the currency equivalent and Divisia index techniques of monetary aggregation. We employ a graphical approach to …

economic aggregatio and index number theory and aim to aggregate the money components by considering their transaction service …

construct monetary condition index (MCI) for the gulf countries, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Kingdom of Saudi …

shocks generate substantial fluctuations in aggregate productivity …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …