Company Sector Liquid Asset Holdings: A Systems Approach

David Barr and Keith Cuthbertson

Journal of Money, Credit and Banking, 1992, vol. 24, issue 1, 83-97

Abstract: Liquid asset holdings of the U.K. company sector are modeled using a "money in the utility function" theoretical approach. Symmetry, homogeneity, and negativity (but not homotheticity) restrictions are found to hold in a dynamic model using quarterly data. The authors examine the usefulness of cointegration techniques in a systems framework. The preferred dynamic equations are estimated using the Engle-Granger two-step procedure and have coefficients that are satisfactory on a priori grounds and are stable. Copyright 1992 by Ohio State University Press.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:24:y:1992:i:1:p:83-97

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