01603pab a2200181 454500008004000000100002300040245007100063260000900134300001300143362001100156520105000167650002001217700001901237773003401256909001001290999001701300952010401317180718b2001   xxu||||| |||| 00| 0 eng d  aAcharya, Debashish  aSimple sum vs divisia monetary aggregates: an empirical evaluation  c2001  ap.317-26  a27 Jan  aThis paper seeks to establish the superiority of the Divisia monetary aggregates over their simple sum counterparts in India.  The aggregates are constructed over weakly separable groups obtained from a non-parametrio test of separability considering four assets, viz, (i) currency with the public, (ii) net demand deposits with the banks, (iii) net time deposits with the banks and (iv) post office savings deposits.  The analysis covers two different samples - one annual (1970-1996) and the other monthly (1985:04-1996:09).  The comparative performance of the divisia aggregates in relation to the simple sum aggregates is evaluated with the help of three tests, viz, money demand stability, information content and Davidson-Mackinnon J-tests.  The results of the study show that the Divisia aggregates have an edge over their simple sum counterparts.  Further, the results of an extended analysis covering a new asset, viz, the certificate of deposit, also exhibit a similar trend for the monthly sample period: 1994:06-1996:07. - Reproduced  aMonetary policy  aKamaiah, Bandi  aEconomic and Political Weekly  a47691  c47691d47691  00104070aIIPAbIIPAd2018-07-19hVolume no: 36, Issue no: 4pAR48119r2018-07-19w2018-07-19yAR