What does yieldless mean?
Yieldless means Not providing any yield or return..
Pronunciation varies by accent · adjective
Not providing any yield or return..
In the sample case of riskless and yieldless money, and a multivariate normal distribution for the yields of all other assets, Tobin's famous separation theorem implies that a proportional tax decreases the demand for money and increases the demand for all risky assets.
And Death's grim hands grip hard below / At mortared seams of the yieldless stone
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Yieldless means Not providing any yield or return..
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In the sample case of riskless and yieldless money, and a multivariate normal distribution for the yields of all other assets, Tobin's famous separation theorem implies that a proportional tax decreases the demand for money and increases the demand for all risky assets.
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