How Informative are Preliminary Announcements of the Money Stock in Canada?

Ross Milbourne and Gregor Smith

Working Paper from Economics Department, Queen's University

Abstract: We examine hypotheses about the relationship between provisional estimates and final values of M1, M2, and M3 and their growth rates in Canada, using monthly data and multiple revisions. Preliminary values cannot be viewed as final values plus an error (revision) uncorrelated with these but they are approximately unbiased forecasts of final values. The second difference in short-term interest rates is a leading indicator of revisions in M1 growth rates and revisions exhibit significant seasonality; hence preliminary values are not completely rational forecasts.

Pages: 34 pages
Date: 1988
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: How Informative Are Preliminary Announcements of the Money Stock in Canada? (1989)
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:qed:wpaper:716

Access Statistics for this paper

More papers in Working Paper from Economics Department, Queen's University Contact information at EDIRC.
Bibliographic data for series maintained by Mark Babcock ().