The paper considers some of the problems associated with the indirectly measured components of financial service outputs in the System of National Accounts (SNA), termed FISIM (Financial Intermediation Services Indirectly Measured). The paper characterizes FISIM by a user cost and supplier...

The paper considers some of the problems associated with the indirectly measured components of financial service outputs in the System of National Accounts (SNA), termed FISIM (Financial Intermediation Services Indirectly Measured). The paper utilizes a user cost and supplier benefit approach to...

Indexes often incorporate various biases due to their methods of construction. The Constant Elasticity of Substitution (CES) index can potentially eliminate substitution bias without needing current period expenditure data. The CES index requires an elasticity parameter. We derive a system of...

this paper provides a theoretical examination of the potential costs of interstate rivalery in aquiring major sporting/cultural events and large investment projects, the ownership rights to which are held be a sole supplier.

This study examines the long-run responses of economic activity to changes in monetary conditions in open economies. The empirical results of the study, based on monthly data from Australia, Germany, the Netherlands and the United States provide suport for a positive and significant effect of...