Barnett, William; Kelly, Logan; Keating, John - Department of Economics, University of Kansas - 2010
Historically, attempts to solve the liquidity puzzle have focused on narrowly defined monetary aggregates, such as non …. However, little research has investigated the role measurement error plays in the liquidity puzzle, since in nearly every case …, work investigating the liquidity puzzle has used one of the official monetary aggregates, which have been shown to exhibit …