Divisia monetary aggregates for Brazil
Autor(a) principal: | |
---|---|
Data de Publicação: | 2000 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Economia Aplicada |
Texto Completo: | https://www.revistas.usp.br/ecoa/article/view/218801 |
Resumo: | Herein we review the methodology for constructing monetary aggregates using Divisia weights. Divisia monetary aggregates (M2, M3, and M4) were then calculated with both monthly and quarterly data for the period Jan. 1980-Aug. 1998 and were found to have a better general performance than the corresponding traditional monetary aggregates constructed by the simple-sum of assets. This was so according to the following criteria: a) a better goodness-of-fit coefficient in a regression between the inflation rate and changes in the monetary aggregate; b) a relationship between these two variables which was in most cases closer to proportionality; c) more stable monetary multipliers; and, finally, d) a higher linear correlation coefficient between income velocity and the interest rate. |
id |
USP-21_96ebd40714a00bce67261ea2cfe36d5f |
---|---|
oai_identifier_str |
oai:revistas.usp.br:article/218801 |
network_acronym_str |
USP-21 |
network_name_str |
Economia Aplicada |
repository_id_str |
|
spelling |
Divisia monetary aggregates for Brazildivisia aggregatesmonetary aggregatesmonetary servicesmonetary stockmoney and pricesmonetary multipliersHerein we review the methodology for constructing monetary aggregates using Divisia weights. Divisia monetary aggregates (M2, M3, and M4) were then calculated with both monthly and quarterly data for the period Jan. 1980-Aug. 1998 and were found to have a better general performance than the corresponding traditional monetary aggregates constructed by the simple-sum of assets. This was so according to the following criteria: a) a better goodness-of-fit coefficient in a regression between the inflation rate and changes in the monetary aggregate; b) a relationship between these two variables which was in most cases closer to proportionality; c) more stable monetary multipliers; and, finally, d) a higher linear correlation coefficient between income velocity and the interest rate.Universidade de São Paulo, FEA-RP/USP2000-06-18info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/21880110.11606/1413-8050/ea218801Economia Aplicada; Vol. 4 Núm. 3 (2000); 413-433Economia Aplicada; Vol. 4 No. 3 (2000); 413-433Economia Aplicada; v. 4 n. 3 (2000); 413-4331980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPenghttps://www.revistas.usp.br/ecoa/article/view/218801/199890Copyright (c) 2000 Economia Aplicadahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessRossi, Jose W. 2023-11-13T16:58:20Zoai:revistas.usp.br:article/218801Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-11-13T16:58:20Economia Aplicada - Universidade de São Paulo (USP)false |
dc.title.none.fl_str_mv |
Divisia monetary aggregates for Brazil |
title |
Divisia monetary aggregates for Brazil |
spellingShingle |
Divisia monetary aggregates for Brazil Rossi, Jose W. divisia aggregates monetary aggregates monetary services monetary stock money and prices monetary multipliers |
title_short |
Divisia monetary aggregates for Brazil |
title_full |
Divisia monetary aggregates for Brazil |
title_fullStr |
Divisia monetary aggregates for Brazil |
title_full_unstemmed |
Divisia monetary aggregates for Brazil |
title_sort |
Divisia monetary aggregates for Brazil |
author |
Rossi, Jose W. |
author_facet |
Rossi, Jose W. |
author_role |
author |
dc.contributor.author.fl_str_mv |
Rossi, Jose W. |
dc.subject.por.fl_str_mv |
divisia aggregates monetary aggregates monetary services monetary stock money and prices monetary multipliers |
topic |
divisia aggregates monetary aggregates monetary services monetary stock money and prices monetary multipliers |
description |
Herein we review the methodology for constructing monetary aggregates using Divisia weights. Divisia monetary aggregates (M2, M3, and M4) were then calculated with both monthly and quarterly data for the period Jan. 1980-Aug. 1998 and were found to have a better general performance than the corresponding traditional monetary aggregates constructed by the simple-sum of assets. This was so according to the following criteria: a) a better goodness-of-fit coefficient in a regression between the inflation rate and changes in the monetary aggregate; b) a relationship between these two variables which was in most cases closer to proportionality; c) more stable monetary multipliers; and, finally, d) a higher linear correlation coefficient between income velocity and the interest rate. |
publishDate |
2000 |
dc.date.none.fl_str_mv |
2000-06-18 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.revistas.usp.br/ecoa/article/view/218801 10.11606/1413-8050/ea218801 |
url |
https://www.revistas.usp.br/ecoa/article/view/218801 |
identifier_str_mv |
10.11606/1413-8050/ea218801 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://www.revistas.usp.br/ecoa/article/view/218801/199890 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2000 Economia Aplicada http://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2000 Economia Aplicada http://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade de São Paulo, FEA-RP/USP |
publisher.none.fl_str_mv |
Universidade de São Paulo, FEA-RP/USP |
dc.source.none.fl_str_mv |
Economia Aplicada; Vol. 4 Núm. 3 (2000); 413-433 Economia Aplicada; Vol. 4 No. 3 (2000); 413-433 Economia Aplicada; v. 4 n. 3 (2000); 413-433 1980-5330 1413-8050 reponame:Economia Aplicada instname:Universidade de São Paulo (USP) instacron:USP |
instname_str |
Universidade de São Paulo (USP) |
instacron_str |
USP |
institution |
USP |
reponame_str |
Economia Aplicada |
collection |
Economia Aplicada |
repository.name.fl_str_mv |
Economia Aplicada - Universidade de São Paulo (USP) |
repository.mail.fl_str_mv |
||revecap@usp.br |
_version_ |
1800221693195583488 |