Retail sweep programs and monetary asset substitution

Barry Edward Jones (), Adrian R. Fleissig, Thomas Elger () and Donald H. Dutkowsky

Economics Letters, 2008, vol. 99, issue 1, pages 159-163

Abstract: 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.

Date: 2008

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