Did the Keynesian revolution retard the development of portfolio theory?

Autor:	I. MAES
Jazyk:	angličtina
Rok vydání:	2013
Předmět:	Hicks portfolio theory Tobin Keynesian revolution Political science Economic theory. Demography HB1-3840
Zdroj:	PSL Quarterly Review, Vol 39, Iss 159 (2013)
Druh dokumentu:	article
ISSN:	2037-3643 2037-3635
DOI:	10.13133/2037-3643/11085
Popis:	In 1935 Hicks put forward a framework for monetary theory which contained the essence of portfolio theory. Twenty years passed before Tobin then picked up this research and developed it further, going on to receive the nobel prize in 1981. This work explains this gap by hypothesising that with the Keynesian Revolution, research became concentrated on the real sector of the economy, while the monetary sector was represented by the money demand function. As attention become centred on the real sector, the monetary sector was narrowed to the demand for money function. JEL: B22, E40
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/8df9b5ae7f0b45bd84e320b4f516a647 Zobrazit plný text záznamu View record in DOAJ