Divisia Aggregation and Substitutability among Monetary Assets
在准齐次超越对数效用框架下估计加拿大货币、支票存款、储蓄存款和定期存款四类货币资产服务的替代程度，比较迪维西亚加总与简单加总方法，发现货币资产间替代性低且迪维西亚加总更优。
In this paper the authors estimate the degree of substitutability among the services of money, checkable deposits, savings deposits, and time deposits in a quasi-homothetic translog utility framework for Canada. The four composites mentioned are formed by aggregating more basic assets such as checkable deposits at banks, checkable deposits at trust companies, etc. Traditionally the simple-sum aggregation has been used in this context. The authors investigate both this alternative and Divisia aggregation of the assets. They find a low degree of substitution among the services of monetary assets and provide some evidence favoring Divisia aggregation over simple-sum aggregation. Copyright 1986 by Ohio State University Press.