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Multilateral Divisia Monetary Aggregates for the Euro Area

Neepa Gaekwad and William Barnett
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Neepa Gaekwad: Department of Economics, State University of New York, Fredonia, NY 14063, USA

No 202416, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: In light of the "two-pillar strategy" of the European Central Bank, good measures of aggregated money across countries in the Euro area are policy relevant. The objective of this paper is to focus on the multilateral Divisia monetary aggregates for the Euro area. Based on theory developed in Barnett (2007), this paper produced the multilateral Divisia monetary aggregates for the economic union of all the 19 Euro area countries, EMU-19, (and the Divisia monetary aggregates for the individual 19 Euro area countries), which is a theoretically consistent measure of monetary services for the Euro area monetary union. The multilateral Divisia monetary aggregate indices for EMU-19 is found to provide a better signal of recession, when compared to the corresponding simple sum monetary aggregates.

Date: 2024-11
New Economics Papers: this item is included in nep-ban, nep-cba, nep-eec, nep-inv and nep-mon
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Related works:
Journal Article: Multilateral Divisia monetary aggregates for the Euro area (2024) Downloads
Working Paper: Multilateral Divisia Monetary Aggregates for the Euro Area (2021) Downloads
Working Paper: Multilateral Divisia monetary aggregates for the Euro Area (2021) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:kan:wpaper:202416

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