Simple sum monetary aggregates are based on accounting conventions and have no aggregation theoretic foundations in … economic theory. In contrast, Divisia monetary aggregates are directly derived from aggregation and index number theory. Credit … assets and liabilities. However, microeconomic aggregation theory aggregates over service flows, not stocks, regardless of …

relevant subgroups as well as for the whole data. A method of calculation is said to be consistent in aggregation if it gives … definition of consistency in aggregation is given for a general class of aggregation rules. We show that any aggregation method … algebraic methods to derive certain properties of index numbers satisfying consistency in aggregation. In particular, we show …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which "observed" inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ﾑobservedﾒ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …