Broad and Narrow Divisia Monetary Aggregates for Japan

Kazuhiko Ishida and Koji Nakamura

Chapter 8 in Divisia Monetary Aggregates, 2000, pp 173-199 from Palgrave Macmillan

Abstract: Abstract An application of the Divisia aggregation theory to Japanese monetary data was first made by Ishida (1984). This paper argued for the use of Divisia monetary aggregates in the case of broadly-defined money (M2 + CDs, M3 + CDs), whereas for narrowly defined money (M1) it was found that the aggregation method made no significant difference in the chosen empirical applications.

Keywords: Interest Rate; Monetary Policy; Demand Function; Money Demand; Monetary Aggregate (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28823-2_9

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DOI: 10.1057/9780230288232_9

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