Kelly, Logan J (2008): The Currency Equivalent Index and the Current Stock of Money.
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Abstract
The currency equivalent index provides an elegant method for measuring the stock of money, but it rests upon assumptions that do not match an important characteristic of the data. Thus, it is unclear what, if anything, the CE measures. This paper attempts to answer this question by deriving the current stock of money (CSM), which is defined to be the discounted present value of the monetary service flows provided by only the current portfolio of monetary assets, and then analyzing the assumptions under which the current stock of money can be measured by the currency equivalent index.
Item Type:  MPRA Paper 

Original Title:  The Currency Equivalent Index and the Current Stock of Money 
Language:  English 
Keywords:  Currency Equilivant Index, Monetary Aggregation, Money Stock 
Subjects:  C  Mathematical and Quantitative Methods > C4  Econometric and Statistical Methods: Special Topics > C43  Index Numbers and Aggregation E  Macroeconomics and Monetary Economics > E4  Money and Interest Rates > E49  Other 
Item ID:  7270 
Depositing User:  Logan Kelly 
Date Deposited:  20. Feb 2008 00:40 
Last Modified:  25. Feb 2013 11:03 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/7270 
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The Currency Equivalent Index and the Current Stock of Money. (deposited 15. Feb 2008 19:22)
 The Currency Equivalent Index and the Current Stock of Money. (deposited 20. Feb 2008 00:40) [Currently Displayed]