

List of Figures List of Tables List of Contributors Introductory Comments, Definitions, and Research on Indexes of Monetary Services; M.T.Belongia PART I: NEW RESULTS IN THEORY AND PRACTICE Beyond the Risk-Neutral Utility Function; W.A.Barnett & Y.Liu Neutral Networks with Divisia Money: Better Forecasts of Future Inflation?; R.E.Dorsey PART II: EVIDENCE FROM EUROPEAN ECONOMIES AND THE PLANNED EMU AREA Weighted Monetary Aggregates for the U.K.; L.Drake, K.A.Chrystal & J.M.Binner Weighted Monetary Aggregates for Germany; H.Hermann, H.Reimers & K.Toedter Simple Sum v. Divisia Money in Switzerland: Some Empirical Results ; R.Fluri & E.Spoerndli The Relevance of Weighted Monetary Aggregates in the Netherlands; N.G.J.Janssen & C.J.M.Kool Divisia Aggregates and the Demand for Money in Core EMU; M.M.G.Fase PART III: EVIDENCE FROM THE PACIFIC BASIN Broad and Narrow Divisia Monetary Aggregates for Japan; K.Ishida & K.Nakamura The Signals from Divisia Money in a Rapidly-Growing Economy; J.H.Hahm & J.T.Kim Divisia Monetary Aggregates for Taiwan; Y.C.Shih Weighted Monetary Aggregates: Empirical Evidence for Australia; G.C.Lim & V.L.Martin PART IV: EVIDENCE FROM NORTH AMERICA The Canadian Experience with Weighted Monetary Aggregates; D.Longworth & J.Atta-Mensah Consequences of Money Stock Mismeasurement: Evidence from Three Countries; M.T.Belongia