Monetary aggregates, their information content and their aggregation error: Some preliminary findings for Austria, 1965-1980

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Monetary aggregates, their information content and their aggregation error : Some preliminary findings for Austria, 1965-1980. / Driscoll, M. J.; Ford, J. L.; Mullineux, A. W.; Kohler, W.

In: Empirical Economics, Vol. 10, No. 1, 01.03.1985, p. 13-25.

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@article{510d69778bec47feac9ede469db0e863,
title = "Monetary aggregates, their information content and their aggregation error: Some preliminary findings for Austria, 1965-1980",
abstract = "In this paper we use information theory to assess the indicator quality, in the Austrian economy, of various monetary aggregates. In addition to simple sum aggregates we utilise discrete Divisia quantity indices, which have reputable aggregation and statistical attributes. Without using a particular macro-economic model we estimate the expected information gains, with respect to various policy objectives like inflation, real growth and unemployment, derived from monitoring various monetary aggregates. Finally, we compare the empirical results derived for Austria with those provided in earlier studies, using UK and United States data.",
author = "Driscoll, {M. J.} and Ford, {J. L.} and Mullineux, {A. W.} and W. Kohler",
year = "1985",
month = mar,
day = "1",
doi = "10.1007/BF01988279",
language = "English",
volume = "10",
pages = "13--25",
journal = "Empirical Economics",
issn = "0377-7332",
publisher = "Springer",
number = "1",

}

RIS

TY - JOUR

T1 - Monetary aggregates, their information content and their aggregation error

T2 - Some preliminary findings for Austria, 1965-1980

AU - Driscoll, M. J.

AU - Ford, J. L.

AU - Mullineux, A. W.

AU - Kohler, W.

PY - 1985/3/1

Y1 - 1985/3/1

N2 - In this paper we use information theory to assess the indicator quality, in the Austrian economy, of various monetary aggregates. In addition to simple sum aggregates we utilise discrete Divisia quantity indices, which have reputable aggregation and statistical attributes. Without using a particular macro-economic model we estimate the expected information gains, with respect to various policy objectives like inflation, real growth and unemployment, derived from monitoring various monetary aggregates. Finally, we compare the empirical results derived for Austria with those provided in earlier studies, using UK and United States data.

AB - In this paper we use information theory to assess the indicator quality, in the Austrian economy, of various monetary aggregates. In addition to simple sum aggregates we utilise discrete Divisia quantity indices, which have reputable aggregation and statistical attributes. Without using a particular macro-economic model we estimate the expected information gains, with respect to various policy objectives like inflation, real growth and unemployment, derived from monitoring various monetary aggregates. Finally, we compare the empirical results derived for Austria with those provided in earlier studies, using UK and United States data.

UR - http://www.scopus.com/inward/record.url?scp=34250110177&partnerID=8YFLogxK

U2 - 10.1007/BF01988279

DO - 10.1007/BF01988279

M3 - Article

AN - SCOPUS:34250110177

VL - 10

SP - 13

EP - 25

JO - Empirical Economics

JF - Empirical Economics

SN - 0377-7332

IS - 1

ER -