SPECIFICATION AND ECONOMETRIC IMPROVEMENTS IN REGIONAL PORTFOLIO DIVERSIFICATION ANALYSIS

被引:16
作者
HUNT, GL [1 ]
SHEESLEY, TJ [1 ]
机构
[1] DENVER REG COUNCIL GOVT,DENVER,CO 80211
关键词
D O I
10.1111/j.1467-9787.1994.tb00864.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
We develop an alternative specification of the regional portfolio diversification problem that explicitly incorporates important information on regional economic structure and avoids certain inconsistencies in the traditional specification with respect to what constitutes the choice set. We also implement improved econometric procedures for estimating the required parameters and provide an empirical example using 1987 data for the Colorado economy to illustrate the potential differences in sectoral allocations obtained when applying our alternative approach versus the traditional one.
引用
收藏
页码:217 / 235
页数:19
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