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Money demand models for Russia: A sectoral approach

Author

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  • Krupkina, Anna
  • Ponomarenko, Alexey

Abstract

We estimate money demand models for certain monetary aggregates across different institutional sectors (a novelty for the Russian case). Our results comprise a collection of money demand equations that include different combinations of explanatory variables. Comparing the validity of these models on the basis of statistical criteria is virtually implausible. Therefore we suggest the simultaneous employment of a whole set of such models and illustrate the approach by presenting the distribution of monetary overhangs calculated on the basis of the estimated models.

Suggested Citation

  • Krupkina, Anna & Ponomarenko, Alexey, 2013. "Money demand models for Russia: A sectoral approach," BOFIT Discussion Papers 31/2013, Bank of Finland Institute for Emerging Economies (BOFIT).
    • Handle: RePEc:zbw:bofitp:bdp2013_031
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    Cited by:

    1. El-Shagi, Makram & Tochkov, Kiril, 2022. "Divisia monetary aggregates for Russia: Money demand, GDP nowcasting and the price puzzle," Economic Systems, Elsevier, vol. 46(4).

    More about this item

    Keywords

    monetary aggregates; money demand; households; non-financial corporations;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis

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