Financial innovation and regional money

研究成果: Article査読

8 被引用数 (Scopus)

抄録

This article studies the effect that financial innovation, which has been very common in recent years, has on money. Using Japanese regional data and the money demand specification, we first provide evidence of instability in the simple money-output relationship. However, when this relationship is extended to include a proxy for a comprehensive measure of financial innovation, the model is found to be stable. Furthermore, consistent with economic theory, evidence is obtained of financial innovation leading to decreased demand for liquid financial assets. In this respect, in Japan demand deposits seem to possess very similar characteristics to cash over recent years.

本文言語English
ページ(範囲)4617-4629
ページ数13
ジャーナルApplied Economics
44
35
DOI
出版ステータスPublished - 2012 12
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学

フィンガープリント

「Financial innovation and regional money」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

引用スタイル