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Consumer Theory and the Demand for Money

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  • Barnett, William A
  • Fisher, Douglas
  • Serletis, Apostolos

Abstract

AbstractThe following sections are included:IntroductionThe Definition of MoneyThe Microeconomic Theory of a Monetary EconomyThe Aggregation-Theoretic Approach to Money DemandIndex Number TheoryThe Links Between Aggregation Theory, Index Number Theory, and Monetary TheoryUnderstanding the New Divisia AggregatesThe Optimal Level of Monetary SubaggregationEconometric ConsiderationsApproximating the Monetary Services Subutility FunctionAn ExampleEmpirical DimensionsEmpirical Comparisons of Index NumbersEmpirical Results for the Demand System ApproachExtensionsConclusions
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Suggested Citation

  • Barnett, William A & Fisher, Douglas & Serletis, Apostolos, 1992. "Consumer Theory and the Demand for Money," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2086-2119, December.
  • Handle: RePEc:aea:jeclit:v:30:y:1992:i:4:p:2086-2119
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    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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