Template-Type: ReDIF-Paper 1.0
Author-Name:Elena Sinelnikova-Muryleva 
Author-Name-First: Elena 
Author-Name-Last: Sinelnikova-Muryleva  
Author-Workplace-Name: Gaidar Institute for Economic Policy
Title: ESTIMATING THE DEMAND FOR MONEY IN THE RUSSIAN ECONOMY FACTORING IN THE DEVELOPMENT OF BANKING TECHNOLOGIES
Abstract: This paper presents an attempt to find a stable cash demand function in Russia in the period of 2000 thru 2010. The authors assume that the demand for the �0 monetary aggregate in Russia has recently been substantially influenced by the advancement of payment innovations, namely bank payment cards. Traditional money demand models can�t explain how innovations influence the demand for money. Therefore, this paper presents a modern monetary theory approach towards the �money� issue which can explain the existence of a wide range of payment instruments, i.e., innovations. Additionally, the paper presents the results of estimations of equations of the demand for the �0 monetary aggregate factoring in indicators of payment innovations.
Length:  13 pages
Creation-Date: 2013
Revision-Date:   2013
Classification-JEL: E5
Keywords: Russian economy, money demand, banking technologies
File-URL: https://www.iep.ru/files/RePEc/gai/wpaper/0086Sinelnikova-Muryleva.pdf
File-Format: Application/pdf
File-Function: Revised version, 2013
Handle: RePEc:gai:wpaper:0086