id	sid	tid	token	lemma	pos
fbem-5276	1	1	frontiers	frontier	NOUN
fbem-5276	1	2	in	in	ADP
fbem-5276	1	3	business	business	NOUN
fbem-5276	1	4	,	,	PUNCT
fbem-5276	1	5	economics	economic	NOUN
fbem-5276	1	6	and	and	CCONJ
fbem-5276	1	7	management	management	NOUN
fbem-5276	1	8	issn	issn	PROPN
fbem-5276	1	9	:	:	PUNCT
fbem-5276	1	10	2766	2766	NUM
fbem-5276	1	11	-	-	PUNCT
fbem-5276	1	12	824x	824x	NUM
fbem-5276	1	13	|	|	ADJ
fbem-5276	1	14	vol	vol	NOUN
fbem-5276	1	15	.	.	PUNCT
fbem-5276	2	1	7	7	NUM
fbem-5276	2	2	,	,	PUNCT
fbem-5276	2	3	no	no	INTJ
fbem-5276	2	4	.	.	NOUN
fbem-5276	2	5	3	3	NUM
fbem-5276	2	6	,	,	PUNCT
fbem-5276	3	1	2023	2023	NUM
fbem-5276	3	2	46	46	NUM
fbem-5276	3	3	analysis	analysis	NOUN
fbem-5276	3	4	of	of	ADP
fbem-5276	3	5	the	the	DET
fbem-5276	3	6	impact	impact	NOUN
fbem-5276	3	7	of	of	ADP
fbem-5276	3	8	third‐party	third‐party	NOUN
fbem-5276	3	9	payment	payment	NOUN
fbem-5276	3	10	on	on	ADP
fbem-5276	3	11	currency	currency	NOUN
fbem-5276	3	12	demand	demand	NOUN
fbem-5276	3	13	qinyang	qinyang	PROPN
fbem-5276	3	14	yao	yao	PROPN
fbem-5276	3	15	jinan	jinan	PROPN
fbem-5276	3	16	university	university	PROPN
fbem-5276	3	17	,	,	PUNCT
fbem-5276	3	18	guangzhou	guangzhou	PROPN
fbem-5276	3	19	510632	510632	NUM
fbem-5276	3	20	,	,	PUNCT
fbem-5276	3	21	guangdong	guangdong	PROPN
fbem-5276	3	22	,	,	PUNCT
fbem-5276	3	23	china	china	PROPN
fbem-5276	3	24	abstract	abstract	PROPN
fbem-5276	3	25	:	:	PUNCT
fbem-5276	3	26	with	with	ADP
fbem-5276	3	27	the	the	DET
fbem-5276	3	28	rapid	rapid	ADJ
fbem-5276	3	29	popularization	popularization	NOUN
fbem-5276	3	30	of	of	ADP
fbem-5276	3	31	mobile	mobile	ADJ
fbem-5276	3	32	internet	internet	NOUN
fbem-5276	3	33	,	,	PUNCT
fbem-5276	3	34	mobile	mobile	ADJ
fbem-5276	3	35	offline	offline	ADJ
fbem-5276	3	36	third	third	ADJ
fbem-5276	3	37	-	-	PUNCT
fbem-5276	3	38	party	party	NOUN
fbem-5276	3	39	payment	payment	NOUN
fbem-5276	3	40	has	have	AUX
fbem-5276	3	41	penetrated	penetrate	VERB
fbem-5276	3	42	into	into	ADP
fbem-5276	3	43	all	all	DET
fbem-5276	3	44	aspects	aspect	NOUN
fbem-5276	3	45	of	of	ADP
fbem-5276	3	46	daily	daily	ADJ
fbem-5276	3	47	transactions	transaction	NOUN
fbem-5276	3	48	,	,	PUNCT
fbem-5276	3	49	and	and	CCONJ
fbem-5276	3	50	has	have	VERB
fbem-5276	3	51	a	a	DET
fbem-5276	3	52	profound	profound	ADJ
fbem-5276	3	53	impact	impact	NOUN
fbem-5276	3	54	on	on	ADP
fbem-5276	3	55	people	people	NOUN
fbem-5276	3	56	's	's	PART
fbem-5276	3	57	consumption	consumption	NOUN
fbem-5276	3	58	habits	habit	NOUN
fbem-5276	3	59	,	,	PUNCT
fbem-5276	3	60	payment	payment	NOUN
fbem-5276	3	61	methods	method	NOUN
fbem-5276	3	62	and	and	CCONJ
fbem-5276	3	63	original	original	ADJ
fbem-5276	3	64	financial	financial	ADJ
fbem-5276	3	65	management	management	NOUN
fbem-5276	3	66	concepts	concept	NOUN
fbem-5276	3	67	.	.	PUNCT
fbem-5276	4	1	according	accord	VERB
fbem-5276	4	2	to	to	ADP
fbem-5276	4	3	the	the	DET
fbem-5276	4	4	view	view	NOUN
fbem-5276	4	5	of	of	ADP
fbem-5276	4	6	network	network	NOUN
fbem-5276	4	7	economy	economy	NOUN
fbem-5276	4	8	in	in	ADP
fbem-5276	4	9	microeconomics	microeconomics	PROPN
fbem-5276	4	10	,	,	PUNCT
fbem-5276	4	11	the	the	DET
fbem-5276	4	12	growing	grow	VERB
fbem-5276	4	13	third	third	ADJ
fbem-5276	4	14	-	-	PUNCT
fbem-5276	4	15	party	party	NOUN
fbem-5276	4	16	mobile	mobile	ADJ
fbem-5276	4	17	payment	payment	NOUN
fbem-5276	4	18	has	have	AUX
fbem-5276	4	19	produced	produce	VERB
fbem-5276	4	20	considerable	considerable	ADJ
fbem-5276	4	21	positive	positive	ADJ
fbem-5276	4	22	network	network	NOUN
fbem-5276	4	23	externalities	externality	NOUN
fbem-5276	4	24	.	.	PUNCT
fbem-5276	5	1	with	with	ADP
fbem-5276	5	2	the	the	DET
fbem-5276	5	3	continuous	continuous	ADJ
fbem-5276	5	4	expansion	expansion	NOUN
fbem-5276	5	5	of	of	ADP
fbem-5276	5	6	payment	payment	NOUN
fbem-5276	5	7	scope	scope	NOUN
fbem-5276	5	8	,	,	PUNCT
fbem-5276	5	9	payment	payment	NOUN
fbem-5276	5	10	objects	object	NOUN
fbem-5276	5	11	have	have	AUX
fbem-5276	5	12	produced	produce	VERB
fbem-5276	5	13	economies	economy	NOUN
fbem-5276	5	14	of	of	ADP
fbem-5276	5	15	scale	scale	NOUN
fbem-5276	5	16	,	,	PUNCT
fbem-5276	5	17	and	and	CCONJ
fbem-5276	5	18	marginal	marginal	ADJ
fbem-5276	5	19	costs	cost	NOUN
fbem-5276	5	20	have	have	AUX
fbem-5276	5	21	fallen	fall	VERB
fbem-5276	5	22	,	,	PUNCT
fbem-5276	5	23	thus	thus	ADV
fbem-5276	5	24	obtaining	obtain	VERB
fbem-5276	5	25	considerable	considerable	ADJ
fbem-5276	5	26	competition	competition	NOUN
fbem-5276	5	27	.	.	PUNCT
fbem-5276	6	1	force	force	NOUN
fbem-5276	6	2	.	.	PUNCT
fbem-5276	7	1	as	as	ADP
fbem-5276	7	2	the	the	DET
fbem-5276	7	3	direct	direct	ADJ
fbem-5276	7	4	target	target	NOUN
fbem-5276	7	5	of	of	ADP
fbem-5276	7	6	third	third	ADJ
fbem-5276	7	7	-	-	PUNCT
fbem-5276	7	8	party	party	NOUN
fbem-5276	7	9	mobile	mobile	ADJ
fbem-5276	7	10	payment	payment	NOUN
fbem-5276	7	11	,	,	PUNCT
fbem-5276	7	12	cash	cash	NOUN
fbem-5276	7	13	is	be	AUX
fbem-5276	7	14	inevitably	inevitably	ADV
fbem-5276	7	15	replaced	replace	VERB
fbem-5276	7	16	.	.	PUNCT
fbem-5276	8	1	previous	previous	ADJ
fbem-5276	8	2	researches	research	NOUN
fbem-5276	8	3	usually	usually	ADV
fbem-5276	8	4	focused	focus	VERB
fbem-5276	8	5	on	on	ADP
fbem-5276	8	6	macroeconomic	macroeconomic	ADJ
fbem-5276	8	7	indicators	indicator	NOUN
fbem-5276	8	8	such	such	ADJ
fbem-5276	8	9	as	as	ADP
fbem-5276	8	10	currency	currency	NOUN
fbem-5276	8	11	creation	creation	NOUN
fbem-5276	8	12	multiplier	multipli	ADJ
fbem-5276	8	13	and	and	CCONJ
fbem-5276	8	14	cash	cash	NOUN
fbem-5276	8	15	leakage	leakage	NOUN
fbem-5276	8	16	rate	rate	NOUN
fbem-5276	8	17	for	for	ADP
fbem-5276	8	18	mobile	mobile	ADJ
fbem-5276	8	19	payment	payment	NOUN
fbem-5276	8	20	for	for	ADP
fbem-5276	8	21	macro	macro	ADJ
fbem-5276	8	22	analysis	analysis	NOUN
fbem-5276	8	23	.	.	PUNCT
fbem-5276	9	1	this	this	DET
fbem-5276	9	2	article	article	NOUN
fbem-5276	9	3	will	will	AUX
fbem-5276	9	4	analyze	analyze	VERB
fbem-5276	9	5	the	the	DET
fbem-5276	9	6	corresponding	corresponding	ADJ
fbem-5276	9	7	changes	change	NOUN
fbem-5276	9	8	in	in	ADP
fbem-5276	9	9	different	different	ADJ
fbem-5276	9	10	types	type	NOUN
fbem-5276	9	11	of	of	ADP
fbem-5276	9	12	currency	currency	NOUN
fbem-5276	9	13	demand	demand	NOUN
fbem-5276	9	14	under	under	ADP
fbem-5276	9	15	the	the	DET
fbem-5276	9	16	continuous	continuous	ADJ
fbem-5276	9	17	impact	impact	NOUN
fbem-5276	9	18	of	of	ADP
fbem-5276	9	19	third	third	ADJ
fbem-5276	9	20	-	-	PUNCT
fbem-5276	9	21	party	party	NOUN
fbem-5276	9	22	payment	payment	NOUN
fbem-5276	9	23	according	accord	VERB
fbem-5276	9	24	to	to	ADP
fbem-5276	9	25	the	the	DET
fbem-5276	9	26	classification	classification	NOUN
fbem-5276	9	27	of	of	ADP
fbem-5276	9	28	currency	currency	NOUN
fbem-5276	9	29	demand	demand	NOUN
fbem-5276	9	30	levels	level	NOUN
fbem-5276	9	31	,	,	PUNCT
fbem-5276	9	32	and	and	CCONJ
fbem-5276	9	33	explore	explore	VERB
fbem-5276	9	34	the	the	DET
fbem-5276	9	35	impact	impact	NOUN
fbem-5276	9	36	of	of	ADP
fbem-5276	9	37	the	the	DET
fbem-5276	9	38	resulting	result	VERB
fbem-5276	9	39	monetary	monetary	ADJ
fbem-5276	9	40	demand	demand	NOUN
fbem-5276	9	41	structure	structure	NOUN
fbem-5276	9	42	and	and	CCONJ
fbem-5276	9	43	the	the	DET
fbem-5276	9	44	impact	impact	NOUN
fbem-5276	9	45	on	on	ADP
fbem-5276	9	46	the	the	DET
fbem-5276	9	47	role	role	NOUN
fbem-5276	9	48	of	of	ADP
fbem-5276	9	49	macro	macro	ADJ
fbem-5276	9	50	monetary	monetary	ADJ
fbem-5276	9	51	policy	policy	NOUN
fbem-5276	9	52	.	.	PUNCT
fbem-5276	10	1	keywords	keyword	NOUN
fbem-5276	10	2	:	:	PUNCT
fbem-5276	10	3	third	third	ADJ
fbem-5276	10	4	-	-	PUNCT
fbem-5276	10	5	party	party	NOUN
fbem-5276	10	6	payment	payment	NOUN
fbem-5276	10	7	,	,	PUNCT
fbem-5276	10	8	currency	currency	NOUN
fbem-5276	10	9	demand	demand	NOUN
fbem-5276	10	10	hierarchy	hierarchy	NOUN
fbem-5276	10	11	,	,	PUNCT
fbem-5276	10	12	transactional	transactional	ADJ
fbem-5276	10	13	currency	currency	NOUN
fbem-5276	10	14	demand	demand	NOUN
fbem-5276	10	15	,	,	PUNCT
fbem-5276	10	16	speculative	speculative	ADJ
fbem-5276	10	17	currency	currency	NOUN
fbem-5276	10	18	demand	demand	NOUN
fbem-5276	10	19	.	.	PUNCT
fbem-5276	11	1	1	1	X
fbem-5276	11	2	.	.	X
fbem-5276	11	3	introduction	introduction	NOUN
fbem-5276	11	4	third	third	ADJ
fbem-5276	11	5	-	-	PUNCT
fbem-5276	11	6	party	party	NOUN
fbem-5276	11	7	payment	payment	NOUN
fbem-5276	11	8	was	be	AUX
fbem-5276	11	9	born	bear	VERB
fbem-5276	11	10	in	in	ADP
fbem-5276	11	11	my	my	PRON
fbem-5276	11	12	country	country	NOUN
fbem-5276	11	13	in	in	ADP
fbem-5276	11	14	2004	2004	NUM
fbem-5276	11	15	after	after	ADP
fbem-5276	11	16	the	the	DET
fbem-5276	11	17	"	"	PUNCT
fbem-5276	11	18	sars	sar	NOUN
fbem-5276	11	19	"	"	PUNCT
fbem-5276	11	20	pneumonia	pneumonia	NOUN
fbem-5276	11	21	.	.	PUNCT
fbem-5276	12	1	while	while	SCONJ
fbem-5276	12	2	the	the	DET
fbem-5276	12	3	epidemic	epidemic	NOUN
fbem-5276	12	4	restricted	restrict	VERB
