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.
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© 1983 Desmond Corner and David G. Mayes
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Mayes, D.G., Savage, D. (1983). The Contrast between Portfolio Theory and Econometric Models of the U.K. Monetary Sector. In: Corner, D., Mayes, D.G. (eds) Modern Portfolio Theory and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-05843-3_10
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DOI: https://doi.org/10.1007/978-1-349-05843-3_10
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-05845-7
Online ISBN: 978-1-349-05843-3
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