Barnett, William A.; He, Kun; He, Jingtong - In: Journal of risk and financial management : JRFM 15 (2022) 10, pp. 1-17
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 …