Journal of Financial and Quantitative Analysis Vol. 14 No. 2 1979
Effects on Purchasing Power Risk on Portfolio Demand for Money
Abstract
The problem of the portfolio demand for money was first rigorously studied by Tobin [22]. It has been analyzed since then, by Hicks [8] and Arrow [1], among many others. Many interesting results and implications regarding liquidity preference and risk-taking are derived in these studies. However, the effect of purchasing power risk on liquidity preference has been overlooked in these studies.
- DOI
- 10.2307/2330501
- Volume
- 14
- Issue
- 2
- Pages
- 243
- Sources
- openalex crossref