Financial-Firm Production of Monetary Services: A Generalized Symmetric Baroett Variable-Profit-Function Approach
金融企业的货币服务生产:广义对称 Barnett 可变利润函数方法
An alternative monetary-production model of financial firms is employed to investigate supply-side monetary aggregation. Financial firms are conceived to produce monetary services as outputs through financial intermediation. A new method for testing the existence of consistent monetary-output aggregates in financial firms' production technology is developed in terms of a multiproduct firm's variable profit function, and the method does not require homotheticity of the…