We highlight differences in the way multiplicative DEA is being applied and draw attention to the fact that a units-invariant (i.e. scale-invariant) form is available. Moreover, this model avoids the ‘zero weight problem' in DEA (where criteria are effectively ignored)

This paper proposes a set of alternative DEA-based money indices that are proved to be both theoretically and empirically competing monetary aggregates since they perform as good as the Divisia aggregates. Based on all the results concerning causality, forecasting and money demand, we conclude...