This publication deals with the money demand in Russia from 1995 through 2010. Specifi cally, the work addresses the issue whether the use of payment cards has a signifi cant impact on the money demand. The results indicate that the monetary aggregate M1 can be a tool in conducting monetary policy.

The broad aim of this paper is to estimate the money demand function for the case of six Gulf Cooperation Council countries. By applying panel cointegration tests, the empirical results reveal strong evidence of cointegration between the variables of the model for individual countries as well as...

This publication deals with the money demand in Russia from 1995 through 2010. Specifi cally, the work addresses the issue whether the use of payment cards has a signifi cant impact on the money demand. The results indicate that the monetary aggregate M1 can be a tool in conducting monetary policy.

Currency debasement, defined as a loss of precious metal content (intrinsic value) of the circulating penny currencies over time, was a common feature in the monetary history of Europe, c. 1400–1900. Over the centuries the loss rate was sustained; between 1400 and 1900 A. D. the (south) German...

Models of money demand, in the Baumol (1952)-Tobin (1956) tradition, describe optimal cash management policy in terms of when and how much cash to withdraw, an (s, S) policy. However, today, a vast array of instruments can be used to make payments, opening additional ways to control cash...

This paper shows that an economic policy change in 1982 brought about a conspicuous alteration in the relationship between money, prices and the exchange rate in Mexico. Before that year, the long-run demand for currency was the velocity equation, and inflation was driven mainly by the money...

In this paper, we examine the main measures taken by Morocco within the framework of the reform of monetary and financial structures. Also, we treat the impact of these measures on the financial wealth structure of householders and companies. So, our aim is to encircle the new behaviour...

This paper examines the problem of appropriately specifying and estimating the money demand function in the presence of adaptive expectations and partial adjustment mechanisms. The paper demonstrates the difficulty of interpreting distributed lag reduced form representations of the monetary...

This paper examines a broad set of alternative temporal cross- section specifications of the demand for money as a means of estimating the degree of substitution between demand deposits and other liquid assets. Despite differences in data bases, model specifications and estimation techniques,...