학술논문
A Utility Maximization Approach to Individual Bank Asset Selection.
Document Type
Article
Author
Source
Journal of Money, Credit & Banking (Ohio State University Press); May77, Vol. 9 Issue 2, p316-327, 12p, 3 Charts
Subject
Language
ISSN
00222879
Abstract
The article examines the total asset portfolio decisions of commercial banks through theoretical and empirical research. In open market operations the interest rates on government securities fluctuate in relation to those on private financial claims and induce portfolio adjustments. The substitution of commercial bank assets for one another is one of those adjustments and is a key player in the transmission of policy actions in private spending. Fiscal policy actions are also impacted by this substitution of bank assets.