fbem-5276	12	5	offline	offline	ADJ
fbem-5276	12	6	consumption	consumption	NOUN
fbem-5276	12	7	,	,	PUNCT
fbem-5276	12	8	it	it	PRON
fbem-5276	12	9	also	also	ADV
fbem-5276	12	10	promoted	promote	VERB
fbem-5276	12	11	consumers	consumer	NOUN
fbem-5276	12	12	'	'	PART
fbem-5276	12	13	recognition	recognition	NOUN
fbem-5276	12	14	of	of	ADP
fbem-5276	12	15	safe	safe	ADJ
fbem-5276	12	16	and	and	CCONJ
fbem-5276	12	17	efficient	efficient	ADJ
fbem-5276	12	18	third	third	ADJ
fbem-5276	12	19	-	-	PUNCT
fbem-5276	12	20	party	party	NOUN
fbem-5276	12	21	payment	payment	NOUN
fbem-5276	12	22	methods	method	NOUN
fbem-5276	12	23	.	.	PUNCT
fbem-5276	13	1	accompanying	accompany	VERB
fbem-5276	13	2	the	the	DET
fbem-5276	13	3	rapid	rapid	ADJ
fbem-5276	13	4	growth	growth	NOUN
fbem-5276	13	5	of	of	ADP
fbem-5276	13	6	transaction	transaction	NOUN
fbem-5276	13	7	volume	volume	NOUN
fbem-5276	13	8	is	be	AUX
fbem-5276	13	9	the	the	DET
fbem-5276	13	10	expansion	expansion	NOUN
fbem-5276	13	11	of	of	ADP
fbem-5276	13	12	the	the	DET
fbem-5276	13	13	scope	scope	NOUN
fbem-5276	13	14	of	of	ADP
fbem-5276	13	15	third	third	ADJ
fbem-5276	13	16	-	-	PUNCT
fbem-5276	13	17	party	party	NOUN
fbem-5276	13	18	payment	payment	NOUN
fbem-5276	13	19	users	user	NOUN
fbem-5276	13	20	in	in	ADP
fbem-5276	13	21	my	my	PRON
fbem-5276	13	22	country	country	NOUN
fbem-5276	13	23	.	.	PUNCT
fbem-5276	14	1	third	third	ADJ
fbem-5276	14	2	-	-	PUNCT
fbem-5276	14	3	party	party	NOUN
fbem-5276	14	4	payment	payment	NOUN
fbem-5276	14	5	,	,	PUNCT
fbem-5276	14	6	especially	especially	ADV
fbem-5276	14	7	third	third	ADJ
fbem-5276	14	8	-	-	PUNCT
fbem-5276	14	9	party	party	NOUN
fbem-5276	14	10	mobile	mobile	ADJ
fbem-5276	14	11	payment	payment	NOUN
fbem-5276	14	12	,	,	PUNCT
fbem-5276	14	13	has	have	AUX
fbem-5276	14	14	profoundly	profoundly	ADV
fbem-5276	14	15	changed	change	VERB
fbem-5276	14	16	the	the	DET
fbem-5276	14	17	consumption	consumption	NOUN
fbem-5276	14	18	behavior	behavior	NOUN
fbem-5276	14	19	of	of	ADP
fbem-5276	14	20	chinese	chinese	ADJ
fbem-5276	14	21	residents	resident	NOUN
fbem-5276	14	22	and	and	CCONJ
fbem-5276	14	23	the	the	DET
fbem-5276	14	24	proportion	proportion	NOUN
fbem-5276	14	25	of	of	ADP
fbem-5276	14	26	asset	asset	NOUN
fbem-5276	14	27	mix	mix	NOUN
fbem-5276	14	28	.	.	PUNCT
fbem-5276	15	1	among	among	ADP
fbem-5276	15	2	them	they	PRON
fbem-5276	15	3	,	,	PUNCT
fbem-5276	15	4	changes	change	NOUN
fbem-5276	15	5	in	in	ADP
fbem-5276	15	6	the	the	DET
fbem-5276	15	7	level	level	NOUN
fbem-5276	15	8	of	of	ADP
fbem-5276	15	9	money	money	NOUN
fbem-5276	15	10	demand	demand	NOUN
fbem-5276	15	11	will	will	AUX
fbem-5276	15	12	be	be	AUX
fbem-5276	15	13	directly	directly	ADV
fbem-5276	15	14	reflected	reflect	VERB
fbem-5276	15	15	in	in	ADP
fbem-5276	15	16	the	the	DET
fbem-5276	15	17	monetary	monetary	ADJ
fbem-5276	15	18	policy	policy	NOUN
fbem-5276	15	19	multiplier	multiplier	ADV
fbem-5276	15	20	and	and	CCONJ
fbem-5276	15	21	the	the	DET
fbem-5276	15	22	velocity	velocity	NOUN
fbem-5276	15	23	of	of	ADP
fbem-5276	15	24	money	money	NOUN
fbem-5276	15	25	circulation	circulation	NOUN
fbem-5276	15	26	,	,	PUNCT
fbem-5276	15	27	which	which	PRON
fbem-5276	15	28	will	will	AUX
fbem-5276	15	29	have	have	VERB
fbem-5276	15	30	an	an	DET
fbem-5276	15	31	impact	impact	NOUN
fbem-5276	15	32	on	on	ADP
fbem-5276	15	33	the	the	DET
fbem-5276	15	34	effect	effect	NOUN
fbem-5276	15	35	of	of	ADP
fbem-5276	15	36	my	my	PRON
fbem-5276	15	37	country	country	NOUN
fbem-5276	15	38	's	's	PART
fbem-5276	15	39	macroeconomic	macroeconomic	ADJ
fbem-5276	15	40	policies	policy	NOUN
fbem-5276	15	41	.	.	PUNCT
fbem-5276	16	1	therefore	therefore	ADV
fbem-5276	16	2	,	,	PUNCT
fbem-5276	16	3	it	it	PRON
fbem-5276	16	4	is	be	AUX
fbem-5276	16	5	necessary	necessary	ADJ
fbem-5276	16	6	to	to	PART
fbem-5276	16	7	systematically	systematically	ADV
fbem-5276	16	8	analyze	analyze	VERB
fbem-5276	16	9	the	the	DET
fbem-5276	16	10	mechanism	mechanism	NOUN
fbem-5276	16	11	and	and	CCONJ
fbem-5276	16	12	effect	effect	NOUN
fbem-5276	16	13	of	of	ADP
fbem-5276	16	14	third	third	ADJ
fbem-5276	16	15	-	-	PUNCT
fbem-5276	16	16	party	party	NOUN
fbem-5276	16	17	payment	payment	NOUN
fbem-5276	16	18	on	on	ADP
fbem-5276	16	19	the	the	DET
fbem-5276	16	20	level	level	NOUN
fbem-5276	16	21	of	of	ADP
fbem-5276	16	22	money	money	NOUN
fbem-5276	16	23	demand	demand	NOUN
fbem-5276	16	24	.	.	PUNCT
fbem-5276	17	1	the	the	DET
fbem-5276	17	2	theoretical	theoretical	ADJ
fbem-5276	17	3	principle	principle	NOUN
fbem-5276	17	4	of	of	ADP
fbem-5276	17	5	third	third	ADJ
fbem-5276	17	6	-	-	PUNCT
fbem-5276	17	7	party	party	NOUN
fbem-5276	17	8	payment	payment	NOUN
fbem-5276	17	9	determines	determine	VERB
fbem-5276	17	10	that	that	PRON
fbem-5276	17	11	it	it	PRON
fbem-5276	17	12	has	have	AUX
fbem-5276	17	13	had	have	VERB
fbem-5276	17	14	a	a	DET
fbem-5276	17	15	profound	profound	ADJ
fbem-5276	17	16	impact	impact	NOUN
fbem-5276	17	17	on	on	ADP
fbem-5276	17	18	the	the	DET
fbem-5276	17	19	field	field	NOUN
fbem-5276	17	20	of	of	ADP
fbem-5276	17	21	currency	currency	NOUN
fbem-5276	17	22	demand	demand	NOUN
fbem-5276	17	23	.	.	PUNCT
fbem-5276	18	1	first	first	ADV
fbem-5276	18	2	of	of	ADP
fbem-5276	18	3	all	all	PRON
fbem-5276	18	4	,	,	PUNCT
fbem-5276	18	5	compared	compare	VERB
fbem-5276	18	6	with	with	ADP
fbem-5276	18	7	traditional	traditional	ADJ
fbem-5276	18	8	cash	cash	NOUN
fbem-5276	18	9	payment	payment	NOUN
fbem-5276	18	10	,	,	PUNCT
fbem-5276	18	11	third	third	ADJ
fbem-5276	18	12	-	-	PUNCT
fbem-5276	18	13	party	party	NOUN
fbem-5276	18	14	payment	payment	NOUN
fbem-5276	18	15	has	have	VERB
fbem-5276	18	16	lower	low	ADJ
fbem-5276	18	17	transaction	transaction	NOUN
fbem-5276	18	18	costs	cost	NOUN
fbem-5276	18	19	and	and	CCONJ
fbem-5276	18	20	more	more	ADV
fbem-5276	18	21	convenient	convenient	ADJ
fbem-5276	18	22	and	and	CCONJ
fbem-5276	18	23	comfortable	comfortable	ADJ
fbem-5276	18	24	transaction	transaction	NOUN
fbem-5276	18	25	experience	experience	NOUN
fbem-5276	18	26	,	,	PUNCT
fbem-5276	18	27	which	which	PRON
fbem-5276	18	28	brings	bring	VERB
fbem-5276	18	29	a	a	DET
fbem-5276	18	30	substitute	substitute	NOUN
fbem-5276	18	31	for	for	ADP
fbem-5276	18	32	traditional	traditional	ADJ
fbem-5276	18	33	cash	cash	NOUN
fbem-5276	18	34	transactions	transaction	NOUN
fbem-5276	18	35	,	,	PUNCT
fbem-5276	18	36	that	that	ADV
fbem-5276	18	37	is	is	ADV
fbem-5276	18	38	,	,	PUNCT
fbem-5276	18	39	reduces	reduce	VERB
fbem-5276	18	40	the	the	DET
fbem-5276	18	41	transactional	transactional	ADJ
fbem-5276	18	42	currency	currency	NOUN
fbem-5276	18	43	demand	demand	NOUN
fbem-5276	18	44	in	in	ADP
fbem-5276	18	45	currency	currency	NOUN
fbem-5276	18	46	demand	demand	NOUN
fbem-5276	18	47	.	.	PUNCT
fbem-5276	19	1	secondly	secondly	ADV
fbem-5276	19	2	,	,	PUNCT
fbem-5276	19	3	the	the	DET
fbem-5276	19	4	rapid	rapid	ADJ
fbem-5276	19	5	development	development	NOUN
fbem-5276	19	6	of	of	ADP
fbem-5276	19	7	third	third	ADJ
fbem-5276	19	8	-	-	PUNCT
fbem-5276	19	9	party	party	NOUN
fbem-5276	19	10	payment	payment	NOUN
fbem-5276	19	11	,	,	PUNCT
fbem-5276	19	12	especially	especially	ADV
fbem-5276	19	13	the	the	DET
fbem-5276	19	14	rapid	rapid	ADJ
fbem-5276	19	15	development	development	NOUN
fbem-5276	19	16	of	of	ADP
fbem-5276	19	17	its	its	PRON
fbem-5276	19	18	third	third	ADJ
fbem-5276	19	19	-	-	PUNCT
fbem-5276	19	20	party	party	NOUN
fbem-5276	19	21	mobile	mobile	ADJ
fbem-5276	19	22	payment	payment	NOUN
fbem-5276	19	23	,	,	PUNCT
fbem-5276	19	24	has	have	AUX
fbem-5276	19	25	significantly	significantly	ADV
fbem-5276	19	26	strengthened	strengthen	VERB
fbem-5276	19	27	the	the	DET
fbem-5276	19	28	liquidity	liquidity	NOUN
fbem-5276	19	29	of	of	ADP
fbem-5276	19	30	financial	financial	ADJ
fbem-5276	19	31	assets	asset	NOUN
fbem-5276	19	32	represented	represent	VERB
fbem-5276	19	33	by	by	ADP
fbem-5276	19	34	commercial	commercial	ADJ
fbem-5276	19	35	bank	bank	NOUN
fbem-5276	19	36	demand	demand	NOUN
fbem-5276	19	37	deposits	deposit	NOUN
fbem-5276	19	38	,	,	PUNCT
fbem-5276	19	39	clarifying	clarify	VERB
fbem-5276	19	40	the	the	DET
fbem-5276	19	41	level	level	NOUN
fbem-5276	19	42	of	of	ADP
fbem-5276	19	43	currency	currency	NOUN
fbem-5276	19	44	demand	demand	NOUN
fbem-5276	19	45	for	for	ADP
fbem-5276	19	46	thirdparty	thirdparty	NOUN
fbem-5276	19	47	payment	payment	NOUN
fbem-5276	19	48	undoubtedly	undoubtedly	ADV
fbem-5276	19	49	,	,	PUNCT
fbem-5276	19	50	it	it	PRON
fbem-5276	19	51	has	have	VERB
fbem-5276	19	52	strong	strong	ADJ
fbem-5276	19	53	practical	practical	ADJ
fbem-5276	19	54	and	and	CCONJ
fbem-5276	19	55	theoretical	theoretical	ADJ
fbem-5276	19	56	significance	significance	NOUN
fbem-5276	19	57	.	.	PUNCT
fbem-5276	20	1	2	2	X
fbem-5276	20	2	.	.	X
fbem-5276	20	3	theoretical	theoretical	ADJ
fbem-5276	20	4	analysis	analysis	NOUN
fbem-5276	20	5	most	most	ADJ
fbem-5276	20	6	of	of	ADP
fbem-5276	20	7	the	the	DET
