Toward a bias corrected currency equivalent index |
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| Authors: | William A. Barnett John W. Keating Logan J. Kelly |
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| Affiliation: | aUniversity of Kansas, Department of Economics, Lawrence, KS 66045, United States;bBryant University, Department of Economics, Smithfield, RI 02917, United States |
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| Abstract: | The currency equivalent index measures the discounted economic capital stock of money producing the monetary service flow, but does so under assumptions that cause downward bias. We propose an extension that will correct for a significant amount of this bias. |
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