Divisia Aggregation and Substitutability Among Monetary Assets

Apostolos Serletis,A. Leslie Robb

Divisia Aggregation and Substitutability Among Monetary Assets

2006

Apostolos Serletis
A. Leslie Robb

AbstractThe following sections are included:IntroductionTheoretical FoundationsDemand System SpecificationStochastic Specification and EstimationElasticitiesDataNear-Bank LiabilitiesAggregationAggregation of ComponentsData Sources and AdjustmentsEmpirical Results InterpretationConclusions

Keywords:

Economics
Divisia index
Welfare cost of inflation
Demand for money
Monetary economics

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