fbem-5276	20	8	previous	previous	ADJ
fbem-5276	20	9	studies	study	NOUN
fbem-5276	20	10	used	use	VERB
fbem-5276	20	11	money	money	NOUN
fbem-5276	20	12	supply	supply	NOUN
fbem-5276	20	13	as	as	ADP
fbem-5276	20	14	a	a	DET
fbem-5276	20	15	substitute	substitute	ADJ
fbem-5276	20	16	variable	variable	NOUN
fbem-5276	20	17	for	for	ADP
fbem-5276	20	18	money	money	NOUN
fbem-5276	20	19	demand	demand	NOUN
fbem-5276	20	20	.	.	PUNCT
fbem-5276	21	1	because	because	SCONJ
fbem-5276	21	2	money	money	NOUN
fbem-5276	21	3	demand	demand	NOUN
fbem-5276	21	4	is	be	AUX
fbem-5276	21	5	not	not	PART
fbem-5276	21	6	easy	easy	ADJ
fbem-5276	21	7	to	to	PART
fbem-5276	21	8	measure	measure	VERB
fbem-5276	21	9	directly	directly	ADV
fbem-5276	21	10	.	.	PUNCT
fbem-5276	22	1	the	the	DET
fbem-5276	22	2	quantity	quantity	NOUN
fbem-5276	22	3	of	of	ADP
fbem-5276	22	4	money	money	NOUN
fbem-5276	22	5	equation	equation	NOUN
fbem-5276	22	6	proposed	propose	VERB
fbem-5276	22	7	by	by	ADP
fbem-5276	22	8	irving	irving	PROPN
fbem-5276	22	9	fisher	fisher	PROPN
fbem-5276	22	10	explains	explain	VERB
fbem-5276	22	11	the	the	DET
fbem-5276	22	12	relationship	relationship	NOUN
fbem-5276	22	13	between	between	ADP
fbem-5276	22	14	the	the	DET
fbem-5276	22	15	quantity	quantity	NOUN
fbem-5276	22	16	of	of	ADP
fbem-5276	22	17	money	money	NOUN
fbem-5276	22	18	,	,	PUNCT
fbem-5276	22	19	the	the	DET
fbem-5276	22	20	velocity	velocity	NOUN
fbem-5276	22	21	of	of	ADP
fbem-5276	22	22	money	money	NOUN
fbem-5276	22	23	,	,	PUNCT
fbem-5276	22	24	the	the	DET
fbem-5276	22	25	general	general	ADJ
fbem-5276	22	26	price	price	NOUN
fbem-5276	22	27	level	level	NOUN
fbem-5276	22	28	,	,	PUNCT
fbem-5276	22	29	and	and	CCONJ
fbem-5276	22	30	the	the	DET
fbem-5276	22	31	total	total	ADJ
fbem-5276	22	32	amount	amount	NOUN
fbem-5276	22	33	of	of	ADP
fbem-5276	22	34	transactions	transaction	NOUN
fbem-5276	22	35	.	.	PUNCT
fbem-5276	22	36	  	  	SPACE
fbem-5276	23	1	mv	mv	PROPN
fbem-5276	23	2	pt	pt	PROPN
fbem-5276	23	3	  	  	SPACE
fbem-5276	23	4	m	m	NOUN
fbem-5276	23	5	is	be	AUX
fbem-5276	23	6	the	the	DET
fbem-5276	23	7	amount	amount	NOUN
fbem-5276	23	8	of	of	ADP
fbem-5276	23	9	money	money	NOUN
fbem-5276	23	10	in	in	ADP
fbem-5276	23	11	circulation	circulation	NOUN
fbem-5276	23	12	,	,	PUNCT
fbem-5276	23	13	v	v	NOUN
fbem-5276	23	14	is	be	AUX
fbem-5276	23	15	the	the	DET
fbem-5276	23	16	velocity	velocity	NOUN
fbem-5276	23	17	of	of	ADP
fbem-5276	23	18	money	money	NOUN
fbem-5276	23	19	circulation	circulation	NOUN
fbem-5276	23	20	,	,	PUNCT
fbem-5276	23	21	p	p	NOUN
fbem-5276	23	22	is	be	AUX
fbem-5276	23	23	the	the	DET
fbem-5276	23	24	general	general	ADJ
fbem-5276	23	25	price	price	NOUN
fbem-5276	23	26	level	level	NOUN
fbem-5276	23	27	,	,	PUNCT
fbem-5276	23	28	and	and	CCONJ
fbem-5276	23	29	t	t	PROPN
fbem-5276	23	30	is	be	AUX
fbem-5276	23	31	the	the	DET
fbem-5276	23	32	total	total	ADJ
fbem-5276	23	33	amount	amount	NOUN
fbem-5276	23	34	of	of	ADP
fbem-5276	23	35	transactions	transaction	NOUN
fbem-5276	23	36	in	in	ADP
fbem-5276	23	37	society	society	NOUN
fbem-5276	23	38	.	.	PUNCT
fbem-5276	24	1	fisher	fisher	PROPN
fbem-5276	24	2	believes	believe	VERB
fbem-5276	24	3	that	that	SCONJ
fbem-5276	24	4	in	in	ADP
fbem-5276	24	5	the	the	DET
fbem-5276	24	6	short	short	ADJ
fbem-5276	24	7	term	term	NOUN
fbem-5276	24	8	,	,	PUNCT
fbem-5276	24	9	the	the	DET
fbem-5276	24	10	velocity	velocity	NOUN
fbem-5276	24	11	of	of	ADP
fbem-5276	24	12	money	money	NOUN
fbem-5276	24	13	circulates	circulate	VERB
fbem-5276	24	14	little	little	ADJ
fbem-5276	24	15	or	or	CCONJ
fbem-5276	24	16	even	even	ADV
fbem-5276	24	17	does	do	AUX
fbem-5276	24	18	not	not	PART
fbem-5276	24	19	change	change	VERB
fbem-5276	24	20	.	.	PUNCT
fbem-5276	25	1	therefore	therefore	ADV
fbem-5276	25	2	,	,	PUNCT
fbem-5276	25	3	there	there	PRON
fbem-5276	25	4	is	be	VERB
fbem-5276	25	5	a	a	DET
fbem-5276	25	6	direct	direct	ADJ
fbem-5276	25	7	proportional	proportional	ADJ
fbem-5276	25	8	relationship	relationship	NOUN
fbem-5276	25	9	between	between	ADP
fbem-5276	25	10	the	the	DET
fbem-5276	25	11	money	money	NOUN
fbem-5276	25	12	supply	supply	NOUN
fbem-5276	25	13	in	in	ADP
fbem-5276	25	14	circulation	circulation	NOUN
fbem-5276	25	15	and	and	CCONJ
fbem-5276	25	16	the	the	DET
fbem-5276	25	17	price	price	NOUN
fbem-5276	25	18	level	level	NOUN
fbem-5276	25	19	and	and	CCONJ
fbem-5276	25	20	the	the	DET
fbem-5276	25	21	transaction	transaction	NOUN
fbem-5276	25	22	volume	volume	NOUN
fbem-5276	25	23	in	in	ADP
fbem-5276	25	24	society	society	NOUN
fbem-5276	25	25	:	:	PUNCT
fbem-5276	25	26	m	m	VERB
fbem-5276	25	27	pt	pt	INTJ
fbem-5276	25	28	v	v	NOUN
fbem-5276	25	29	  	  	SPACE
fbem-5276	25	30	the	the	DET
fbem-5276	25	31	total	total	ADJ
fbem-5276	25	32	amount	amount	NOUN
fbem-5276	25	33	of	of	ADP
fbem-5276	25	34	transactions	transaction	NOUN
fbem-5276	25	35	in	in	ADP
fbem-5276	25	36	society	society	NOUN
fbem-5276	25	37	within	within	ADP
fbem-5276	25	38	a	a	DET
fbem-5276	25	39	certain	certain	ADJ
fbem-5276	25	40	period	period	NOUN
fbem-5276	25	41	of	of	ADP
fbem-5276	25	42	time	time	NOUN
fbem-5276	25	43	is	be	AUX
fbem-5276	25	44	directly	directly	ADV
fbem-5276	25	45	reflected	reflect	VERB
fbem-5276	25	46	by	by	ADP
fbem-5276	25	47	the	the	DET
fbem-5276	25	48	national	national	ADJ
fbem-5276	25	49	income	income	NOUN
fbem-5276	25	50	.	.	PUNCT
fbem-5276	26	1	in	in	ADP
fbem-5276	26	2	the	the	DET
fbem-5276	26	3	short	short	ADJ
fbem-5276	26	4	term	term	NOUN
fbem-5276	26	5	,	,	PUNCT
fbem-5276	26	6	according	accord	VERB
fbem-5276	26	7	to	to	ADP
fbem-5276	26	8	the	the	DET
fbem-5276	26	9	keynesian	keynesian	ADJ
fbem-5276	26	10	point	point	NOUN
fbem-5276	26	11	of	of	ADP
fbem-5276	26	12	view	view	NOUN
fbem-5276	26	13	,	,	PUNCT
fbem-5276	26	14	the	the	DET
fbem-5276	26	15	price	price	NOUN
fbem-5276	26	16	is	be	AUX
fbem-5276	26	17	rigid	rigid	ADJ
fbem-5276	26	18	,	,	PUNCT
fbem-5276	26	19	so	so	CCONJ
fbem-5276	26	20	there	there	PRON
fbem-5276	26	21	is	be	VERB
fbem-5276	26	22	a	a	DET
fbem-5276	26	23	certain	certain	ADJ
fbem-5276	26	24	proportional	proportional	ADJ
fbem-5276	26	25	relationship	relationship	NOUN
fbem-5276	26	26	between	between	ADP
fbem-5276	26	27	the	the	DET
fbem-5276	26	28	total	total	ADJ
fbem-5276	26	29	amount	amount	NOUN
fbem-5276	26	30	of	of	ADP
fbem-5276	26	31	transactions	transaction	NOUN
fbem-5276	26	32	in	in	ADP
fbem-5276	26	33	society	society	NOUN
fbem-5276	26	34	and	and	CCONJ
fbem-5276	26	35	the	the	DET
fbem-5276	26	36	total	total	ADJ
fbem-5276	26	37	amount	amount	NOUN
fbem-5276	26	38	of	of	ADP
fbem-5276	26	39	money	money	NOUN
fbem-5276	26	40	.	.	PUNCT
fbem-5276	27	1	according	accord	VERB
fbem-5276	27	2	to	to	ADP
fbem-5276	27	3	this	this	PRON
fbem-5276	27	4	,	,	PUNCT
fbem-5276	27	5	it	it	PRON
fbem-5276	27	6	can	can	AUX
fbem-5276	27	7	be	be	AUX
fbem-5276	27	8	seen	see	VERB
fbem-5276	27	9	that	that	SCONJ
fbem-5276	27	10	there	there	PRON
fbem-5276	27	11	is	be	VERB
fbem-5276	27	12	a	a	DET
fbem-5276	27	13	corresponding	corresponding	ADJ
fbem-5276	27	14	proportional	proportional	ADJ
fbem-5276	27	15	relationship	relationship	NOUN
fbem-5276	27	16	between	between	ADP
fbem-5276	27	17	the	the	DET
fbem-5276	27	18	total	total	ADJ
fbem-5276	27	19	currency	currency	NOUN
fbem-5276	27	20	volume	volume	NOUN
fbem-5276	27	21	when	when	SCONJ
fbem-5276	27	22	the	the	DET
fbem-5276	27	23	national	national	ADJ
fbem-5276	27	24	income	income	NOUN
fbem-5276	27	25	is	be	AUX
fbem-5276	27	26	relatively	relatively	ADV
fbem-5276	27	27	stable	stable	ADJ
fbem-5276	27	28	at	at	ADP
fbem-5276	27	29	the	the	DET
fbem-5276	27	30	price	price	NOUN
fbem-5276	27	31	level	level	NOUN
fbem-5276	27	32	:	:	PUNCT
fbem-5276	27	33	y	y	PROPN
fbem-5276	27	34	mv	mv	PROPN
fbem-5276	28	1	p	p	X
fbem-5276	28	2	  	  	SPACE
fbem-5276	28	3	if	if	SCONJ
fbem-5276	28	4	the	the	DET
fbem-5276	28	5	price	price	NOUN
fbem-5276	28	6	level	level	NOUN
fbem-5276	28	7	itself	itself	PRON
fbem-5276	28	8	is	be	AUX
fbem-5276	28	9	sticky	sticky	ADJ
fbem-5276	28	10	or	or	CCONJ
fbem-5276	28	11	elastic	elastic	ADJ
fbem-5276	28	12	,	,	PUNCT
fbem-5276	28	13	this	this	DET
fbem-5276	28	14	formula	formula	NOUN
fbem-5276	28	15	needs	need	VERB
fbem-5276	28	16	to	to	PART
fbem-5276	28	17	be	be	AUX
fbem-5276	28	18	further	far	ADV
fbem-5276	28	19	transformed	transform	VERB
fbem-5276	28	20	into	into	ADP
fbem-5276	28	21	the	the	DET
fbem-5276	28	22	relationship	relationship	NOUN
fbem-5276	28	23	between	between	ADP
fbem-5276	28	24	nominal	nominal	ADJ
fbem-5276	28	25	national	national	ADJ
fbem-5276	28	26	income	income	NOUN
fbem-5276	28	27	and	and	CCONJ
fbem-5276	28	28	money	money	NOUN
fbem-5276	28	29	supply	supply	NOUN
fbem-5276	28	30	:	:	PUNCT
fbem-5276	28	31	py	py	PROPN
fbem-5276	28	32	mv	mv	PROPN
fbem-5276	28	33	  	  	SPACE
fbem-5276	28	34	an	an	DET
fbem-5276	28	35	important	important	ADJ
fbem-5276	28	36	variable	variable	NOUN
fbem-5276	28	37	to	to	ADP
