Wealth and cash asset proportions

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.

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Year of publication:	1976-11
Authors:	Graves, Philip E.
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Money demand \| cash proportions \| velocity of money \| portfolio analysis

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E0 - Macroeconomics and Monetary Economics. General ; A1 - General Economics ; E4 - Money and Interest Rates ; E41 - Demand for Money
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008567655