{"id":3186,"date":"2018-06-15T00:02:59","date_gmt":"2018-06-14T22:02:59","guid":{"rendered":"http:\/\/www.rsijournal.eu\/?p=3186"},"modified":"2018-06-12T19:25:46","modified_gmt":"2018-06-12T17:25:46","slug":"investigating-the-impact-of-financial-innovation-on-the-volatility-of-the-demand-for-money-in-the-united-stated-in-the-context-of-an-archgarch-model","status":"publish","type":"post","link":"https:\/\/rsijournal.eu\/?p=3186","title":{"rendered":"INVESTIGATING THE IMPACT OF FINANCIAL INNOVATION ON THE VOLATILITY OF THE DEMAND FOR MONEY IN THE UNITED STATED IN THE CONTEXT OF AN ARCH\/GARCH MODEL"},"content":{"rendered":"

Payam MOHAMMAD ALIHA<\/h2>\n

Ph.D candidate, Universiti Kebangsaan Malaysia (UKM), Malaysia<\/h3>\n

payammaliha@gmail.com<\/h3>\n

Tamat SARMIDI<\/h2>\n

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia<\/h3>\n

tamat@ukm.edu.my<\/h3>\n

Fathin FAIZAH SAID<\/h2>\n

Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia<\/h3>\n

fatin@ukm.edu.my<\/h3>\n

Abstract<\/strong><\/p>\n

This paper investigates the effect of financial innovation on real money demand in the United States using GARCH estimation technique between 1990 and 2016. Ratios of broad money stock to GDP and growth in net domestic credit to GDP were included in a conventional money demand function to account for the financial innovation. The results indicate that neither external shocks (financial innovation) nor internal shocks (previous years\u2019 information) influence the volatility of the money demand.<\/p>\n

Keywords:<\/strong> money demand, ARCH\/GARCH, financial innovation, internal\/external shock<\/p>\n

JEL classification:<\/strong> C13, C40, C51, E40, E44
\nread more<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Payam MOHAMMAD ALIHA Ph.D candidate, Universiti Kebangsaan Malaysia (UKM), Malaysia payammaliha@gmail.com Tamat SARMIDI Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia tamat@ukm.edu.my Fathin FAIZAH SAID Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia fatin@ukm.edu.my Abstract This paper investigates the effect of financial innovation on real…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[181],"tags":[589,400,401,402,403,404,397,590,395],"class_list":["post-3186","post","type-post","status-publish","format-standard","hentry","category-published","tag-archgarch","tag-c13","tag-c40","tag-c51","tag-e40","tag-e44","tag-financial-innovation","tag-internalexternal-shock","tag-money-demand"],"_links":{"self":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts\/3186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3186"}],"version-history":[{"count":2,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts\/3186\/revisions"}],"predecessor-version":[{"id":3188,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts\/3186\/revisions\/3188"}],"wp:attachment":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}