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Wealth and cash asset proportions

Author

Listed:
  • Graves, Philip E.

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.

Suggested Citation

  • Graves, Philip E., 1976. "Wealth and cash asset proportions," MPRA Paper 19912, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:19912
    as

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    File URL: https://mpra.ub.uni-muenchen.de/19912/1/MPRA_paper_19912.pdf
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    References listed on IDEAS

    as
    1. Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," NBER Chapters, in: The Demand for Money: Some Theoretical and Empirical Results, pages 1-29, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Graves, Philip E., 1979. "Relative Risk Aversion: Increasing or Decreasing?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(2), pages 205-214, June.
    2. Graves, Philip E, 1980. "The Velocity of Money: Evidence for the U.K., 1911-1966," Economic Inquiry, Western Economic Association International, vol. 18(4), pages 631-639, October.

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    More about this item

    Keywords

    Money demand; cash proportions; velocity of money; portfolio analysis;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • A1 - General Economics and Teaching - - General Economics
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

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