Monetary Services Index

MSI Data as of February 2006

MSI data are provided on this server in 4 zipped (compressed) files. Each zipped file contains worksheets (.wks) that show seasonally adjusted and seasonally unadjusted data. Separate indexes are provided for each frequency because it is inappropriate to time-average the indexes: Rather, indexes at different frequencies should be constructed from appropriately time-aggregated data. All indexes are available at the same four levels of aggregation as the Federal Reserve Board's monetary aggregates: M1, M2, M3, and L. Indexes for M1A and a MZM are also included. CAUTION: MSI indexes labeled seasonally adjusted are calculated from individually seasonally adjusted components while the overall indexes are not seasonally adjusted.

MSIAm.zip (about 177K): This file contains monthly data on the variables shown in Section A of Table 1 in the third article by Anderson, Jones and Nesmith: the nominal expenditure on monetary services, the nominal (Törnqvist-Theil) monetary services index, the real user cost index dual to the nominal (Törnqvist-Theil) monetary services index, the currency equivalent index, and the simple sum index. (Table 1 in Adobe pdf format.) A text file that describes each series is also included.

MSIAq.zip(about 83K): This file contains quarterly and annual data on the variables shown in Section A of Table 1 in the third article by Anderson, Jones and Nesmith: the nominal expenditure on monetary services, the nominal (Törnqvist-Theil) monetary services index, the real user cost index dual to the nominal (Törnqvist-Theil) monetary services index, the currency equivalent index, and the simple sum index. (Table 1 in Adobe pdf format.) A text file that describes each series is also included.

MSIBm.zip (about 345K): This file contains monthly data on the variables shown in Section B of Table 1 in the third article by Anderson, Jones and Nesmith: the nominal monetary services index, the real (Törnqvist-Theil) user cost index, the (Törnqvist-Theil) expenditure share index, the Divisia quantity growth rate variance, the Divisia user cost growth rate variance, the Divisia expenditure share growth rate variance, and the Divisia quantity/use r cost growth rate covariance. A text file that describes each series also is included.

MSIBq.zip (about 143K): This file contains quarterly and annual data on the variables shown in Section B of Table 1 in the third article by Anderson, Jones and Nesmith: the nominal monetary services index, the real (Törnqvist-Theil) user cost index, the (Törnqvist-Theil) expenditure share index, the Divisia quantity growth rate variance, the Divisia user cost growth rate variance, the Divisia expenditure share growth rate variance, and the Divisia quantity/user cost growth rate covariance. A text file that describes each series also is included. CAUTION: MSI indexes labeled seasonally adjusted are calculated from individually seasonally adjusted components while the overall index is not seasonally adjusted.

Input Data

MSINPUT.zip (about 307K): This zipped file contains two worksheets and a text file describing the adjusted and unadjusted (raw) input data used to compute the MSI, including asset quantities, user costs, and the benchmark interest rate. The file "adjsam.wks" contains seasonally adjusted data, and the file "adjnsam.wks" contains not seasonally adjusted data. The text file "adjread.txt" explains the variables in the files. Note: the user costs and benchmark rate are the same in both files.

MSIDATAH.zip ( 100K ): Historical data used in Rats program to calculate the MSI series.

MSIDATAR.zip ( 80K ): Revised data used in Rats program to calculate the MSI series.

Computer Programs

MSRATS.zip (69K): The computer programs, in Rats version 4.2, plus a descriptive file "programs.txt."

Data from Previous Divisia Research

Data and programs available prior to the benchmark revisions of September 17, 2004 (data through April 2004).

Divisia Monetary Aggregates -- through 1992


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