Affordable Access

Publisher Website

Simulating currency substitution bias

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
28
Issue
3
Identifiers
DOI: 10.1016/0165-1765(88)90129-2

Abstract

Abstract The sign and size of estimates of the elasticity of currency substitution critically depend on the definition of the oppurtunity costs of holding money. We investigate possible biases by means of Monte Carlo experiments, as sufficient real data are not available.

There are no comments yet on this publication. Be the first to share your thoughts.