fbem-5276	28	38	what	what	DET
fbem-5276	28	39	extent	extent	NOUN
fbem-5276	28	40	the	the	DET
fbem-5276	28	41	money	money	NOUN
fbem-5276	28	42	supply	supply	NOUN
fbem-5276	28	43	affects	affect	VERB
fbem-5276	28	44	nominal	nominal	ADJ
fbem-5276	28	45	national	national	ADJ
fbem-5276	28	46	income	income	NOUN
fbem-5276	28	47	is	be	AUX
fbem-5276	28	48	the	the	DET
fbem-5276	28	49	velocity	velocity	NOUN
fbem-5276	28	50	of	of	ADP
fbem-5276	28	51	currency	currency	NOUN
fbem-5276	28	52	circulation	circulation	NOUN
fbem-5276	28	53	.	.	PUNCT
fbem-5276	29	1	according	accord	VERB
fbem-5276	29	2	to	to	ADP
fbem-5276	29	3	previous	previous	ADJ
fbem-5276	29	4	theoretical	theoretical	ADJ
fbem-5276	29	5	research	research	NOUN
fbem-5276	29	6	results	result	NOUN
fbem-5276	29	7	,	,	PUNCT
fbem-5276	29	8	the	the	DET
fbem-5276	29	9	development	development	NOUN
fbem-5276	29	10	of	of	ADP
fbem-5276	29	11	third	third	ADJ
fbem-5276	29	12	-	-	PUNCT
fbem-5276	29	13	party	party	NOUN
fbem-5276	29	14	payment	payment	NOUN
fbem-5276	29	15	has	have	VERB
fbem-5276	29	16	a	a	DET
fbem-5276	29	17	double	double	ADJ
fbem-5276	29	18	impact	impact	NOUN
fbem-5276	29	19	on	on	ADP
fbem-5276	29	20	the	the	DET
fbem-5276	29	21	velocity	velocity	NOUN
fbem-5276	29	22	of	of	ADP
fbem-5276	29	23	currency	currency	NOUN
fbem-5276	29	24	circulation	circulation	NOUN
fbem-5276	29	25	.	.	PUNCT
fbem-5276	30	1	on	on	ADP
fbem-5276	30	2	the	the	DET
fbem-5276	30	3	one	one	NUM
fbem-5276	30	4	hand	hand	NOUN
fbem-5276	30	5	,	,	PUNCT
fbem-5276	30	6	it	it	PRON
fbem-5276	30	7	reduces	reduce	VERB
fbem-5276	30	8	transactionality	transactionality	NOUN
fbem-5276	30	9	.	.	PUNCT
fbem-5276	31	1	currency	currency	NOUN
fbem-5276	31	2	expenditure	expenditure	NOUN
fbem-5276	31	3	thus	thus	ADV
fbem-5276	31	4	reduces	reduce	VERB
fbem-5276	31	5	the	the	DET
fbem-5276	31	6	velocity	velocity	NOUN
fbem-5276	31	7	of	of	ADP
fbem-5276	31	8	currency	currency	NOUN
fbem-5276	31	9	circulation	circulation	NOUN
fbem-5276	31	10	,	,	PUNCT
fbem-5276	31	11	but	but	CCONJ
fbem-5276	31	12	on	on	ADP
fbem-5276	31	13	the	the	DET
fbem-5276	31	14	other	other	ADJ
fbem-5276	31	15	hand	hand	NOUN
fbem-5276	31	16	,	,	PUNCT
fbem-5276	31	17	third	third	ADJ
fbem-5276	31	18	-	-	PUNCT
fbem-5276	31	19	party	party	NOUN
fbem-5276	31	20	payment	payment	NOUN
fbem-5276	31	21	reduces	reduce	VERB
fbem-5276	31	22	the	the	DET
fbem-5276	31	23	cost	cost	NOUN
fbem-5276	31	24	of	of	ADP
fbem-5276	31	25	withdrawals	withdrawal	NOUN
fbem-5276	31	26	,	,	PUNCT
fbem-5276	31	27	which	which	PRON
fbem-5276	31	28	increases	increase	VERB
fbem-5276	31	29	speculative	speculative	ADJ
fbem-5276	31	30	motives	motive	NOUN
fbem-5276	31	31	and	and	CCONJ
fbem-5276	31	32	preventive	preventive	ADJ
fbem-5276	31	33	motives	motive	NOUN
fbem-5276	31	34	,	,	PUNCT
fbem-5276	31	35	and	and	CCONJ
fbem-5276	31	36	increases	increase	VERB
fbem-5276	31	37	the	the	DET
fbem-5276	31	38	velocity	velocity	NOUN
fbem-5276	31	39	of	of	ADP
fbem-5276	31	40	currency	currency	NOUN
fbem-5276	31	41	itself	itself	PRON
fbem-5276	31	42	.	.	PUNCT
fbem-5276	32	1	therefore	therefore	ADV
fbem-5276	32	2	,	,	PUNCT
fbem-5276	32	3	it	it	PRON
fbem-5276	32	4	is	be	AUX
fbem-5276	32	5	necessary	necessary	ADJ
fbem-5276	32	6	to	to	PART
fbem-5276	32	7	analyze	analyze	VERB
fbem-5276	32	8	the	the	DET
fbem-5276	32	9	impact	impact	NOUN
fbem-5276	32	10	of	of	ADP
fbem-5276	32	11	the	the	DET
fbem-5276	32	12	third	third	ADJ
fbem-5276	32	13	payment	payment	NOUN
fbem-5276	32	14	from	from	ADP
fbem-5276	32	15	the	the	DET
fbem-5276	32	16	perspective	perspective	NOUN
fbem-5276	32	17	of	of	ADP
fbem-5276	32	18	money	money	NOUN
fbem-5276	32	19	demand	demand	NOUN
fbem-5276	32	20	.	.	PUNCT
fbem-5276	33	1	47	47	NUM
fbem-5276	33	2	2.1	2.1	NUM
fbem-5276	33	3	.	.	PUNCT
fbem-5276	33	4	analysis	analysis	NOUN
fbem-5276	33	5	based	base	VERB
fbem-5276	33	6	on	on	ADP
fbem-5276	33	7	keynesianism	keynesianism	PROPN
fbem-5276	33	8	keynes	keynes	PROPN
fbem-5276	33	9	'	'	PART
fbem-5276	33	10	money	money	NOUN
fbem-5276	33	11	demand	demand	NOUN
fbem-5276	33	12	function	function	NOUN
fbem-5276	33	13	is	be	AUX
fbem-5276	33	14	:	:	PUNCT
fbem-5276	33	15	l	l	PROPN
fbem-5276	33	16	ky	ky	PROPN
fbem-5276	33	17	hr	hr	PROPN
fbem-5276	33	18	keynes	keynes	PROPN
fbem-5276	33	19	believed	believe	VERB
fbem-5276	33	20	that	that	SCONJ
fbem-5276	33	21	money	money	NOUN
fbem-5276	33	22	demand	demand	NOUN
fbem-5276	33	23	can	can	AUX
fbem-5276	33	24	be	be	AUX
fbem-5276	33	25	divided	divide	VERB
fbem-5276	33	26	into	into	ADP
fbem-5276	33	27	three	three	NUM
fbem-5276	33	28	levels	level	NOUN
fbem-5276	33	29	:	:	PUNCT
fbem-5276	33	30	transactional	transactional	ADJ
fbem-5276	33	31	money	money	NOUN
fbem-5276	33	32	demand	demand	NOUN
fbem-5276	33	33	,	,	PUNCT
fbem-5276	33	34	precautionary	precautionary	ADJ
fbem-5276	33	35	money	money	NOUN
fbem-5276	33	36	demand	demand	NOUN
fbem-5276	33	37	,	,	PUNCT
fbem-5276	33	38	and	and	CCONJ
fbem-5276	33	39	speculative	speculative	ADJ
fbem-5276	33	40	money	money	NOUN
fbem-5276	33	41	demand	demand	NOUN
fbem-5276	33	42	.	.	PUNCT
fbem-5276	34	1	among	among	ADP
fbem-5276	34	2	them	they	PRON
fbem-5276	34	3	,	,	PUNCT
fbem-5276	34	4	the	the	DET
fbem-5276	34	5	demand	demand	NOUN
fbem-5276	34	6	for	for	ADP
fbem-5276	34	7	transactional	transactional	ADJ
fbem-5276	34	8	money	money	NOUN
fbem-5276	34	9	and	and	CCONJ
fbem-5276	34	10	the	the	DET
fbem-5276	34	11	demand	demand	NOUN
fbem-5276	34	12	for	for	ADP
fbem-5276	34	13	preventive	preventive	ADJ
fbem-5276	34	14	money	money	NOUN
fbem-5276	34	15	are	be	AUX
fbem-5276	34	16	directly	directly	ADV
fbem-5276	34	17	related	relate	VERB
fbem-5276	34	18	to	to	ADP
fbem-5276	34	19	income	income	NOUN
fbem-5276	34	20	.	.	PUNCT
fbem-5276	35	1	with	with	ADP
fbem-5276	35	2	the	the	DET
fbem-5276	35	3	rise	rise	NOUN
fbem-5276	35	4	of	of	ADP
fbem-5276	35	5	income	income	NOUN
fbem-5276	35	6	,	,	PUNCT
fbem-5276	35	7	consumers	consumer	NOUN
fbem-5276	35	8	'	'	PART
fbem-5276	35	9	money	money	NOUN
fbem-5276	35	10	expenditures	expenditure	NOUN
fbem-5276	35	11	for	for	ADP
fbem-5276	35	12	transactional	transactional	ADJ
fbem-5276	35	13	and	and	CCONJ
fbem-5276	35	14	speculative	speculative	ADJ
fbem-5276	35	15	purposes	purpose	NOUN
fbem-5276	35	16	are	be	AUX
fbem-5276	35	17	on	on	ADP
fbem-5276	35	18	the	the	DET
fbem-5276	35	19	rise	rise	NOUN
fbem-5276	35	20	.	.	PUNCT
fbem-5276	36	1	the	the	DET
fbem-5276	36	2	speculative	speculative	ADJ
fbem-5276	36	3	demand	demand	NOUN
fbem-5276	36	4	for	for	ADP
fbem-5276	36	5	money	money	NOUN
fbem-5276	36	6	is	be	AUX
fbem-5276	36	7	directly	directly	ADV
fbem-5276	36	8	inversely	inversely	ADV
fbem-5276	36	9	related	relate	VERB
fbem-5276	36	10	to	to	ADP
fbem-5276	36	11	the	the	DET
fbem-5276	36	12	interest	interest	NOUN
fbem-5276	36	13	rate	rate	NOUN
fbem-5276	36	14	.	.	PUNCT
fbem-5276	37	1	the	the	DET
fbem-5276	37	2	underlying	underlying	ADJ
fbem-5276	37	3	principle	principle	NOUN
fbem-5276	37	4	is	be	AUX
fbem-5276	37	5	that	that	SCONJ
fbem-5276	37	6	the	the	DET
fbem-5276	37	7	interest	interest	NOUN
fbem-5276	37	8	rate	rate	NOUN
fbem-5276	37	9	is	be	AUX
fbem-5276	37	10	a	a	DET
fbem-5276	37	11	price	price	NOUN
fbem-5276	37	12	for	for	ADP
fbem-5276	37	13	selling	sell	VERB
fbem-5276	37	14	currency	currency	NOUN
fbem-5276	37	15	liquidity	liquidity	NOUN
fbem-5276	37	16	.	.	PUNCT
fbem-5276	38	1	the	the	PRON
fbem-5276	38	2	higher	high	ADJ
fbem-5276	38	3	the	the	DET
fbem-5276	38	4	interest	interest	NOUN
fbem-5276	38	5	rate	rate	NOUN
fbem-5276	38	6	,	,	PUNCT
fbem-5276	38	7	the	the	PRON
fbem-5276	38	8	greater	great	ADJ
fbem-5276	38	9	the	the	DET
fbem-5276	38	10	opportunity	opportunity	NOUN
fbem-5276	38	11	cost	cost	NOUN
fbem-5276	38	12	of	of	ADP
fbem-5276	38	13	speculative	speculative	ADJ
fbem-5276	38	14	activities	activity	NOUN
fbem-5276	38	15	.	.	PUNCT
fbem-5276	39	1	2.2	2.2	NUM
fbem-5276	39	2	.	.	PUNCT
fbem-5276	39	3	analysis	analysis	NOUN
fbem-5276	39	4	based	base	VERB
fbem-5276	39	5	on	on	ADP
fbem-5276	39	6	the	the	DET
fbem-5276	39	7	new	new	ADJ
fbem-5276	39	8	quantity	quantity	NOUN
fbem-5276	39	9	theory	theory	NOUN
fbem-5276	39	10	of	of	ADP
fbem-5276	39	11	money	money	NOUN
fbem-5276	39	12	friedman	friedman	PROPN
fbem-5276	39	13	believed	believe	VERB
fbem-5276	39	14	that	that	SCONJ
fbem-5276	39	15	irving	irving	PROPN
fbem-5276	39	16	fisher	fisher	PROPN
fbem-5276	39	17	's	's	PART
fbem-5276	39	18	equation	equation	NOUN
fbem-5276	39	19	,	,	PUNCT
fbem-5276	39	20	which	which	PRON
fbem-5276	39	21	simply	simply	ADV
fbem-5276	39	22	related	relate	VERB
fbem-5276	39	23	the	the	DET
fbem-5276	39	24	quantity	quantity	NOUN
fbem-5276	39	25	of	of	ADP
fbem-5276	39	26	money	money	NOUN
fbem-5276	39	27	to	to	PART
fbem-5276	39	28	output	output	VERB
fbem-5276	39	29	and	and	CCONJ
fbem-5276	39	30	price	price	NOUN
fbem-5276	39	31	equivalently	equivalently	ADV
fbem-5276	39	32	,	,	PUNCT
