Simple sum monetary aggregate has long been questioned by theory and practice. The reforms of the measure of money initiated half century ago have not yet achieved ideal goal. In this paper, the author questions the theoretical ground of the reforms, discusses philosophy and economics principles...

This paper demonstrates that intangible assets play an important role in financial policy. Using a proprietary database of consumer brand evaluation, I show that positive consumer attitude toward a firm's products alleviates financial frictions and provides additional net debt capacity, as...