Preview

RSUH/RGGU BULLETIN. Series Economics. Management. Law

Advanced search

How much money is right for the Russians and for what

Abstract

The purpose of this article is the publication of results of the empirical analysis of money demand in modern Russia. For that end a theoretical basis and functional form of the money demand equation with the data for its evaluation were chosen, the best composition of the regressors in the equation was identified and econometric methodology was formulated. Also some tests for stationarity and cointegration of variables were made, error correction model was estimated as well as the stability of the demand for money function was tested.

About the Author

Boris Alekhin
Russian State University for the Humanities
Russian Federation


References

1. Friedman M. The demand for money: some theoretical and empirical results // Journal of Political Economy. 1959. Vol. 67.

2. Laidler D.E.W. The Demand for Money: Theories and Evidence. L.: Harper & Row, 1977.

3. Duprey J.N. The Search for a Stable Money Demand Equation // Federal Reserve Bank of Minneapolis. Quarterly Review. 1980. Vol. 4. № 3. P. 5.

4. Дробышевский С.М., Кузьмичева Г.В., Синельникова-Мурылева Е.В., Трунин П.В. Моделирование спроса на деньги в российской экономике в 1999-2008. М., 2010.

5. Синельникова-Мурылева Е.В. Мировой опыт исследований спроса на деньги и его применение для России // Российский внешнеэкономический вестник. 2011. № 11.

6. Синельникова-Мурылева Е.В. Оценка спроса на деньги в российской экономике с учетом развития банковских технологий // Экономическая политика. 2012. № 4.

7. Алехин Б.И. Кредитно-денежная политика. М.: ЮНИТИ-ДАНА, 2004.

8. Sriram S.S. Survey of Recent Empirical Money Demand Studies // IMF Staff Papers. 2001. Vol. 47. № 3. P. 335.

9. Davidson P. Financial Markets, Money and the Real World. Cheltenham; Northampton, MA, 2002. P. 87.

10. Keynes J.M. The General Theory of Employment, Interest, and Money. Ch. 15, I // The University of Adelaide [Электронный ресурс]. URL: https://ebooks.adelaide.edu.au/k/keynes/john_maynard/k44g/complete.html#chapter15 (дата обращения: 17.02.2015).

11. Sriram S.S. Survey of Literature on Demand for Money: Theoretical and Empirical Work with Special Reference to Error-Correction Models // IMF Working Paper. 1999. Vol. 64. P. 8.

12. Статистика // Центральный банк Российской Федерации [Электронный ресурс]. URL: http://www.cbr.ru/statistics/ (дата обращения: 17.02.2015).

13. Национальный счета // Федеральная служба государственной статистики [Электронный ресурс]. URL: http://www.gks.ru/wps/wcm/connect/rosstat_main/rosstat/ru/statistics/accounts/ (дата обращения: 17.02.2015).

14. Granger C.W.J., Newbold P. Spurious Regressions in Econometrics // Journal of Econometrics. 1974. Vol. 2. P. 111, 117.

15. Engle R.F., Granger C.W.J. Co-Integration and Error Correction: Representation, Estimation, and Testing // Econometrica. 1987. Vol. 55. № 2. P. 251-276.

16. Магнус Я.Р., Катышев П.К., Пересецкий А.А. Эконометрика. Начальный курс. М.: Дело, 2005. С. 252.

17. Johansen S. Statistical analysis of cointegration vectors // Journal of Economic Dynamics and Control. 1988. Vol. 12. № 2-3. P. 231-254.

18. Johansen R., Juselius K. Testing structural hypothesis in multivariate cointegration of the PPP and the UIP for UK // Journal of Econometrics. 1992. Vol. 53. P. 211-244.

19. Murray M.P. A Drunk and Her Dog: an Illustration of Cointegration and Error Correction // The American Statistician. February 1994. Vol. 48. № 1. P. 37.

20. Ssekuma R. A Study of Cointegration Models with Applications: Master of Commerce Thesis. University of South Africa, 2011. P. 18.


Review

For citations:


Alekhin B. How much money is right for the Russians and for what. RSUH/RGGU BULLETIN. Series Economics. Management. Law. 2015;(2):71-94. (In Russ.)

Views: 286


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.


ISSN 2073-6304 (Print)