並列タイトル等ASSET DEMAND FOR MONEY : AND THE LIQUIDITY PREFERENCE THEORY
一般注記Recently some attempts have been made suggesting a stable relationship between money and asset holdings. This naturally leads to a re-examination of the effectiveness of the liquidity preference theory in explaining the interest phenomenon on the basis of choice between money and debt. H. F. Lydall, having found that the liquidity ratio-a ratio of money holding to asset value-is stable in the personal sector, attacks the liquidity preference theory. But, concerning the determination of and changes in the interest rate, his attack is ineffective, as he has no final word on the stability of the liquidty ratios in other sectors than the personal one. However, he succeeds in some degree in questioning the foundation of the liquidity preference theory, as the changeability of the liquidity ratio in the personal sector is the basis of that theory, which explains the nature of interest as a liquidity premium. More attempts to examine the liquidity ratios in the non-personal sectors are needed for the development of the interest theory.
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KJ00005072330
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）