The semi-log portfolio balance schedule is tenuous

Kingston G.H. (1982) The semi-log portfolio balance schedule is tenuous. Journal of Monetary Economics, 9 3: 389-399. doi:10.1016/0304-3932(82)90025-3

Author Kingston G.H.
Title The semi-log portfolio balance schedule is tenuous
Journal name Journal of Monetary Economics   Check publisher's open access policy
ISSN 0304-3932
Publication date 1982-01-01
Sub-type Article (original research)
DOI 10.1016/0304-3932(82)90025-3
Open Access Status Not yet assessed
Volume 9
Issue 3
Start page 389
End page 399
Total pages 11
Language eng
Subject 2002 Cultural Studies
2003 Language Studies
Abstract A well-known procedure in the context of the semi-log portfolio balance schedule is to impose an arbitrary terminal condition that rules out the occurrence of runaway inflations in the absence of runaway growth in the money supply. Notwithstanding the fact that a formal justification for this procedure is sometimes available in the context of equations that emerge from optimum problems, this paper finds that no such justification is available in the context of several leading optimizing models of money that either conceivably or actually deliver the Cagan schedule. A byproduct of the analysis is a demonstration that the semi-log, double-log, and Box-Cox schedules are integrable (can be generated by at least one optimizing framework).
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: Scopus Import - Archived
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Citation counts: TR Web of Science Citation Count  Cited 10 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 9 times in Scopus Article | Citations
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