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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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|
|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
|Depositing User:||Philip E. Graves|
|Date Deposited:||11. Jan 2010 07:45|
|Last Modified:||25. Feb 2013 09:40|
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.