Retail sweep programs and monetary asset substitution

This paper examines how retail sweep programs affect monetary asset substitution. Estimates from the Fourier flexible form reveal that sweeping generates systematic and sometimes large distortions in estimated bank depositor substitution elasticities.

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Year of publication:	2008
Authors:	Jones, Barry E. ; Fleissig, Adrian R. ; Elger, Thomas ; Dutkowsky, Donald H.
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 1, p. 159-163
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005296237