Divisia Second Moments

William Barnett, Barry Jones and Travis Nesmith

MPRA Paper from University Library of Munich, Germany

Abstract: W. A. Barnett originated the Divisia monetary aggregates, using Diewert's results on superlative index numbers and Barnett's derivation of the user cost of monetary asset services. The resulting Divisia index can be interpreted as a first moment aggregating over growth rates with expenditure shares serving as probabilities. But Theil showed that there are analogous higher order Divisia moments providing distributional information. In this paper we use the Divisia second moments to investigate distributional information in the monetary aggregate growth rates.

Keywords: Divisia monetary aggregates; Divisia second moments; monetary aggregation; monetary policy; distribution effects (search for similar items in EconPapers)
JEL-codes: C1 E01 E4 E41 E51 E52 G0 (search for similar items in EconPapers)
Date: 2008-06-11
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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https://mpra.ub.uni-muenchen.de/9124/1/MPRA_paper_9124.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9111

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