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Broad and Narrow Divisia Monetary Aggregates for Japan

Kazuhiko Ishida, Koji Nakamura

Open publisher page 6 citations

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. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

About this research paper

What this paper is about

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. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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OpenAlex reports 6 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available 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. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Key concepts: Divisia index, Divisia monetary aggregates index, Economics, Monetary economics, Keynesian economics, Econometrics, Monetary policy, Central bank

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