Sectoral Money Demand: A Co-Integration Approach

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

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The Investment Climate in Russia

Voprosy Ekonomiki ◽

10.32609/0042-8736-2006-5-48-77 ◽

2006 ◽

pp. 48-77

Author(s):

Article Editorial

Keyword(s):

Money Demand ◽

State Level ◽

Decision Making Process ◽

Investment Climate ◽

Operational Environment ◽

Gdp Growth Rate ◽

External Conditions ◽

Potential Gdp ◽

The Government ◽

Economic Boom

During the last six years, exceptionally favourable external conditions for an upsurge of the domestic economy have been developed. However, they failed to result in an economic boom, which has been estimated by the authors as quite possible. One of the reasons for this - deterioration of the investment climate in the country that caused a decline of business activities and money demand decrease thus leading to reduction of potential GDP growth rate. The accumulated modernisation problems cannot be resolved without increasing the economic dynamics. But this requires an economic policy able to facilitate predictability of Russian business operational environment, to protect it legally, to secure a system of partnership relations with the government and to respect the interests of the main participants in the state level decision-making process concerning business undertakings and investment climate.

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Long-term signature after stress early in life by using mRNA-MicroRNA integration approach in rats and humans

10.26226/morressier.5785edc3d462b80296c99095 ◽

2016 ◽

Author(s):

Chiara Malpighi

Keyword(s):

Integration Approach

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The Demand For Money in Pakistan: Reply (Notes and Comments)

The Pakistan Development Review ◽

10.30541/v14i3pp.370-375 ◽

1975 ◽

Vol 14 (3) ◽

pp. 370-375

Author(s):

M. A. Akhtar

Keyword(s):

Interest Rates ◽

Money Demand ◽

Strong Support ◽

Physical Capital ◽

Careful Examination ◽

Demand For Money ◽

Weak Support ◽

Complementarity Hypothesis ◽

The Difference ◽

The One

I am grateful to Abe, Fry, Min, Vongvipanond, and Yu (hereafter re¬ferred to as AFMVY) [1] for obliging me to reconsider my article [2] on the demand for money in Pakistan. Upon careful examination, I find that the AFMVY results are, in parts, misleading and that, on the whole, they add very little to those provided in my study. Nevertheless, the present exercise as well as the one by AFMVY is useful in that it furnishes us with an opportunity to view some of the fundamental problems involved in an empi¬rical analysis of the demand for money function in Pakistan. Based on their elaborate critique, AFMVY reformulate the two hypo¬theses—the substitution hypothesis and the complementarity hypothesis— underlying my study and provide us with some alternative estimates of the demand for money in Pakistan. Briefly their results, like those in my study, indicate that income and interest rates are important in deter¬mining the demand for money. However, unlike my results, they also suggest that the price variable is a highly significant determinant of the money demand function. Furthermore, while I found only a weak support for the complementarity between money demand and physical capital, the results obtained by AFMVY appear to yield a strong support for that rela¬tionship.1 The difference in results is only a natural consequence of alter¬native specifications of the theory and, therefore, I propose to devote most of this reply to the criticisms raised by AFMVY and the resulting reformulation of the two mypotheses.

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Characterization of Unfilled Tungsten Plugs on a 0.35μm CMOS Multilevel Metallization Process

ISTFA 1996: Conference Proceedings from the 22nd International Symposium for Testing and Failure Analysis ◽

10.31399/asm.cp.istfa1996p0141 ◽

1996 ◽

Author(s):

H. Sur ◽

S. Bothra ◽

Y. Strunk ◽

J. Hahn

Keyword(s):

Process Development ◽

Process Integration ◽

Wafer Level ◽

Electrical Failure ◽

Analysis Techniques ◽

Integration Approach ◽

Intermetal Dielectric ◽

Metallization Process ◽

Section Analysis

Abstract An investigation into metallization/interconnect failures during the process development phase of an advanced 0.35μm CMOS ASIC process is presented. The corresponding electrical failure signature was electrical shorting on SRAM test arrays and subsequently functional/Iddq failures on product-like test vehicles. Advanced wafer-level failure analysis techniques and equipment were used to isolate and identify the leakage source as shorting of metal lines due to tungsten (W) residue which was originating from unfilled vias. Further cross-section analysis revealed that the failing vias were all exposed to the intermetal dielectric spin-on glass (SOG) material used for filling the narrow spaces between metal lines. The outgassing of the SOG in the exposed regions of the via prior to and during the tungsten plug deposition is believed to be the cause of the unfilled vias. This analysis facilitated further process development in eliminating the failure mechanism and since then no failures of this nature have been observed. The process integration approach used to eliminate the failure is discussed.

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