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


Reference:

Rayton, B. A. and Pavlyk, K., 2010. On the recent divergence between measures of the money supply in the UK. Economics Letters, 108 (2), pp. 159-162.

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    Official URL:

    http://dx.doi.org/10.1016/j.econlet.2010.04.033

    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.

    Details

    Item Type Articles
    CreatorsRayton, B. A.and Pavlyk, K.
    DOI10.1016/j.econlet.2010.04.033
    Uncontrolled Keywordssimple sum method, monetary aggregates, divisia, measurement
    DepartmentsSchool of Management
    RefereedYes
    StatusPublished
    ID Code20311

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