Transaction Technology Innovation and Demand for Overnight Deposits in Italy

Francesco Columba

No 468, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper analyzes the effect of transaction technology innovation on demand deposits.Using panel data for Italy we have two results. First, transaction technology innovation has a positive effect on demand deposits. Second, accounting for this innovation in the regressions significantly reduces the income elasticity of money demand typically detected in the existing empirical estimates.

Keywords: demand for money; omitted variables; transaction technology (search for similar items in EconPapers)
JEL-codes: E41 (search for similar items in EconPapers)
Date: 2003-03
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Transaction Technology Innovation and Demand for Overnight Deposits in Italy (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wptemi:td_468_03

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