fbem-5276	39	33	was	be	AUX
fbem-5276	39	34	too	too	ADV
fbem-5276	39	35	simple	simple	ADJ
fbem-5276	39	36	to	to	PART
fbem-5276	39	37	explain	explain	VERB
fbem-5276	39	38	the	the	DET
fbem-5276	39	39	changes	change	NOUN
fbem-5276	39	40	in	in	ADP
fbem-5276	39	41	the	the	DET
fbem-5276	39	42	quantity	quantity	NOUN
fbem-5276	39	43	of	of	ADP
fbem-5276	39	44	money	money	NOUN
fbem-5276	39	45	in	in	ADP
fbem-5276	39	46	the	the	DET
fbem-5276	39	47	new	new	ADJ
fbem-5276	39	48	era	era	NOUN
fbem-5276	39	49	.	.	PUNCT
fbem-5276	40	1	he	he	PRON
fbem-5276	40	2	advocated	advocate	VERB
fbem-5276	40	3	the	the	DET
fbem-5276	40	4	study	study	NOUN
fbem-5276	40	5	of	of	ADP
fbem-5276	40	6	related	related	ADJ
fbem-5276	40	7	theories	theory	NOUN
fbem-5276	40	8	on	on	ADP
fbem-5276	40	9	the	the	DET
fbem-5276	40	10	quantity	quantity	NOUN
fbem-5276	40	11	of	of	ADP
fbem-5276	40	12	money	money	NOUN
fbem-5276	40	13	from	from	ADP
fbem-5276	40	14	the	the	DET
fbem-5276	40	15	side	side	NOUN
fbem-5276	40	16	of	of	ADP
fbem-5276	40	17	money	money	NOUN
fbem-5276	40	18	demand	demand	NOUN
fbem-5276	40	19	.	.	PUNCT
fbem-5276	41	1	the	the	DET
fbem-5276	41	2	demand	demand	NOUN
fbem-5276	41	3	for	for	ADP
fbem-5276	41	4	money	money	NOUN
fbem-5276	41	5	is	be	AUX
fbem-5276	41	6	mainly	mainly	ADV
fbem-5276	41	7	determined	determine	VERB
fbem-5276	41	8	by	by	ADP
fbem-5276	41	9	three	three	NUM
fbem-5276	41	10	factors	factor	NOUN
fbem-5276	41	11	:	:	PUNCT
fbem-5276	41	12	wealth	wealth	NOUN
fbem-5276	41	13	,	,	PUNCT
fbem-5276	41	14	the	the	DET
fbem-5276	41	15	proportion	proportion	NOUN
fbem-5276	41	16	of	of	ADP
fbem-5276	41	17	various	various	ADJ
fbem-5276	41	18	wealth	wealth	NOUN
fbem-5276	41	19	held	hold	VERB
fbem-5276	41	20	by	by	ADP
fbem-5276	41	21	people	people	NOUN
fbem-5276	41	22	and	and	CCONJ
fbem-5276	41	23	its	its	PRON
fbem-5276	41	24	rate	rate	NOUN
fbem-5276	41	25	of	of	ADP
fbem-5276	41	26	return	return	NOUN
fbem-5276	41	27	.	.	PUNCT
fbem-5276	42	1	the	the	DET
fbem-5276	42	2	third	third	ADJ
fbem-5276	42	3	part	part	NOUN
fbem-5276	42	4	is	be	AUX
fbem-5276	42	5	people	people	NOUN
fbem-5276	42	6	's	's	PART
fbem-5276	42	7	preference	preference	NOUN
fbem-5276	42	8	and	and	CCONJ
fbem-5276	42	9	interest	interest	NOUN
fbem-5276	42	10	in	in	ADP
fbem-5276	42	11	different	different	ADJ
fbem-5276	42	12	forms	form	NOUN
fbem-5276	42	13	of	of	ADP
fbem-5276	42	14	wealth	wealth	NOUN
fbem-5276	42	15	.	.	PUNCT
fbem-5276	43	1	the	the	DET
fbem-5276	43	2	formula	formula	NOUN
fbem-5276	43	3	for	for	ADP
fbem-5276	43	4	the	the	DET
fbem-5276	43	5	new	new	ADJ
fbem-5276	43	6	quantity	quantity	NOUN
fbem-5276	43	7	theory	theory	NOUN
fbem-5276	43	8	of	of	ADP
fbem-5276	43	9	money	money	NOUN
fbem-5276	43	10	boils	boil	VERB
fbem-5276	43	11	down	down	ADP
fbem-5276	43	12	to	to	ADP
fbem-5276	43	13	:	:	PUNCT
fbem-5276	43	14	m	m	PROPN
fbem-5276	43	15	f	f	PROPN
fbem-5276	43	16	p	p	X
fbem-5276	43	17	,	,	PUNCT
fbem-5276	43	18	rb	rb	PROPN
fbem-5276	43	19	,	,	PUNCT
fbem-5276	43	20	re	re	ADP
fbem-5276	43	21	,	,	PUNCT
fbem-5276	43	22	dp	dp	PROPN
fbem-5276	43	23	dt	dt	PROPN
fbem-5276	43	24	𝑝	𝑝	PROPN
fbem-5276	43	25	,	,	PUNCT
fbem-5276	43	26	𝑤	𝑤	PROPN
fbem-5276	43	27	,	,	PUNCT
fbem-5276	43	28	𝑌	𝑌	PROPN
fbem-5276	43	29	,	,	PUNCT
fbem-5276	43	30	𝑢	𝑢	PRON
fbem-5276	43	31	  	  	SPACE
fbem-5276	43	32	m	m	VERB
fbem-5276	43	33	is	be	AUX
fbem-5276	43	34	the	the	DET
fbem-5276	43	35	wealth	wealth	NOUN
fbem-5276	43	36	held	hold	VERB
fbem-5276	43	37	by	by	ADP
fbem-5276	43	38	the	the	DET
fbem-5276	43	39	wealth	wealth	NOUN
fbem-5276	43	40	owner	owner	NOUN
fbem-5276	43	41	in	in	ADP
fbem-5276	43	42	the	the	DET
fbem-5276	43	43	form	form	NOUN
fbem-5276	43	44	of	of	ADP
fbem-5276	43	45	money	money	NOUN
fbem-5276	43	46	,	,	PUNCT
fbem-5276	43	47	p	p	PROPN
fbem-5276	43	48	is	be	AUX
fbem-5276	43	49	the	the	DET
fbem-5276	43	50	general	general	ADJ
fbem-5276	43	51	price	price	NOUN
fbem-5276	43	52	level	level	NOUN
fbem-5276	43	53	,	,	PUNCT
fbem-5276	43	54	rb	rb	NOUN
fbem-5276	43	55	is	be	AUX
fbem-5276	43	56	the	the	DET
fbem-5276	43	57	market	market	NOUN
fbem-5276	43	58	bond	bond	NOUN
fbem-5276	43	59	interest	interest	NOUN
fbem-5276	43	60	rate	rate	NOUN
fbem-5276	43	61	,	,	PUNCT
fbem-5276	43	62	re	re	VERB
fbem-5276	43	63	is	be	AUX
fbem-5276	43	64	the	the	DET
fbem-5276	43	65	market	market	NOUN
fbem-5276	43	66	bond	bond	NOUN
fbem-5276	43	67	interest	interest	NOUN
fbem-5276	43	68	rate	rate	NOUN
fbem-5276	43	69	,	,	PUNCT
fbem-5276	44	1	dtp	dtp	PROPN
fbem-5276	44	2	dp	dp	NOUN
fbem-5276	44	3	*	*	PUNCT
fbem-5276	44	4	is	be	AUX
fbem-5276	44	5	the	the	DET
fbem-5276	44	6	expected	expect	VERB
fbem-5276	44	7	return	return	NOUN
fbem-5276	44	8	on	on	ADP
fbem-5276	44	9	material	material	NOUN
fbem-5276	44	10	assets	asset	NOUN
fbem-5276	44	11	,	,	PUNCT
fbem-5276	44	12	and	and	CCONJ
fbem-5276	44	13			PROPN
fbem-5276	44	14	is	be	AUX
fbem-5276	44	15	the	the	DET
fbem-5276	44	16	relationship	relationship	NOUN
fbem-5276	44	17	between	between	ADP
fbem-5276	44	18	non	non	ADJ
fbem-5276	44	19	-	-	ADJ
fbem-5276	44	20	human	human	ADJ
fbem-5276	44	21	wealth	wealth	NOUN
fbem-5276	44	22	and	and	CCONJ
fbem-5276	44	23	human	human	ADJ
fbem-5276	44	24	wealth	wealth	NOUN
fbem-5276	44	25	the	the	DET
fbem-5276	44	26	proportion	proportion	NOUN
fbem-5276	44	27	of	of	ADP
fbem-5276	44	28	y	y	PROPN
fbem-5276	44	29	is	be	AUX
fbem-5276	44	30	the	the	DET
fbem-5276	44	31	nominal	nominal	ADJ
fbem-5276	44	32	national	national	ADJ
fbem-5276	44	33	income	income	NOUN
fbem-5276	44	34	.	.	PUNCT
fbem-5276	45	1	with	with	ADP
fbem-5276	45	2	the	the	DET
fbem-5276	45	3	development	development	NOUN
fbem-5276	45	4	of	of	ADP
fbem-5276	45	5	third	third	ADJ
fbem-5276	45	6	-	-	PUNCT
fbem-5276	45	7	party	party	NOUN
fbem-5276	45	8	payment	payment	NOUN
fbem-5276	45	9	,	,	PUNCT
fbem-5276	45	10	the	the	DET
fbem-5276	45	11	labor	labor	NOUN
fbem-5276	45	12	cost	cost	NOUN
fbem-5276	45	13	required	require	VERB
fbem-5276	45	14	for	for	ADP
fbem-5276	45	15	financial	financial	ADJ
fbem-5276	45	16	investment	investment	NOUN
fbem-5276	45	17	shows	show	VERB
fbem-5276	45	18	a	a	DET
fbem-5276	45	19	downward	downward	ADJ
fbem-5276	45	20	trend	trend	NOUN
fbem-5276	45	21	,	,	PUNCT
fbem-5276	45	22	which	which	PRON
fbem-5276	45	23	will	will	AUX
fbem-5276	45	24	cause	cause	VERB
fbem-5276	45	25	the	the	DET
fbem-5276	45	26	ratio	ratio	NOUN
fbem-5276	45	27	of	of	ADP
fbem-5276	45	28	non	non	ADJ
fbem-5276	45	29	-	-	ADJ
fbem-5276	45	30	human	human	ADJ
fbem-5276	45	31	wealth	wealth	NOUN
fbem-5276	45	32	to	to	ADP
fbem-5276	45	33	human	human	ADJ
fbem-5276	45	34	wealth	wealth	NOUN
fbem-5276	45	35	to	to	PART
fbem-5276	45	36	expand	expand	VERB
fbem-5276	45	37	,	,	PUNCT
fbem-5276	45	38	thus	thus	ADV
fbem-5276	45	39	increasing	increase	VERB
fbem-5276	45	40	the	the	DET
fbem-5276	45	41	overall	overall	ADJ
fbem-5276	45	42	demand	demand	NOUN
fbem-5276	45	43	for	for	ADP
fbem-5276	45	44	money	money	NOUN
fbem-5276	45	45	.	.	PUNCT
fbem-5276	46	1	but	but	CCONJ
fbem-5276	46	2	for	for	ADP
fbem-5276	46	3	the	the	DET
fbem-5276	46	4	internal	internal	ADJ
fbem-5276	46	5	influence	influence	NOUN
fbem-5276	46	6	of	of	ADP
fbem-5276	46	7	money	money	NOUN
fbem-5276	46	8	demand	demand	NOUN
fbem-5276	46	9	,	,	PUNCT
fbem-5276	46	10	the	the	DET
fbem-5276	46	11	new	new	ADJ
fbem-5276	46	12	quantity	quantity	NOUN
fbem-5276	46	13	theory	theory	NOUN
fbem-5276	46	14	of	of	ADP
fbem-5276	46	15	money	money	NOUN
fbem-5276	46	16	can	can	AUX
fbem-5276	46	17	not	not	PART
fbem-5276	46	18	give	give	VERB
fbem-5276	46	19	a	a	DET
fbem-5276	46	20	clear	clear	ADJ
fbem-5276	46	21	answer	answer	NOUN
fbem-5276	46	22	.	.	PUNCT
fbem-5276	47	1	2.3	2.3	NUM
fbem-5276	47	2	.	.	PUNCT
fbem-5276	48	1	the	the	DET
fbem-5276	48	2	impact	impact	NOUN
fbem-5276	48	3	of	of	ADP
fbem-5276	48	4	third	third	ADJ
fbem-5276	48	5	-	-	PUNCT
fbem-5276	48	6	party	party	NOUN
fbem-5276	48	7	payment	payment	NOUN
fbem-5276	48	8	on	on	ADP
fbem-5276	48	9	the	the	DET
fbem-5276	48	10	currency	currency	NOUN
fbem-5276	48	11	demand	demand	NOUN
fbem-5276	48	12	mechanism	mechanism	NOUN
fbem-5276	48	13	in	in	ADP
fbem-5276	48	14	the	the	DET
fbem-5276	48	15	money	money	NOUN
fbem-5276	48	16	demand	demand	NOUN
fbem-5276	48	17	model	model	NOUN
fbem-5276	48	18	,	,	PUNCT
fbem-5276	48	19	the	the	DET
fbem-5276	48	20	main	main	ADJ
fbem-5276	48	21	money	money	NOUN
fbem-5276	48	22	demand	demand	NOUN
fbem-5276	48	23	can	can	AUX
fbem-5276	48	24	be	be	AUX
fbem-5276	48	25	decomposed	decompose	VERB
fbem-5276	48	26	into	into	ADP
fbem-5276	48	27	transaction	transaction	NOUN
fbem-5276	48	28	money	money	NOUN
fbem-5276	48	29	demand	demand	NOUN
fbem-5276	48	30	,	,	PUNCT
fbem-5276	48	31	speculative	speculative	ADJ
fbem-5276	48	32	money	money	NOUN
fbem-5276	48	33	demand	demand	NOUN
fbem-5276	48	34	and	and	CCONJ
fbem-5276	48	35	precautionary	precautionary	ADJ
fbem-5276	48	36	money	money	NOUN
