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Published in:
2000 | OriginalPaper | Chapter
Broad and Narrow Divisia Monetary Aggregates for Japan
Authors : Kazuhiko Ishida, Koji Nakamura
Published in: Divisia Monetary Aggregates
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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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.