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- W2312198471 abstract "A complete understanding of the mechanism by which monetary policy instruments affect real goods and the level of economic activity depends critically upon an adequate explanation of the behavior of financial institutions. A seemingly fruitful framework of analysis for the portfolio behavior of financial institutions has been put forward by several authors including Parkin [12]; Parkin, Gray, and Barrett [13]; I. Sharpe [16; 17]; W. F. Sharpe [18]; and Swan [20]. A typical decision maker is assumed to maximize expected utility of his portfolio return (profit) by choosing an optimum portfolio. In this study, we adopt an unconventional approach for testing the appropriateness of such a model. As the previously mentioned studies suggest, we shall divide the assets (liabilities are treated as negative assets) in a typical portfolio of a financial institution into a choice set and an exogenous set. The decision maker chooses the levels of the assets in the choice set and has no control over the levels of" @default.
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- W2312198471 title "Time Series Analysis and Portfolio Selection: An Application to Mutual Savings Banks" @default.
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- W2312198471 doi "https://doi.org/10.2307/1057480" @default.
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