The dmai package builds monetary aggregates from their components (currency, demand deposits, savings and time deposits, ...) by the methods of index number theory. The Divisia index of Barnett (1980) weights every component by its share in the expenditure on monetary services, priced by its user cost (Barnett 1978); the package also gives the Fisher ideal index, a variant with simple growth rates, the simple sum and the currency equivalent index, the dual user-cost price index and the Divisia second moments.
Functions
dmai()the aggregate by one method (Barnett, Hancock, Fisher, simple sum, currency equivalent).
dmai_compare()every method on the same data.
dmai_user_cost()user costs and expenditure shares of the components.
dmai_moments()Divisia means and variances of the growth of the components.
dmai_interpret(),dmai_cite(),dmai_app()plain-language interpretation, references and a shiny application.
The data sets money_sim (simulated monetary data) and cpi_ch19 (the artificial data
of the Consumer Price Index Manual, used to check the index formulas) come with the package.
References
Barnett, W. A. (1978). The user cost of money. Economics Letters, 1(2), 145–149. doi:10.1016/0165-1765(78)90051-4
Barnett, W. A. (1980). Economic monetary aggregates: an application of index number and aggregation theory. Journal of Econometrics, 14(1), 11–48. doi:10.1016/0304-4076(80)90070-6
Author
Muhammad Yaseen (myaseen208@gmail.com) and Ahmad Nadeem (Ahmed.Nadeem@sbp.org.pk)