fbem-5276	48	37	demand	demand	NOUN
fbem-5276	48	38	.	.	PUNCT
fbem-5276	49	1	according	accord	VERB
fbem-5276	49	2	to	to	ADP
fbem-5276	49	3	keynes	keynes	PROPN
fbem-5276	49	4	'	'	PART
fbem-5276	49	5	liquidity	liquidity	NOUN
fbem-5276	49	6	preference	preference	NOUN
fbem-5276	49	7	theory	theory	NOUN
fbem-5276	49	8	,	,	PUNCT
fbem-5276	49	9	a	a	DET
fbem-5276	49	10	basic	basic	ADJ
fbem-5276	49	11	difference	difference	NOUN
fbem-5276	49	12	between	between	ADP
fbem-5276	49	13	the	the	DET
fbem-5276	49	14	above	above	ADJ
fbem-5276	49	15	three	three	NUM
fbem-5276	49	16	kinds	kind	NOUN
fbem-5276	49	17	of	of	ADP
fbem-5276	49	18	money	money	NOUN
fbem-5276	49	19	demand	demand	NOUN
fbem-5276	49	20	is	be	AUX
fbem-5276	49	21	the	the	DET
fbem-5276	49	22	liquidity	liquidity	NOUN
fbem-5276	49	23	of	of	ADP
fbem-5276	49	24	the	the	DET
fbem-5276	49	25	matching	match	VERB
fbem-5276	49	26	money	money	NOUN
fbem-5276	49	27	supply	supply	NOUN
fbem-5276	49	28	,	,	PUNCT
fbem-5276	49	29	that	that	ADV
fbem-5276	49	30	is	is	ADV
fbem-5276	49	31	,	,	PUNCT
fbem-5276	49	32	the	the	DET
fbem-5276	49	33	transactional	transactional	ADJ
fbem-5276	49	34	money	money	NOUN
fbem-5276	49	35	demand	demand	NOUN
fbem-5276	49	36	requires	require	VERB
fbem-5276	49	37	the	the	DET
fbem-5276	49	38	highest	high	ADJ
fbem-5276	49	39	liquidity	liquidity	NOUN
fbem-5276	49	40	of	of	ADP
fbem-5276	49	41	the	the	DET
fbem-5276	49	42	corresponding	corresponding	ADJ
fbem-5276	49	43	money	money	NOUN
fbem-5276	49	44	supply	supply	NOUN
fbem-5276	49	45	,	,	PUNCT
fbem-5276	49	46	and	and	CCONJ
fbem-5276	49	47	the	the	DET
fbem-5276	49	48	speculative	speculative	ADJ
fbem-5276	49	49	money	money	NOUN
fbem-5276	49	50	demand	demand	NOUN
fbem-5276	49	51	requires	require	VERB
fbem-5276	49	52	the	the	DET
fbem-5276	49	53	highest	high	ADJ
fbem-5276	49	54	liquidity	liquidity	NOUN
fbem-5276	49	55	.	.	PUNCT
fbem-5276	50	1	the	the	DET
fbem-5276	50	2	liquidity	liquidity	NOUN
fbem-5276	50	3	of	of	ADP
fbem-5276	50	4	the	the	DET
fbem-5276	50	5	matching	match	VERB
fbem-5276	50	6	money	money	NOUN
fbem-5276	50	7	supply	supply	NOUN
fbem-5276	50	8	is	be	AUX
fbem-5276	50	9	high	high	ADJ
fbem-5276	50	10	.	.	PUNCT
fbem-5276	51	1	the	the	DET
fbem-5276	51	2	liquidity	liquidity	NOUN
fbem-5276	51	3	of	of	ADP
fbem-5276	51	4	the	the	DET
fbem-5276	51	5	money	money	NOUN
fbem-5276	51	6	supply	supply	NOUN
fbem-5276	51	7	required	require	VERB
fbem-5276	51	8	by	by	ADP
fbem-5276	51	9	the	the	DET
fbem-5276	51	10	precautionary	precautionary	ADJ
fbem-5276	51	11	money	money	NOUN
fbem-5276	51	12	demand	demand	NOUN
fbem-5276	51	13	is	be	AUX
fbem-5276	51	14	the	the	DET
fbem-5276	51	15	lowest	low	ADJ
fbem-5276	51	16	.	.	PUNCT
fbem-5276	52	1	in	in	ADP
fbem-5276	52	2	the	the	DET
fbem-5276	52	3	process	process	NOUN
fbem-5276	52	4	of	of	ADP
fbem-5276	52	5	continuous	continuous	ADJ
fbem-5276	52	6	development	development	NOUN
fbem-5276	52	7	of	of	ADP
fbem-5276	52	8	third	third	ADJ
fbem-5276	52	9	-	-	PUNCT
fbem-5276	52	10	party	party	NOUN
fbem-5276	52	11	payment	payment	NOUN
fbem-5276	52	12	,	,	PUNCT
fbem-5276	52	13	the	the	DET
fbem-5276	52	14	original	original	ADJ
fbem-5276	52	15	cash	cash	NOUN
fbem-5276	52	16	used	use	VERB
fbem-5276	52	17	for	for	ADP
fbem-5276	52	18	transaction	transaction	NOUN
fbem-5276	52	19	needs	need	NOUN
fbem-5276	52	20	,	,	PUNCT
fbem-5276	52	21	that	that	ADV
fbem-5276	52	22	is	is	ADV
fbem-5276	52	23	,	,	PUNCT
fbem-5276	52	24	m0	m0	PROPN
fbem-5276	52	25	,	,	PUNCT
fbem-5276	52	26	is	be	AUX
fbem-5276	52	27	constantly	constantly	ADV
fbem-5276	52	28	replaced	replace	VERB
fbem-5276	52	29	by	by	ADP
fbem-5276	52	30	faster	fast	ADJ
fbem-5276	52	31	,	,	PUNCT
fbem-5276	52	32	more	more	ADV
fbem-5276	52	33	convenient	convenient	ADJ
fbem-5276	52	34	and	and	CCONJ
fbem-5276	52	35	safer	safe	ADJ
fbem-5276	52	36	third	third	ADJ
fbem-5276	52	37	-	-	PUNCT
fbem-5276	52	38	party	party	NOUN
fbem-5276	52	39	mobile	mobile	ADJ
fbem-5276	52	40	payment	payment	NOUN
fbem-5276	52	41	.	.	PUNCT
fbem-5276	53	1	on	on	ADP
fbem-5276	53	2	the	the	DET
fbem-5276	53	3	other	other	ADJ
fbem-5276	53	4	hand	hand	NOUN
fbem-5276	53	5	,	,	PUNCT
fbem-5276	53	6	the	the	DET
fbem-5276	53	7	liquidity	liquidity	NOUN
fbem-5276	53	8	of	of	ADP
fbem-5276	53	9	third	third	ADJ
fbem-5276	53	10	-	-	PUNCT
fbem-5276	53	11	party	party	NOUN
fbem-5276	53	12	mobile	mobile	ADJ
fbem-5276	53	13	payment	payment	NOUN
fbem-5276	53	14	is	be	AUX
fbem-5276	53	15	even	even	ADV
fbem-5276	53	16	higher	high	ADJ
fbem-5276	53	17	than	than	ADP
fbem-5276	53	18	that	that	PRON
fbem-5276	53	19	of	of	ADP
fbem-5276	53	20	traditional	traditional	ADJ
fbem-5276	53	21	cash	cash	NOUN
fbem-5276	53	22	to	to	ADP
fbem-5276	53	23	a	a	DET
fbem-5276	53	24	certain	certain	ADJ
fbem-5276	53	25	extent	extent	NOUN
fbem-5276	53	26	.	.	PUNCT
fbem-5276	54	1	the	the	DET
fbem-5276	54	2	cash	cash	NOUN
fbem-5276	54	3	that	that	PRON
fbem-5276	54	4	consumers	consumer	NOUN
fbem-5276	54	5	can	can	AUX
fbem-5276	54	6	carry	carry	VERB
fbem-5276	54	7	in	in	ADP
fbem-5276	54	8	daily	daily	ADJ
fbem-5276	54	9	consumption	consumption	NOUN
fbem-5276	54	10	activities	activity	NOUN
fbem-5276	54	11	is	be	AUX
fbem-5276	54	12	limited	limit	VERB
fbem-5276	54	13	,	,	PUNCT
fbem-5276	54	14	and	and	CCONJ
fbem-5276	54	15	the	the	DET
fbem-5276	54	16	liquidity	liquidity	NOUN
fbem-5276	54	17	in	in	ADP
fbem-5276	54	18	high	high	ADJ
fbem-5276	54	19	-	-	PUNCT
fbem-5276	54	20	value	value	NOUN
fbem-5276	54	21	cash	cash	NOUN
fbem-5276	54	22	transactions	transaction	NOUN
fbem-5276	54	23	is	be	AUX
fbem-5276	54	24	far	far	ADV
fbem-5276	54	25	lower	low	ADJ
fbem-5276	54	26	.	.	PUNCT
fbem-5276	55	1	payment	payment	NOUN
fbem-5276	55	2	to	to	ADP
fbem-5276	55	3	a	a	DET
fbem-5276	55	4	third	third	ADJ
fbem-5276	55	5	party	party	NOUN
fbem-5276	55	6	.	.	PUNCT
fbem-5276	56	1	for	for	ADP
fbem-5276	56	2	speculative	speculative	ADJ
fbem-5276	56	3	currency	currency	NOUN
fbem-5276	56	4	demand	demand	NOUN
fbem-5276	56	5	and	and	CCONJ
fbem-5276	56	6	preventive	preventive	ADJ
fbem-5276	56	7	currency	currency	NOUN
fbem-5276	56	8	demand	demand	NOUN
fbem-5276	56	9	,	,	PUNCT
fbem-5276	56	10	on	on	ADP
fbem-5276	56	11	the	the	DET
fbem-5276	56	12	one	one	NUM
fbem-5276	56	13	hand	hand	NOUN
fbem-5276	56	14	,	,	PUNCT
fbem-5276	56	15	because	because	SCONJ
fbem-5276	56	16	the	the	DET
fbem-5276	56	17	third	third	ADJ
fbem-5276	56	18	-	-	PUNCT
fbem-5276	56	19	party	party	NOUN
fbem-5276	56	20	payment	payment	NOUN
fbem-5276	56	21	funds	fund	NOUN
fbem-5276	56	22	will	will	AUX
fbem-5276	56	23	eventually	eventually	ADV
fbem-5276	56	24	be	be	AUX
fbem-5276	56	25	stored	store	VERB
fbem-5276	56	26	in	in	ADP
fbem-5276	56	27	the	the	DET
fbem-5276	56	28	third	third	ADJ
fbem-5276	56	29	-	-	PUNCT
fbem-5276	56	30	party	party	NOUN
fbem-5276	56	31	payment	payment	NOUN
fbem-5276	56	32	platform	platform	NOUN
fbem-5276	56	33	(	(	PUNCT
fbem-5276	56	34	because	because	SCONJ
fbem-5276	56	35	the	the	DET
fbem-5276	56	36	third	third	ADJ
fbem-5276	56	37	-	-	PUNCT
fbem-5276	56	38	party	party	NOUN
fbem-5276	56	39	payment	payment	NOUN
fbem-5276	56	40	platform	platform	NOUN
fbem-5276	56	41	is	be	AUX
fbem-5276	56	42	connected	connect	VERB
fbem-5276	56	43	to	to	ADP
fbem-5276	56	44	the	the	DET
fbem-5276	56	45	commercial	commercial	ADJ
fbem-5276	56	46	banking	banking	NOUN
fbem-5276	56	47	system	system	NOUN
fbem-5276	56	48	)	)	PUNCT
fbem-5276	56	49	,	,	PUNCT
fbem-5276	56	50	third	third	ADJ
fbem-5276	56	51	-	-	PUNCT
fbem-5276	56	52	party	party	NOUN
fbem-5276	56	53	payment	payment	NOUN
fbem-5276	56	54	can	can	AUX
fbem-5276	56	55	replace	replace	VERB
fbem-5276	56	56	cash	cash	NOUN
fbem-5276	56	57	it	it	PRON
fbem-5276	56	58	will	will	AUX
fbem-5276	56	59	be	be	AUX
fbem-5276	56	60	converted	convert	VERB
fbem-5276	56	61	into	into	ADP
fbem-5276	56	62	bank	bank	NOUN
fbem-5276	56	63	deposits	deposit	NOUN
fbem-5276	56	64	to	to	PART
fbem-5276	56	65	increase	increase	VERB
fbem-5276	56	66	the	the	DET
fbem-5276	56	67	money	money	NOUN
fbem-5276	56	68	supply	supply	NOUN
fbem-5276	56	69	for	for	ADP
fbem-5276	56	70	investment	investment	NOUN
fbem-5276	56	71	.	.	PUNCT
fbem-5276	57	1	according	accord	VERB
fbem-5276	57	2	to	to	ADP
fbem-5276	57	3	the	the	DET
fbem-5276	57	4	equilibrium	equilibrium	NOUN
fbem-5276	57	5	model	model	NOUN
fbem-5276	57	6	of	of	ADP
fbem-5276	57	7	money	money	NOUN
fbem-5276	57	8	supply	supply	NOUN
fbem-5276	57	9	and	and	CCONJ
fbem-5276	57	10	demand	demand	NOUN
fbem-5276	57	11	,	,	PUNCT
fbem-5276	57	12	the	the	DET
fbem-5276	57	13	equilibrium	equilibrium	NOUN
fbem-5276	57	14	interest	interest	NOUN
fbem-5276	57	15	rate	rate	NOUN
fbem-5276	57	16	will	will	AUX
fbem-5276	57	17	continue	continue	VERB
fbem-5276	57	18	to	to	PART
fbem-5276	57	19	decline	decline	VERB
fbem-5276	57	20	.	.	PUNCT
fbem-5276	58	1	as	as	SCONJ
fbem-5276	58	2	interest	interest	NOUN
fbem-5276	58	3	rates	rate	NOUN
