Portfolio theory and the demand for money /Neil Thompson.

By:

Thompson, Neil, 1953- [Author]

Material type: Text

text

Media type:

computer

Carrier type:

online resource

ISBN:

9781349228270

Subject(s):

Genre/Form:

Electronic Books.

LOC classification:

HG4529 .P678 1993

Online resources:

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Available additional physical forms:

Contents:

2. The Mean-Variance Approach -- Tobin's model of liquidity preference -- Portfolio choice with two risky assets -- General results and other extensions -- Issues in mean-variance analysis -- 3. Transactions and Precautionary Demand Models -- The basic inventory model -- Target-threshold models -- Precautionary demand models -- 4. Mixed Models and the General Utility Approach -- The general utility approach -- 5. The Empirical Demand for Money Function -- The long-run money demand equation -- The short-run equation -- Choice of variable -- The main empirical findings -- 6. Stability and the Demand for Money Function -- Narrow money -- Broad money -- US studies -- 7. Disequilibrium Money and Buffer Stock Models -- Partial adjustment and exogenous money -- Laidler's 'sticky-price' model -- The Artis-Lewis model -- Multi-equation disequilibrium models -- Money as a buffer stock -- The Carr-Darby model -- Other buffer stock models -- Buffer stock models: a review -- 8. Bank Lending Equations -- Company sector borrowing -- Personal sector borrowing -- 9. The Demand for Long-term Government Securities -- 10. Multi-asset Portfolio Models -- The Brainard-Tobin system -- A portfolio model for banks -- An integrated model of savings and portfolio allocation -- The estimation of portfolio models -- Financial sector models -- Personal sector models -- Multi-sector models -- 11. Summary and Conclusions.

Review: "The demand for money function is arguably the most estimated equation in empirical macroeconomics, and a major theme of this book is to review this literature and assess the current state of our knowledge on the relation. Issues such as buffer stock money are analysed in detail, while consideration is also given to the use of new econometric techniques, such as cointegration and error-correction modelling. Throughout, the demand for money is treated as one element of a much wider portfolio choice problem, which also involves other financial and real assets." "The book begins with an analysis of the various theoretical approaches to the asset-allocation decision, before moving on to discuss the empirical literature in detail. As well as looking at single-equation studies of the demand for money and other assets, the results obtained from the more complete multi-asset portfolio models are also described." "The book is designed to be of use to students following courses in macroeconomics and applied econometrics, as well as to specialists in monetary economics."--BOOK JACKET.

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Holdings
Item type	Current library	Collection	Call number	URL	Status	Date due	Barcode
Online Book (LOGIN USING YOUR MY CIU LOGIN AND PASSWORD)	G. Allen Fleece Library ONLINE	Non-fiction	HG4529.5 (Browse shelf(Opens below))	Link to resource	Available		on1378313588

Includes bibliographies and index.

1. An Introduction to Portfolio Analysis -- 2. The Mean-Variance Approach -- Tobin's model of liquidity preference -- Portfolio choice with two risky assets -- General results and other extensions -- Issues in mean-variance analysis -- 3. Transactions and Precautionary Demand Models -- The basic inventory model -- Target-threshold models -- Precautionary demand models -- 4. Mixed Models and the General Utility Approach -- The general utility approach -- 5. The Empirical Demand for Money Function -- The long-run money demand equation -- The short-run equation -- Choice of variable -- The main empirical findings -- 6. Stability and the Demand for Money Function -- Narrow money -- Broad money -- US studies -- 7. Disequilibrium Money and Buffer Stock Models -- Partial adjustment and exogenous money -- Laidler's 'sticky-price' model -- The Artis-Lewis model -- Multi-equation disequilibrium models -- Money as a buffer stock -- The Carr-Darby model -- Other buffer stock models -- Buffer stock models: a review -- 8. Bank Lending Equations -- Company sector borrowing -- Personal sector borrowing -- 9. The Demand for Long-term Government Securities -- 10. Multi-asset Portfolio Models -- The Brainard-Tobin system -- A portfolio model for banks -- An integrated model of savings and portfolio allocation -- The estimation of portfolio models -- Financial sector models -- Personal sector models -- Multi-sector models -- 11. Summary and Conclusions.

"The demand for money function is arguably the most estimated equation in empirical macroeconomics, and a major theme of this book is to review this literature and assess the current state of our knowledge on the relation. Issues such as buffer stock money are analysed in detail, while consideration is also given to the use of new econometric techniques, such as cointegration and error-correction modelling. Throughout, the demand for money is treated as one element of a much wider portfolio choice problem, which also involves other financial and real assets." "The book begins with an analysis of the various theoretical approaches to the asset-allocation decision, before moving on to discuss the empirical literature in detail. As well as looking at single-equation studies of the demand for money and other assets, the results obtained from the more complete multi-asset portfolio models are also described." "The book is designed to be of use to students following courses in macroeconomics and applied econometrics, as well as to specialists in monetary economics."--BOOK JACKET.

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