Question: Specify the chain-weighted Divisia function for the monetary aggregate for your economy, derive its estimation equations and estimate the Divisia aggregate. What tests would you

Specify the chain-weighted Divisia function for the monetary aggregate for your economy, derive its estimation equations and estimate the Divisia aggregate.

What tests would you use to select between your VES and Divisia estimates? Carry out at least two of them and discuss their results.

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