Pitfalls in Financial Model Building: Comment.
Scholar Mark Ladenson's recent elaboration of the point made by economists William Brainard and James Tobin, that security demand functions must be consistent with the balance sheet constraint, overcomplicates a simple issue. Furthermore, the two contributions by Ladenson and by Brainard and Tobin,...
| Publicado en: | American Economic Review Vol. 63; no. 5; pp. 1003 - 1005 |
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| Formato: | Artículo |
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American Economic Association
Dec73
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4508641&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4508641 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00028282 AER jtl: American Economic Review issn: 00028282 maglogo: N pubinfo: dt: Dec73 vid: 63 iid: 5 pid: 22 pub: American Economic Association artinfo: ui: 4508641 ppf: 1003 ppct: 2 formats: tig: atl: Pitfalls in Financial Model Building: Comment. aug: au: Clinton, Kevin affil: Department of Banking and Financial Analysis, Bank of Canada, Ottawa. su: Economic statistics Econometric models Demand function Economic models Tobin, James, 1918-2002 Lorenz curve Economists Phillips curve sug: subj: Economic statistics Econometric models Demand function Economic models Tobin, James, 1918-2002 Lorenz curve Economists Phillips curve ab: Scholar Mark Ladenson's recent elaboration of the point made by economists William Brainard and James Tobin, that security demand functions must be consistent with the balance sheet constraint, overcomplicates a simple issue. Furthermore, the two contributions by Ladenson and by Brainard and Tobin, taken together, are incomplete and misleading in certain respects. This note gives a general statement of the conditions for exact exhaustion of the balance sheet constraint which includes the Brainard and Tobin and Ladenson conditions as special cases, using derivations that are much simpler than those in Ladenson's article. In short, mathematical derivation of the above the anlayais is elaborated in this article to reach some interesting conclusions. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1973 holdings: @attributes: islocal: N |
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