Graves, Philip E. (1976): Wealth and cash asset proportions. Published in: Journal of Money, Credit, and Banking , Vol. 8, No. 4 : pp. 487-496.
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Abstract
While the paper lacks an abstract, it argues that the proportion of a portfolio devoted to cash decreases as wealth grows. This is consistent with decreasing relative risk aversion and with a money demand that is normal, but not superior.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Wealth and cash asset proportions |
| Language: | English |
| Keywords: | Money demand; cash proportions; velocity of money; portfolio analysis |
| Subjects: | E - Macroeconomics and Monetary Economics > E0 - General A - General Economics and Teaching > A1 - General Economics E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E41 - Demand for Money |
| Item ID: | 19912 |
| Depositing User: | Philip E. Graves |
| Date Deposited: | 11 Jan 2010 07:45 |
| Last Modified: | 01 Oct 2019 16:39 |
| References: | Arrow, K.J. "Aspects of the theory of risk-bearing." Lecture 2, Yrjo Jahnsson lectures. Helsinki: Yrjo Jahnsson foundation, 1965. Friedman, M. "The demand for money: some theoretical and empirical results," Journal of Political Economy, 67 (1959), 327-351. |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/19912 |
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