ISSN:
1435-8921
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Summary 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.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF01988279
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