Divisia Indices for Money: An Appraisal of Theory and Practice

Bank of England Working Paper No. 9

Posted: 6 Nov 2003

Abstract

Increasing interest has been shown in recent years in index number measures of money which weight the different components within each monetary aggregate. An assessment of Divisia measures of money including an appraisal of the theoretical arguments for the Divisia approach to monetary aggregation is presented. Also the construction of a Divisia index for the United Kingdom is described and the potential relevance of Divisia for the assessment of monetary conditions discussed.

JEL Classification: E51

Suggested Citation

Fisher, Paul and Hudson, Suzanne and Pradhan, Mahmood, Divisia Indices for Money: An Appraisal of Theory and Practice. Bank of England Working Paper No. 9, Available at SSRN: https://ssrn.com/abstract=76604

Paul Fisher (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Suzanne Hudson

Independent

Mahmood Pradhan

Bank of England

Threadneedle Street
London, EC2R 8AH
United Kingdom

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