Demand for Divisia Money in a Core Monetary Union
收藏ICPSR1998-01-01 更新2026-04-16 收录
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资源简介：
Proponents of an aggregation-theoretic approach to money demand argue that simple-sum measures do not capture the theoretical notion of money, especially for broad monetary aggregates. European monetary aggregation, which uses indices for monetary services, seems attractive because these indices can account for the imperfect substitutability between different currencies. This research applies the aggregation-theoretic framework to money holdings of European residents and compares the resulting index to simple-sum M3. The conclusion is that the Divisia index of European monetary services may provide additional insight into money demand during the period of transition to monetary union.
提供机构：
Institut fuer Internationale Wirtschaftspolitik, Universitaet Bonn
创建时间：
1998-01-01
