2019
DOI: 10.5430/ijfr.v10n6p232
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Role of Advertising Expenditure as an Influential Non-traditional Regressor in Russia’s Money Demand Specification

Abstract: The term advertising refers to the strategy that affects consumer behaviour and induces higher household final consumption expenditure (HFCE), which is associated with incredibly demanding for money upon transaction usages and a reduction in search costs. The model of money demand that is stable, reliable and well defined is crucial for central banks in formulating their monetary policy to minimise the gap between the supply and demand of money. Hence, this paper examines the influence of expenditure in advert… Show more

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Cited by 1 publication
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“…Other than exchange rate, other studies explored this field with other factors or different perspectives. For example, Hiew et al (2013) and Hiew et al (2019) tested the traditional MDF with advertising expenditure as a new regressor for the case of Indonesia and Russia. Leong et al (2010) and Puah et al (2018) revisited the MDF by comparing simple-sum and Divisia monetary aggregates.…”
Section: Literature Reviewmentioning
confidence: 99%
“…Other than exchange rate, other studies explored this field with other factors or different perspectives. For example, Hiew et al (2013) and Hiew et al (2019) tested the traditional MDF with advertising expenditure as a new regressor for the case of Indonesia and Russia. Leong et al (2010) and Puah et al (2018) revisited the MDF by comparing simple-sum and Divisia monetary aggregates.…”
Section: Literature Reviewmentioning
confidence: 99%