Assessment of Money Demand in the Russian Economy with the Development of Banking Technology
AbstractTraditional microeconomic approaches to demand for money problem are considered in the article. It also discusses current view of monetary theory on concept of “money”. New approach gives reasoning to existence of variety of payment innovations. It provides theoretical base for inclusion of variable that describes innovations in payment sphere into equation of money demand in Russia. As a result a stable (during 2000—2010 years) money demand equation is obtained
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Bibliographic InfoPaper provided by Gaidar Institute for Economic Policy in its series Published Papers with number 135.
Length: 17 pages
Date of creation: 2012
Date of revision: 2013
money demand; payment innovations; stability; search and matching theory;
Find related papers by JEL classification:
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-05-24 (All new papers)
- NEP-CIS-2013-05-24 (Confederation of Independent States)
- NEP-MAC-2013-05-24 (Macroeconomics)
- NEP-MON-2013-05-24 (Monetary Economics)
- NEP-TRA-2013-05-24 (Transition Economics)
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