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Consumer Theory and the Demand for Money

In: The Theory of Monetary Aggregation


  • William A. Barnett
  • Douglas Fisher
  • Apostolos Serletis


The 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

  • William A. Barnett & Douglas Fisher & Apostolos Serletis, 2000. "Consumer Theory and the Demand for Money," Contributions to Economic Analysis, in: The Theory of Monetary Aggregation, pages 389-427, Emerald Group Publishing Limited.
  • Handle: RePEc:eme:ceazzz:s0573-8555(2000)0000245027
    DOI: 10.1108/S0573-8555(2000)0000245027

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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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