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Money Demand: The Guide to Monetary Policy in Russia, 1997-2020

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  • Olga Khon

    (Independent Researcher, Saint Petersburg)

Abstract

We estimate a short-run demand function, using the quarterly data available for modern Russian market - on the one-quarter basis for 1997-2020. Empirical results provide a stable money demand function that explains the short-run money velocity movement. The approach is based on econometric models and dynamic least square methods evaluation within the Akaike criterion applied for the authors? choice of leads and lags. The prior innovation related to model comparison of interest rates in money demand function ? from research-common money market rate to interbank market rate, amplifying proxy better-fitted for the Russian market.

Suggested Citation

  • Olga Khon, 0000. "Money Demand: The Guide to Monetary Policy in Russia, 1997-2020," Proceedings of International Academic Conferences 11113164, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:11113164
    as

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    References listed on IDEAS

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    More about this item

    Keywords

    Monetary policy; money demand; money velocity; income elasticity; interest semi-elasticity;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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