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An Analysis of the Information Content of Alternative Credit Aggregates
Technical Report No. 49 Leslie MiltonThis study evaluates the information content of 25 measures of credit with respect to three macroeconomic variables—nominal spending, real spending and prices. Initially, simple descriptive techniques are used to assess the contemporaneous and leading relationships between the credit aggregates and the three goal variables. Next, bivariate vector autoregression models are constructed by regressing each of […]Content Type(s): Staff research, Technical reports Topic(s): Credit and credit aggregates JEL Code(s): E, E5, E51
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