JOURNAL ARTICLE
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Die kurzfristigen internationalen Kapitaldispositionen der Geschäftsbanken
Eine empirische Untersuchung für die Bundesrepublik Deutschland
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 100 (1980), Iss. 2 : pp. 181–202
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Neldner, Manfred
Abstract
The paper deals with the short-term foreign position of the West-German commercial banking sector using a portfolio-model of the Markowitz-Tobin variety. The estimates are on a monthly basis covering the period 1974 - 1977, and the data used have been disaggregated as far as the official statistics permit. The regression results reveal that the portfolio-theoretical stock approach is apt to explain the past variations of the short-term assets and liabilities to a considerable extent and in a much more satisfactory manner than the conventional flow approach.