fbem-5276	58	4	continue	continue	VERB
fbem-5276	58	5	to	to	PART
fbem-5276	58	6	fall	fall	VERB
fbem-5276	58	7	,	,	PUNCT
fbem-5276	58	8	the	the	DET
fbem-5276	58	9	cost	cost	NOUN
fbem-5276	58	10	of	of	ADP
fbem-5276	58	11	money	money	NOUN
fbem-5276	58	12	for	for	ADP
fbem-5276	58	13	speculation	speculation	NOUN
fbem-5276	58	14	and	and	CCONJ
fbem-5276	58	15	prevention	prevention	NOUN
fbem-5276	58	16	continues	continue	VERB
fbem-5276	58	17	to	to	PART
fbem-5276	58	18	fall	fall	VERB
fbem-5276	58	19	.	.	PUNCT
fbem-5276	59	1	on	on	ADP
fbem-5276	59	2	the	the	DET
fbem-5276	59	3	other	other	ADJ
fbem-5276	59	4	hand	hand	NOUN
fbem-5276	59	5	,	,	PUNCT
fbem-5276	59	6	because	because	SCONJ
fbem-5276	59	7	third	third	ADJ
fbem-5276	59	8	-	-	PUNCT
fbem-5276	59	9	party	party	NOUN
fbem-5276	59	10	payment	payment	NOUN
fbem-5276	59	11	accelerates	accelerate	VERB
fbem-5276	59	12	the	the	DET
fbem-5276	59	13	discount	discount	NOUN
fbem-5276	59	14	and	and	CCONJ
fbem-5276	59	15	conversion	conversion	NOUN
fbem-5276	59	16	between	between	ADP
fbem-5276	59	17	financial	financial	ADJ
fbem-5276	59	18	institutions	institution	NOUN
fbem-5276	59	19	and	and	CCONJ
fbem-5276	59	20	investment	investment	NOUN
fbem-5276	59	21	products	product	NOUN
fbem-5276	59	22	,	,	PUNCT
fbem-5276	59	23	the	the	DET
fbem-5276	59	24	liquidity	liquidity	NOUN
fbem-5276	59	25	of	of	ADP
fbem-5276	59	26	the	the	DET
fbem-5276	59	27	corresponding	correspond	VERB
fbem-5276	59	28	money	money	NOUN
fbem-5276	59	29	supply	supply	NOUN
fbem-5276	59	30	continues	continue	VERB
fbem-5276	59	31	to	to	PART
fbem-5276	59	32	increase	increase	VERB
fbem-5276	59	33	.	.	PUNCT
fbem-5276	60	1	under	under	ADP
fbem-5276	60	2	the	the	DET
fbem-5276	60	3	joint	joint	ADJ
fbem-5276	60	4	effect	effect	NOUN
fbem-5276	60	5	of	of	ADP
fbem-5276	60	6	these	these	DET
fbem-5276	60	7	two	two	NUM
fbem-5276	60	8	aspects	aspect	NOUN
fbem-5276	60	9	,	,	PUNCT
fbem-5276	60	10	it	it	PRON
fbem-5276	60	11	will	will	AUX
fbem-5276	60	12	lead	lead	VERB
fbem-5276	60	13	to	to	ADP
fbem-5276	60	14	the	the	DET
fbem-5276	60	15	rise	rise	NOUN
fbem-5276	60	16	of	of	ADP
fbem-5276	60	17	speculative	speculative	ADJ
fbem-5276	60	18	money	money	NOUN
fbem-5276	60	19	demand	demand	NOUN
fbem-5276	60	20	and	and	CCONJ
fbem-5276	60	21	precautionary	precautionary	ADJ
fbem-5276	60	22	money	money	NOUN
fbem-5276	60	23	demand	demand	NOUN
fbem-5276	60	24	.	.	PUNCT
fbem-5276	61	1	3	3	X
fbem-5276	61	2	.	.	X
fbem-5276	61	3	main	main	ADJ
fbem-5276	61	4	assumptions	assumption	NOUN
fbem-5276	61	5	and	and	CCONJ
fbem-5276	61	6	variable	variable	ADJ
fbem-5276	61	7	design	design	NOUN
fbem-5276	61	8	according	accord	VERB
fbem-5276	61	9	to	to	ADP
fbem-5276	61	10	the	the	DET
fbem-5276	61	11	above	above	ADJ
fbem-5276	61	12	analysis	analysis	NOUN
fbem-5276	61	13	,	,	PUNCT
fbem-5276	61	14	it	it	PRON
fbem-5276	61	15	can	can	AUX
fbem-5276	61	16	be	be	AUX
fbem-5276	61	17	found	find	VERB
fbem-5276	61	18	that	that	SCONJ
fbem-5276	61	19	the	the	DET
fbem-5276	61	20	rapid	rapid	ADJ
fbem-5276	61	21	development	development	NOUN
fbem-5276	61	22	of	of	ADP
fbem-5276	61	23	third	third	ADJ
fbem-5276	61	24	-	-	PUNCT
fbem-5276	61	25	party	party	NOUN
fbem-5276	61	26	payment	payment	NOUN
fbem-5276	61	27	will	will	AUX
fbem-5276	61	28	theoretically	theoretically	ADV
fbem-5276	61	29	inhibit	inhibit	VERB
fbem-5276	61	30	the	the	DET
fbem-5276	61	31	demand	demand	NOUN
fbem-5276	61	32	for	for	ADP
fbem-5276	61	33	transactional	transactional	ADJ
fbem-5276	61	34	money	money	NOUN
fbem-5276	61	35	and	and	CCONJ
fbem-5276	61	36	promote	promote	VERB
fbem-5276	61	37	the	the	DET
fbem-5276	61	38	demand	demand	NOUN
fbem-5276	61	39	for	for	ADP
fbem-5276	61	40	speculative	speculative	ADJ
fbem-5276	61	41	money	money	NOUN
fbem-5276	61	42	and	and	CCONJ
fbem-5276	61	43	preventive	preventive	ADJ
fbem-5276	61	44	money	money	NOUN
fbem-5276	61	45	.	.	PUNCT
fbem-5276	62	1	so	so	ADV
fbem-5276	62	2	the	the	DET
fbem-5276	62	3	following	follow	VERB
fbem-5276	62	4	assumptions	assumption	NOUN
fbem-5276	62	5	are	be	AUX
fbem-5276	62	6	made	make	VERB
fbem-5276	62	7	:	:	PUNCT
fbem-5276	62	8	h1	h1	PROPN
fbem-5276	62	9	:	:	PUNCT
fbem-5276	62	10	the	the	DET
fbem-5276	62	11	development	development	NOUN
fbem-5276	62	12	of	of	ADP
fbem-5276	62	13	third	third	ADJ
fbem-5276	62	14	-	-	PUNCT
fbem-5276	62	15	party	party	NOUN
fbem-5276	62	16	payment	payment	NOUN
fbem-5276	62	17	has	have	VERB
fbem-5276	62	18	an	an	DET
fbem-5276	62	19	inhibitory	inhibitory	ADJ
fbem-5276	62	20	effect	effect	NOUN
fbem-5276	62	21	on	on	ADP
fbem-5276	62	22	the	the	DET
fbem-5276	62	23	demand	demand	NOUN
fbem-5276	62	24	for	for	ADP
fbem-5276	62	25	transactional	transactional	ADJ
fbem-5276	62	26	money	money	NOUN
fbem-5276	62	27	.	.	PUNCT
fbem-5276	63	1	h2	h2	NOUN
fbem-5276	63	2	:	:	PUNCT
fbem-5276	63	3	the	the	DET
fbem-5276	63	4	development	development	NOUN
fbem-5276	63	5	of	of	ADP
fbem-5276	63	6	third	third	ADJ
fbem-5276	63	7	-	-	PUNCT
fbem-5276	63	8	party	party	NOUN
fbem-5276	63	9	payment	payment	NOUN
fbem-5276	63	10	can	can	AUX
fbem-5276	63	11	promote	promote	VERB
fbem-5276	63	12	speculative	speculative	ADJ
fbem-5276	63	13	money	money	NOUN
fbem-5276	63	14	demand	demand	NOUN
fbem-5276	63	15	and	and	CCONJ
fbem-5276	63	16	precautionary	precautionary	ADJ
fbem-5276	63	17	money	money	NOUN
fbem-5276	63	18	demand	demand	NOUN
fbem-5276	63	19	.	.	PUNCT
fbem-5276	64	1	speculative	speculative	ADJ
fbem-5276	64	2	money	money	NOUN
fbem-5276	64	3	demand	demand	NOUN
fbem-5276	64	4	and	and	CCONJ
fbem-5276	64	5	precautionary	precautionary	ADJ
fbem-5276	64	6	money	money	NOUN
fbem-5276	64	7	demand	demand	NOUN
fbem-5276	64	8	can	can	AUX
fbem-5276	64	9	be	be	AUX
fbem-5276	64	10	equivalent	equivalent	ADJ
fbem-5276	64	11	to	to	ADP
fbem-5276	64	12	the	the	DET
fbem-5276	64	13	total	total	ADJ
fbem-5276	64	14	social	social	ADJ
fbem-5276	64	15	investment	investment	NOUN
fbem-5276	64	16	,	,	PUNCT
fbem-5276	64	17	and	and	CCONJ
fbem-5276	64	18	can	can	AUX
fbem-5276	64	19	be	be	AUX
fbem-5276	64	20	equivalent	equivalent	ADJ
fbem-5276	64	21	to	to	ADP
fbem-5276	64	22	the	the	DET
fbem-5276	64	23	total	total	ADJ
fbem-5276	64	24	social	social	ADJ
fbem-5276	64	25	savings	saving	NOUN
fbem-5276	64	26	under	under	ADP
fbem-5276	64	27	the	the	DET
fbem-5276	64	28	condition	condition	NOUN
fbem-5276	64	29	of	of	ADP
fbem-5276	64	30	product	product	NOUN
fbem-5276	64	31	market	market	NOUN
fbem-5276	64	32	equilibrium	equilibrium	NOUN
fbem-5276	64	33	.	.	PUNCT
fbem-5276	65	1	that	that	PRON
fbem-5276	65	2	is	be	AUX
fbem-5276	65	3	,	,	PUNCT
fbem-5276	65	4	it	it	PRON
fbem-5276	65	5	can	can	AUX
fbem-5276	65	6	be	be	AUX
fbem-5276	65	7	expressed	express	VERB
fbem-5276	65	8	by	by	ADP
fbem-5276	65	9	the	the	DET
fbem-5276	65	10	following	follow	VERB
fbem-5276	65	11	formula	formula	NOUN
fbem-5276	65	12	:	:	PUNCT
fbem-5276	65	13	𝑴𝟏	𝑴𝟏	PROPN
fbem-5276	65	14	-𝑴𝟎=𝐋	-𝑴𝟎=𝐋	PROPN
fbem-5276	65	15	therefore	therefore	ADV
fbem-5276	65	16	,	,	PUNCT
fbem-5276	65	17	transactional	transactional	ADJ
fbem-5276	65	18	money	money	NOUN
fbem-5276	65	19	demand	demand	NOUN
fbem-5276	65	20	can	can	AUX
fbem-5276	65	21	be	be	AUX
fbem-5276	65	22	represented	represent	VERB
fbem-5276	65	23	by	by	ADP
fbem-5276	65	24	m0	m0	NOUN
fbem-5276	65	25	according	accord	VERB
fbem-5276	65	26	to	to	ADP
fbem-5276	65	27	the	the	DET
fbem-5276	65	28	nature	nature	NOUN
fbem-5276	65	29	of	of	ADP
fbem-5276	65	30	money	money	NOUN
fbem-5276	65	31	market	market	NOUN
fbem-5276	65	32	equilibrium	equilibrium	NOUN
fbem-5276	65	33	,	,	PUNCT
fbem-5276	65	34	while	while	SCONJ
fbem-5276	65	35	speculative	speculative	ADJ
fbem-5276	65	36	money	money	NOUN
fbem-5276	65	37	demand	demand	NOUN
fbem-5276	65	38	and	and	CCONJ
fbem-5276	65	39	precautionary	precautionary	ADJ
fbem-5276	65	40	money	money	NOUN
fbem-5276	65	41	demand	demand	NOUN
fbem-5276	65	42	can	can	AUX
fbem-5276	65	43	be	be	AUX
fbem-5276	65	44	represented	represent	VERB
fbem-5276	65	45	by	by	ADP
fbem-5276	65	46	m2	m2	PROPN
fbem-5276	65	47	-	-	PUNCT
fbem-5276	65	48	m0	m0	PROPN
fbem-5276	65	49	.	.	PUNCT
fbem-5276	66	1	there	there	PRON
fbem-5276	66	2	is	be	VERB
fbem-5276	66	3	a	a	DET
fbem-5276	66	4	lack	lack	NOUN
fbem-5276	66	5	of	of	ADP
fbem-5276	66	6	previous	previous	ADJ
fbem-5276	66	7	research	research	NOUN
fbem-5276	66	8	on	on	ADP
fbem-5276	66	9	the	the	DET
fbem-5276	66	10	decomposition	decomposition	NOUN
fbem-5276	66	11	of	of	ADP
fbem-5276	66	12	speculative	speculative	ADJ
fbem-5276	66	13	money	money	NOUN
fbem-5276	66	14	demand	demand	NOUN
fbem-5276	66	15	and	and	CCONJ
fbem-5276	66	16	precautionary	precautionary	ADJ
fbem-5276	66	17	money	money	NOUN
fbem-5276	66	18	demand	demand	NOUN
fbem-5276	66	19	.	.	PUNCT
fbem-5276	67	1	however	however	ADV
fbem-5276	67	2	,	,	PUNCT
fbem-5276	67	3	under	under	ADP
fbem-5276	67	4	the	the	DET
fbem-5276	67	5	framework	framework	NOUN
fbem-5276	67	6	of	of	ADP
