A new empirically weighted monetary aggregate for the U.S.

This paper utilises an approach to long run modelling proposed by Pesaran, Shin and Smith (2001) to develop an empirically weighted broad monetary aggregate for the U.S., and to demonstrate the advantages of this type of aggregate from a monetary policy perspective. In particular, the paper examines...

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Bibliographic Details
Main Authors: Leigh M. Drake, Terence Mills
Format: Default Preprint
Published: 2002
Subjects:
Other economics not elsewhere classified
Monetary aggregation
Monetary aggregates
Monetary policy
Leading indicators
Economics not elsewhere classified
Online Access:https://hdl.handle.net/2134/368
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https://hdl.handle.net/2134/368

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