![Sweep programs and optimal monetary aggregation [An article from: Journal of Banking and Finance]](https://www.ebooknetworking.net/books/B00/0RR/bigB000RR2V1C.jpg)
Sweep programs and optimal monetary aggregation [An article from: Journal of Banking and Finance]
Book Details
Author(s)B.E. Jones, D.H. Dutkowsky, T. Elger
PublisherElsevier
ISBN / ASINB000RR2V1C
ISBN-13978B000RR2V13
AvailabilityAvailable for download now
Sales Rank11,721,862
MarketplaceUnited States 🇺🇸
Description
This digital document is a journal article from Journal of Banking and Finance, published by Elsevier in 2005. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
This paper examines the admissibility of monetary aggregate groupings for the US over 1993-2001, based upon weak separability. We investigate the impact of retail and commercial demand deposit sweep programs on the separability of monetary asset groupings. Weak separability is tested using the Swofford-Whitney and Fleissig-Whitney tests. We use Varian's measurement error adjustment procedure to eliminate violations of the Generalized Axiom of Revealed Preference (GARP). When funds from both retail and commercial demand deposit sweep programs are placed within checkable deposits, all groupings, narrow and broad, pass GARP and weak separability. For groupings based on conventional money measures, tests tend to favor broad aggregates.
Description:
This paper examines the admissibility of monetary aggregate groupings for the US over 1993-2001, based upon weak separability. We investigate the impact of retail and commercial demand deposit sweep programs on the separability of monetary asset groupings. Weak separability is tested using the Swofford-Whitney and Fleissig-Whitney tests. We use Varian's measurement error adjustment procedure to eliminate violations of the Generalized Axiom of Revealed Preference (GARP). When funds from both retail and commercial demand deposit sweep programs are placed within checkable deposits, all groupings, narrow and broad, pass GARP and weak separability. For groupings based on conventional money measures, tests tend to favor broad aggregates.
