English Abstract: In this study we propose a Bayesian framework for optimal foreign currency portfolio selection … density combination. Given the combined predictive density, the optimal portfolio weights are derived. According to the … portfolio weights are substantially different from those when the model uncertainty is not incorporated. This means that the …

would change the investment portfolio in consideration of inflation. We further found evidence consistent with the rational …

, the portfolio proportion of deposits in banks should be reduced, and that of foreign bond should be increased. In addition …