The transactions demand for cash by endowed institutions. An invariance result

Leif Danziger

doi:10.1016/0165-1765(93)90113-Q

The transactions demand for cash by endowed institutions. An invariance result

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Abstract

This paper proves that the transactions demand for cash by an endowed institution is invariant to the rate of interest. The reason is that the rate of expenditure is endogenous and proportional to the rate of interest.

Original language	English
Pages (from-to)	63-65
Number of pages	3
Journal	Economics Letters
Volume	41
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(93)90113-Q
State	Published - 1 Jan 1993
Externally published	Yes

ASJC Scopus subject areas

Finance
Economics and Econometrics

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The transactions demand for cash by endowed institutions. An invariance result

Abstract

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