Relative Risk Aversion: Increasing or Decreasing?
While there is no abstract for this paper, it makes an argument that relative risk aversion is decreasing in wealth rather than increasing in wealth as hypothesized by Arrow, using the money demand findings of Friedman.
(This abstract was borrowed from another version of this item.)
Volume (Year): 14 (1979)
Issue (Month): 02 (June)
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References listed on IDEAS
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- Milton Friedman, 1959.
"The Demand for Money: Some Theoretical and Empirical Results,"
in: The Demand for Money: Some Theoretical and Empirical Results, pages 1-29
National Bureau of Economic Research, Inc.
- Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," NBER Books, National Bureau of Economic Research, Inc, number frie59-1.
- Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," Journal of Political Economy, University of Chicago Press, vol. 67, pages 327-327.
- Graves, Philip E, 1976. "Wealth and Cash Asset Proportions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(4), pages 487-496, November.
- Graves, Philip E., 1976. "Wealth and cash asset proportions," MPRA Paper 19912, University Library of Munich, Germany.
- Graves, Philip E, 1978. "New Evidence on Income and the Velocity of Money," Economic Inquiry, Western Economic Association International, vol. 16(1), pages 53-68, January.