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 Ì0 monetary aggregate in Russia has recently been substantially influenced by the advancement of payment innovations, namely bank payment...

Traditional microeconomic approaches to money demand issues are considered in the article. The author also discusses current view of monetary theory on concept of “money”. New approach gives reasoning to existence of variety of payment innovations.

Traditional 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...

The author proposes models that allow assessing the money demand in Russia, taking into consideration the growing development of electronic payments. The equation considered in the article can be used to build predictive models of inflation.

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.