Table 2 The parameter values for the construction of the recurrence plots of the growth rates of the Divisia aggregates: time delay, \({\uptau }_{{\text{T}}}\), embedding dimension, \({{\text{d}}}_{{\text{E}},{\text{T}}}\), and threshold, \({{\text{r}}}_{{\text{T}}}\)
Parameter values for the construction of the Recurrence plots | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Â | Original Divisia aggregates | Credit card-augmented Divisia aggregates | Credit card-augmented Divisia inside aggregates | ||||||
\({\tau }_{T}\) | \({d}_{E,T}\) | \({r}_{T}\) | \({\tau }_{T}\) | \({d}_{E,T}\) | \({r}_{T}\) | \({\tau }_{T}\) | \({d}_{E,T}\) | \({r}_{T}\) | |
A. Narrow monetary aggregates | |||||||||
M1 | 2 | 5 | 0.0061 | 1 | 3 | 0.003 | 1 | 4 | 0.005 |
M2 | 4 | 3 | 0.0014 | 3 | 4 | 0.0018 | 3 | 4 | 0.0022 |
M2M | 5 | 5 | 0.0025 | 5 | 6 | 0.0025 | 5 | 4 | 0.0021 |
MZM | 4 | 4 | 0.0019 | 5 | 3 | 0.0014 | 5 | 4 | 0.0022 |
ALL | 4 | 3 | 0.0016 | 4 | 4 | 0.0016 | 3 | 4 | 0.0019 |
B. Broad monetary aggregates | |||||||||
M3 | 4 | 3 | 0.002 | 3 | 3 | 0.0019 | 5 | 4 | 0.0027 |
M4- | 4 | 3 | 0.002 | 5 | 3 | 0.0018 | 5 | 4 | 0.0027 |
M4 | 4 | 3 | 0,02 | 5 | 3 | 0.0018 | NA | NA | NA |