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.
|Date of creation:||Jun 1979|
|Date of revision:|
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Web page: http://mpra.ub.uni-muenchen.de
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- Milton Friedman, 1959.
"The Demand for Money: Some Theoretical and Empirical Results,"
National Bureau of Economic Research, Inc, number frie59-1, August.
- Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," Journal of Political Economy, University of Chicago Press, vol. 67, pages 327.
- 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.
- Graves, Philip E, 1976.
"Wealth and Cash Asset Proportions,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 8(4), pages 487-96, November.
- Graves, Philip E, 1978.
"New Evidence on Income and the Velocity of Money,"
Western Economic Association International, vol. 16(1), pages 53-68, January.
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