Monetary aggregates as indicators of economic activity in Canada: empirical evidence

Pierre Siklos and Andrew G. Barton

Canadian Journal of Economics, 2001, vol. 34, issue 1, 1-17

Abstract: Empirical evidence linking monetary aggregates to variables such as inflation and economic growth has weakened over the past two decades. In this study we re-examine these relationships by creating composite monetary aggregates that switch among existing monetary aggregates, using quarterly data over the sample 1971-99. Overall, composite monetary aggregates appear to be useful in explaining or forecasting short-run movements in GDP growth and inflation. Also, the most successful composite monetary aggregates produce switch dates that overlap with the introduction of financial innovations. These subsequently prompted the Bank of Canada to revise or introduce new monetary aggregates.

JEL-codes: C52 C53 E51 E52 (search for similar items in EconPapers)
Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

Downloads: (external link)
https://links.jstor.org/sici?sici=0008-4085%282001 ... AAIOE%3E2.0.CO%3B2-F (text/html)
only available to JSTOR subscribers

Related works:
Journal Article: Monetary aggregates as indicators of economic activity in Canada: empirical evidence (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cje:issued:v:34:y:2001:i:1:p:1-17

Ordering information: This journal article can be ordered from
https://www.economic ... ionen/membership.php

Access Statistics for this article

Canadian Journal of Economics is currently edited by Zhiqi Chen

More articles in Canadian Journal of Economics from Canadian Economics Association Canadian Economics Association Prof. Werrner Antweiler, Treasurer UBC Sauder School of Business 2053 Main Mall Vancouver, BC, V6T 1Z2. Contact information at EDIRC.
Bibliographic data for series maintained by Prof. Werner Antweiler ().