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Aspects of Investor Behavior Under Risk
Friedman, Benjamin M. - 1985
behavior under the assumptions of constant relative risk aversion and joint normally distributed asset returns. Second …
Persistent link: https://www.econbiz.de/10012477471
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Portfolio Choice and the Debt-to-Income Relationship
Friedman, Benjamin M. - 1985
financial assets' respective risk properties indicates that debt and equity are indeed sufficiently distant substitutes for …
Persistent link: https://www.econbiz.de/10012477541
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Investors' Portfolio Behavior Under Alternative Models of Long-Term Interest Rate Expectations : Unitary, Rational, or Autoregressive
Friedman, Benjamin M. - 1980
This paper develops behavioral relationships explaining investors' demands for long-term bonds, using three alternative hypotheses about investors' expectations of future bond prices (yields). The results, based on U.S. 'data for six major categories of bond market investors, consistently...
Persistent link: https://www.econbiz.de/10012478678
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A Note on the Derivation of Linear Homogeneous Asset Demand Functions
Friedman, Benjamin M. - 1979
more general expected utility maximization in continuous time, the assumptions of constant relative risk aversion and joint … discrete time constant relative risk aversion and joint normally distributed asset return assessments are sufficient to yield …
Persistent link: https://www.econbiz.de/10012478803
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Price Inflation, Portfolio Choice, and Nominal Interest Rates
Friedman, Benjamin M. - 1978
important lenders' portfolio behavior can be in bringing about the adjustment of interest rates which Fisher's theory associates … with expected inflation. Given the importance of this adjustment for questions of both monetary theory and monetary policy …
Persistent link: https://www.econbiz.de/10012478903
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Pension Funding, Pension Asset Allocation, and Corporate Finance : Evidence From Individual Company Data
Friedman, Benjamin M. - 1982
This paper examines the relationship between U.S. corporations' management of their pension plans and their management of the more familiar aspects of corporate financial structure. The chief conclusion, on the basis of data for 7,828 pension plans sponsored by 1,836 companies and their...
Persistent link: https://www.econbiz.de/10012478148
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Structural Models of Interest Rate Determination and Portfolio Behavior in the Corporate and Government Bond Markets
Friedman, Benjamin M. - 1981
these conceptual inputs are already available from established portfolio theory, and others represent objects of current or …
Persistent link: https://www.econbiz.de/10012478512