On the recent divergence between measures of the money supply in the UK

Bruce A Rayton; K Pavlyk

doi:10.1016/j.econlet.2010.04.033

On the recent divergence between measures of the money supply in the UK

Bruce A Rayton, K Pavlyk

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Abstract

This paper presents evidence that the traditional high correlation between simple sum and Divisia monetary aggregates in the United Kingdom has broken down during the economic crisis. This divergence, coupled with the differential diagnostic values of these measures of money in the past, means that current debates about the appropriate stance of monetary policy should first consider what they regard as an appropriate measure of the money supply.

Original language	English
Pages (from-to)	159-162
Number of pages	4
Journal	Economics Letters
Volume	108
Issue number	2
DOIs	https://doi.org/10.1016/j.econlet.2010.04.033
Publication status	Published - Aug 2010

Keywords

simple sum method
monetary aggregates
divisia
measurement

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On_the_recent_divergence_between_measures_of_the_money_supply_in_the_UK_2010_Economics_Letters_Submitted manuscript, 281 KB

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On the recent divergence between measures of the money supply in the UK

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Keywords

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