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We introduce a Divisia monetary aggregate for the euro area that accounts for the heterogeneity across member countries both, in terms of interest rates and the decomposition of monetary assets. In most of the euro area countries, the difference between the growth rates of the country-specific...
Persistent link: https://www.econbiz.de/10012023395
monthly data on Finland's Consumer Price Index and its components from the period covering the past eight and a half years …
Persistent link: https://www.econbiz.de/10014062757
In this paper, the authors propose a measure of underlying inflation for Canada obtained from estimating a monthly factor model on individual components of the CPI. This measure, labelled the common component of CPI, has intuitive appeal and a number of interesting features. In particular, it is...
Persistent link: https://www.econbiz.de/10010188184
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We develop a monthly output index of the U.S. Transportation sector over 1980:1-2002:4 covering air, rail, water, truck … output index matches very well with the annual transportation output figures produced by the Bureau of Labor Statistics (BLS … synchronized with the growth slowdowns rather than full-fledged recessions of the U.S. economy. The index has led the peaks and …
Persistent link: https://www.econbiz.de/10012706332
economic aggregatio and index number theory and aim to aggregate the money components by considering their transaction service …
Persistent link: https://www.econbiz.de/10010436735
This paper introduces a Divisia monetary aggregate for Germany and explores its information content for the Great Recession. Divisia money and the corresponding simple sum aggregate are highly correlated in normal times but begin to diverge before the crisis. Out of sample forecast analysis and...
Persistent link: https://www.econbiz.de/10010529338
economic downturns because the index fails to account for the reallocation of consumer spending from high- to low-price stores …
Persistent link: https://www.econbiz.de/10013019259