A Comprehensive Revision of the US Monetary Services (Divisia) Indexes
(2011) In Federal Reserve Bank of St. Louis Review 93(5). p.325-358- Abstract
- The authors introduce a comprehensive revision of the Divisia monetary aggregates for the United States published by the Federal Reserve Bank of St. Louis, referred to as the Monetary Services Indexes (MSI). These revised MSI are available at five levels of aggregation, including a new broad level of aggregation that includes all of the assets currently reported on the Federal Reserve's H.6 statistical release. Several aspects of the new MS] differ from those previously published. One such change is that the checkable and savings deposit components of the MSI are now adjusted for the effects of retail sweep programs, beginning in 1994. Another change is that alternative MSI are provided using two alternative benchmark rates. In addition,... (More)
- The authors introduce a comprehensive revision of the Divisia monetary aggregates for the United States published by the Federal Reserve Bank of St. Louis, referred to as the Monetary Services Indexes (MSI). These revised MSI are available at five levels of aggregation, including a new broad level of aggregation that includes all of the assets currently reported on the Federal Reserve's H.6 statistical release. Several aspects of the new MS] differ from those previously published. One such change is that the checkable and savings deposit components of the MSI are now adjusted for the effects of retail sweep programs, beginning in 1994. Another change is that alternative MSI are provided using two alternative benchmark rates. In addition, the authors have simplified the procedure used to construct the own rate of return for small-denomination time deposits and have discontinued the previous practice of applying an implicit return to some or all demand deposits. The revised indexes begin in 1967 rather than 1960 because of data limitations. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/2211996
- author
- Anderson, Richard G. and Jones, Barry LU
- organization
- publishing date
- 2011
- type
- Contribution to journal
- publication status
- published
- subject
- in
- Federal Reserve Bank of St. Louis Review
- volume
- 93
- issue
- 5
- pages
- 325 - 358
- publisher
- Federal Reserve Bank St Louis
- external identifiers
-
- wos:000295425200003
- scopus:80052559137
- ISSN
- 0014-9187
- language
- English
- LU publication?
- yes
- id
- b4a0de63-61c9-422c-97a1-ef70e9c21f1a (old id 2211996)
- alternative location
- http://research.stlouisfed.org/publications/review/11/09/325-360Anderson.pdf
- date added to LUP
- 2016-04-01 11:02:24
- date last changed
- 2022-02-02 23:14:31
@article{b4a0de63-61c9-422c-97a1-ef70e9c21f1a,
abstract = {{The authors introduce a comprehensive revision of the Divisia monetary aggregates for the United States published by the Federal Reserve Bank of St. Louis, referred to as the Monetary Services Indexes (MSI). These revised MSI are available at five levels of aggregation, including a new broad level of aggregation that includes all of the assets currently reported on the Federal Reserve's H.6 statistical release. Several aspects of the new MS] differ from those previously published. One such change is that the checkable and savings deposit components of the MSI are now adjusted for the effects of retail sweep programs, beginning in 1994. Another change is that alternative MSI are provided using two alternative benchmark rates. In addition, the authors have simplified the procedure used to construct the own rate of return for small-denomination time deposits and have discontinued the previous practice of applying an implicit return to some or all demand deposits. The revised indexes begin in 1967 rather than 1960 because of data limitations.}},
author = {{Anderson, Richard G. and Jones, Barry}},
issn = {{0014-9187}},
language = {{eng}},
number = {{5}},
pages = {{325--358}},
publisher = {{Federal Reserve Bank St Louis}},
series = {{Federal Reserve Bank of St. Louis Review}},
title = {{A Comprehensive Revision of the US Monetary Services (Divisia) Indexes}},
url = {{http://research.stlouisfed.org/publications/review/11/09/325-360Anderson.pdf}},
volume = {{93}},
year = {{2011}},
}