Abstract

GALAN FIGUEROA, Javier  and  VENEGAS MARTINEZ, Francisco. Impacto de los medios electrónicos de pago sobre la demanda de dinero. Inv. Econ [online]. 2016, vol.75, n.295, pp.93-124. ISSN 0185-1667.  https://doi.org/10.1016/j.inveco.2016.03.003.

This paper examines the impact of electronic payment systems of high and low value on money demand. To do this, the research departs from the theoretical framework of a model of overlapping generations that explains how electronic payment systems affects money demand and how the authority can impact on the payment systems to ensure their stability and efficiency. Subsequently, the methodologies of cointegration and error correction are applied to determine the existence of an equilibrium between electronic payments and money demand.

Keywords : electronic transfers; money demand; monetary policy; VEC..

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