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microeconomic aggregation or index number theory. However, most central banks in the world, including that of Singapore, the …Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been … developed and extended into a field of its own with solid foundations in microeconomic theory. Divisia monetary aggregates have …
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The use of cashless payment instruments has been on an increase over many years now. At the same time, demand for cash has been on the rise as well and we can observe a particularly high level of growth demand for banknotes during crisis times. The increase in demand for cash known as the...
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