Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2008
aggregation theory, now exist, the usual official central bank data are not based on that better approach. While aggregation …, the simple sum monetary aggregates have had no foundations in economic theory and have sequentially produced one source of … misunderstanding after another. The bad data produced by simple sum aggregation have contaminated research in monetary economics, have …