The Contrast between Portfolio Theory and Econometric Models of the U.K. Monetary Sector

David Mayes and D. Savage

Chapter 10 in Modern Portfolio Theory and Financial Institutions, 1983, pp 211-230 from Palgrave Macmillan

Abstract: Abstract It is one thing to write down in conceptual terms a complete portfolio model of the monetary system, it is quite another to estimate such a model in practice. In this article we review econometric models of the UK monetary sector which have been constructed and conclude that there is a considerable gap between estimated and theoretical models.

Keywords: Interest Rate; Balance Sheet; Money Supply; Government Debt; Bank Lending (search for similar items in EconPapers)
Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05843-3_10

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DOI: 10.1007/978-1-349-05843-3_10

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