Monday, July 8, 2013

A more global perspective

I realize that focusing on US data is pretty parochial. So here are the results following the previous post but for Japan. Instead of the St. Louis Adjusted Monetary Base, I used M1 for Japan from FRED (and the GDP deflator instead of the CPI). The information transfer model still works pretty well:



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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.

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