Wealth and Cash Asset Proportions
- 1 November 1976
- journal article
- Published by JSTOR in Journal of Money, Credit and Banking
- Vol. 8 (4) , 487
- https://doi.org/10.2307/1991693
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.Keywords
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