fbem-5276	67	7	this	this	DET
fbem-5276	67	8	article	article	NOUN
fbem-5276	67	9	,	,	PUNCT
fbem-5276	67	10	not	not	PART
fbem-5276	67	11	distinguishing	distinguish	VERB
fbem-5276	67	12	between	between	ADP
fbem-5276	67	13	the	the	DET
fbem-5276	67	14	two	two	NUM
fbem-5276	67	15	has	have	VERB
fbem-5276	67	16	little	little	ADJ
fbem-5276	67	17	impact	impact	NOUN
fbem-5276	67	18	on	on	ADP
fbem-5276	67	19	the	the	DET
fbem-5276	67	20	final	final	ADJ
fbem-5276	67	21	conclusion	conclusion	NOUN
fbem-5276	67	22	.	.	PUNCT
fbem-5276	68	1	according	accord	VERB
fbem-5276	68	2	to	to	ADP
fbem-5276	68	3	keynes	keyne	NOUN
fbem-5276	68	4	’	'	PUNCT
fbem-5276	68	5	money	money	NOUN
fbem-5276	68	6	demand	demand	NOUN
fbem-5276	68	7	theory	theory	NOUN
fbem-5276	68	8	,	,	PUNCT
fbem-5276	68	9	both	both	DET
fbem-5276	68	10	speculative	speculative	ADJ
fbem-5276	68	11	money	money	NOUN
fbem-5276	68	12	demand	demand	NOUN
fbem-5276	68	13	and	and	CCONJ
fbem-5276	68	14	precautionary	precautionary	ADJ
fbem-5276	68	15	money	money	NOUN
fbem-5276	68	16	demand	demand	NOUN
fbem-5276	68	17	are	be	AUX
fbem-5276	68	18	affected	affect	VERB
fbem-5276	68	19	by	by	ADP
fbem-5276	68	20	interest	interest	NOUN
fbem-5276	68	21	rates	rate	NOUN
fbem-5276	68	22	at	at	ADP
fbem-5276	68	23	the	the	DET
fbem-5276	68	24	same	same	ADJ
fbem-5276	68	25	time	time	NOUN
fbem-5276	68	26	.	.	PUNCT
fbem-5276	69	1	is	be	AUX
fbem-5276	69	2	the	the	DET
fbem-5276	69	3	non	non	ADJ
fbem-5276	69	4	-	-	ADJ
fbem-5276	69	5	transactional	transactional	ADJ
fbem-5276	69	6	demand	demand	NOUN
fbem-5276	69	7	for	for	ADP
fbem-5276	69	8	money	money	NOUN
fbem-5276	69	9	.	.	PUNCT
fbem-5276	70	1	therefore	therefore	ADV
fbem-5276	70	2	,	,	PUNCT
fbem-5276	70	3	this	this	DET
fbem-5276	70	4	paper	paper	NOUN
fbem-5276	70	5	classifies	classify	VERB
fbem-5276	70	6	the	the	DET
fbem-5276	70	7	two	two	NUM
fbem-5276	70	8	as	as	ADP
fbem-5276	70	9	one	one	NUM
fbem-5276	70	10	dependent	dependent	ADJ
fbem-5276	70	11	variable	variable	NOUN
fbem-5276	70	12	for	for	ADP
fbem-5276	70	13	research	research	NOUN
fbem-5276	70	14	.	.	PUNCT
fbem-5276	71	1	generally	generally	ADV
fbem-5276	71	2	speaking	speak	VERB
fbem-5276	71	3	,	,	PUNCT
fbem-5276	71	4	the	the	DET
fbem-5276	71	5	influencing	influence	VERB
fbem-5276	71	6	factors	factor	NOUN
fbem-5276	71	7	of	of	ADP
fbem-5276	71	8	speculative	speculative	ADJ
fbem-5276	71	9	money	money	NOUN
fbem-5276	71	10	demand	demand	NOUN
fbem-5276	71	11	are	be	AUX
fbem-5276	71	12	currently	currently	ADV
fbem-5276	71	13	recognized	recognize	VERB
fbem-5276	71	14	as	as	ADP
fbem-5276	71	15	interest	interest	NOUN
fbem-5276	71	16	rate	rate	NOUN
fbem-5276	71	17	,	,	PUNCT
fbem-5276	71	18	inflation	inflation	NOUN
fbem-5276	71	19	rate	rate	NOUN
fbem-5276	71	20	,	,	PUNCT
fbem-5276	71	21	national	national	ADJ
fbem-5276	71	22	income	income	NOUN
fbem-5276	71	23	level	level	NOUN
fbem-5276	71	24	and	and	CCONJ
fbem-5276	71	25	the	the	DET
fbem-5276	71	26	rate	rate	NOUN
fbem-5276	71	27	of	of	ADP
fbem-5276	71	28	return	return	NOUN
fbem-5276	71	29	of	of	ADP
fbem-5276	71	30	the	the	DET
fbem-5276	71	31	stock	stock	NOUN
fbem-5276	71	32	and	and	CCONJ
fbem-5276	71	33	bond	bond	NOUN
fbem-5276	71	34	market	market	NOUN
fbem-5276	71	35	.	.	PUNCT
fbem-5276	72	1	combined	combine	VERB
fbem-5276	72	2	with	with	ADP
fbem-5276	72	3	previous	previous	ADJ
fbem-5276	72	4	research	research	NOUN
fbem-5276	72	5	results	result	NOUN
fbem-5276	72	6	,	,	PUNCT
fbem-5276	72	7	this	this	DET
fbem-5276	72	8	paper	paper	NOUN
fbem-5276	72	9	will	will	AUX
fbem-5276	72	10	select	select	VERB
fbem-5276	72	11	the	the	DET
fbem-5276	72	12	following	following	ADJ
fbem-5276	72	13	variables	variable	NOUN
fbem-5276	72	14	as	as	ADP
fbem-5276	72	15	research	research	NOUN
fbem-5276	72	16	objects	object	NOUN
fbem-5276	72	17	.	.	PUNCT
fbem-5276	73	1	consumer	consumer	NOUN
fbem-5276	73	2	price	price	NOUN
fbem-5276	73	3	index	index	NOUN
fbem-5276	73	4	(	(	PUNCT
fbem-5276	73	5	cpi	cpi	PROPN
fbem-5276	73	6	)	)	PUNCT
fbem-5276	73	7	,	,	PUNCT
fbem-5276	73	8	in	in	ADP
fbem-5276	73	9	fisher	fisher	PROPN
fbem-5276	73	10	's	's	PART
fbem-5276	73	11	money	money	NOUN
fbem-5276	73	12	quantity	quantity	NOUN
fbem-5276	73	13	equation	equation	NOUN
fbem-5276	73	14	,	,	PUNCT
fbem-5276	73	15	the	the	DET
fbem-5276	73	16	price	price	NOUN
fbem-5276	73	17	factor	factor	NOUN
fbem-5276	73	18	has	have	VERB
fbem-5276	73	19	a	a	DET
fbem-5276	73	20	direct	direct	ADJ
fbem-5276	73	21	effect	effect	NOUN
fbem-5276	73	22	on	on	ADP
fbem-5276	73	23	inflation	inflation	NOUN
fbem-5276	73	24	.	.	PUNCT
fbem-5276	74	1	a	a	DET
fbem-5276	74	2	change	change	NOUN
fbem-5276	74	3	in	in	ADP
fbem-5276	74	4	price	price	NOUN
fbem-5276	74	5	will	will	AUX
fbem-5276	74	6	directly	directly	ADV
fbem-5276	74	7	cause	cause	VERB
fbem-5276	74	8	a	a	DET
fbem-5276	74	9	change	change	NOUN
fbem-5276	74	10	in	in	ADP
fbem-5276	74	11	the	the	DET
fbem-5276	74	12	quantity	quantity	NOUN
fbem-5276	74	13	demanded	demand	VERB
fbem-5276	74	14	of	of	ADP
fbem-5276	74	15	money	money	NOUN
fbem-5276	74	16	.	.	PUNCT
fbem-5276	75	1	this	this	DET
fbem-5276	75	2	paper	paper	NOUN
fbem-5276	75	3	selects	select	VERB
fbem-5276	75	4	the	the	DET
fbem-5276	75	5	annual	annual	ADJ
fbem-5276	75	6	cpi	cpi	PROPN
fbem-5276	75	7	data	datum	NOUN
fbem-5276	75	8	48	48	NUM
fbem-5276	75	9	(	(	PUNCT
fbem-5276	75	10	chain	chain	NOUN
fbem-5276	75	11	ratio	ratio	NOUN
fbem-5276	75	12	)	)	PUNCT
fbem-5276	75	13	as	as	ADP
fbem-5276	75	14	one	one	NUM
fbem-5276	75	15	of	of	ADP
fbem-5276	75	16	the	the	DET
fbem-5276	75	17	explanatory	explanatory	ADJ
fbem-5276	75	18	variables	variable	NOUN
fbem-5276	75	19	.	.	PUNCT
fbem-5276	76	1	monthly	monthly	ADJ
fbem-5276	76	2	average	average	ADJ
fbem-5276	76	3	interest	interest	NOUN
fbem-5276	76	4	rate	rate	NOUN
fbem-5276	76	5	(	(	PUNCT
fbem-5276	76	6	rate	rate	NOUN
fbem-5276	76	7	)	)	PUNCT
fbem-5276	76	8	,	,	PUNCT
fbem-5276	76	9	due	due	ADP
fbem-5276	76	10	to	to	ADP
fbem-5276	76	11	the	the	DET
fbem-5276	76	12	large	large	ADJ
fbem-5276	76	13	amount	amount	NOUN
fbem-5276	76	14	of	of	ADP
fbem-5276	76	15	interbank	interbank	NOUN
fbem-5276	76	16	offered	offer	VERB
fbem-5276	76	17	rate	rate	NOUN
fbem-5276	76	18	data	datum	NOUN
fbem-5276	76	19	and	and	CCONJ
fbem-5276	76	20	the	the	DET
fbem-5276	76	21	difficulty	difficulty	NOUN
fbem-5276	76	22	of	of	ADP
fbem-5276	76	23	query	query	NOUN
fbem-5276	76	24	and	and	CCONJ
fbem-5276	76	25	analysis	analysis	NOUN
fbem-5276	76	26	.	.	PUNCT
fbem-5276	77	1	this	this	DET
fbem-5276	77	2	paper	paper	NOUN
fbem-5276	77	3	selects	select	VERB
fbem-5276	77	4	the	the	DET
fbem-5276	77	5	monthly	monthly	ADJ
fbem-5276	77	6	average	average	ADJ
fbem-5276	77	7	interest	interest	NOUN
fbem-5276	77	8	rate	rate	NOUN
fbem-5276	77	9	issued	issue	VERB
fbem-5276	77	10	by	by	ADP
fbem-5276	77	11	banks	bank	NOUN
fbem-5276	77	12	determined	determine	VERB
fbem-5276	77	13	by	by	ADP
fbem-5276	77	14	the	the	DET
fbem-5276	77	15	people	people	NOUN
fbem-5276	77	16	's	's	PART
fbem-5276	77	17	bank	bank	PROPN
fbem-5276	77	18	of	of	ADP
fbem-5276	77	19	china	china	PROPN
fbem-5276	77	20	to	to	PART
fbem-5276	77	21	determine	determine	VERB
fbem-5276	77	22	the	the	DET
fbem-5276	77	23	looseness	looseness	NOUN
fbem-5276	77	24	of	of	ADP
fbem-5276	77	25	the	the	DET
fbem-5276	77	26	central	central	ADJ
fbem-5276	77	27	bank	bank	NOUN
fbem-5276	77	28	's	's	PART
fbem-5276	77	29	monetary	monetary	ADJ
fbem-5276	77	30	policy	policy	NOUN
fbem-5276	77	31	.	.	PUNCT
fbem-5276	78	1	cumulative	cumulative	ADJ
fbem-5276	78	2	industrial	industrial	ADJ
fbem-5276	78	3	growth	growth	NOUN
fbem-5276	78	4	rate	rate	NOUN
fbem-5276	78	5	(	(	PUNCT
fbem-5276	78	6	sidv	sidv	NOUN
fbem-5276	78	7	)	)	PUNCT
fbem-5276	78	8	,	,	PUNCT
fbem-5276	78	9	in	in	ADP
fbem-5276	78	10	previous	previous	ADJ
fbem-5276	78	11	studies	study	NOUN
fbem-5276	78	12	,	,	PUNCT
fbem-5276	78	13	some	some	DET
fbem-5276	78	14	scholars	scholar	NOUN
fbem-5276	78	15	believe	believe	VERB
fbem-5276	78	16	that	that	SCONJ
fbem-5276	78	17	there	there	PRON
fbem-5276	78	18	is	be	VERB
fbem-5276	78	19	a	a	DET
fbem-5276	78	20	stable	stable	ADJ
fbem-5276	78	21	relationship	relationship	NOUN
fbem-5276	78	22	between	between	ADP
fbem-5276	78	23	national	national	ADJ
fbem-5276	78	24	income	income	NOUN
fbem-5276	78	25	and	and	CCONJ
fbem-5276	78	26	money	money	NOUN
fbem-5276	78	27	demand	demand	NOUN
fbem-5276	78	28	.	.	PUNCT
fbem-5276	79	1	keynes	keynes	PROPN
fbem-5276	79	2	believed	believe	VERB
fbem-5276	79	3	that	that	SCONJ
fbem-5276	79	4	short	short	ADJ
fbem-5276	79	5	-	-	PUNCT
fbem-5276	79	6	term	term	NOUN
fbem-5276	79	7	income	income	NOUN
fbem-5276	79	8	changes	change	NOUN
fbem-5276	79	9	can	can	AUX
fbem-5276	79	10	have	have	VERB
fbem-5276	79	11	an	an	DET
fbem-5276	79	12	impact	impact	NOUN
fbem-5276	79	13	on	on	ADP
fbem-5276	79	14	money	money	NOUN
fbem-5276	79	15	demand	demand	NOUN
fbem-5276	79	16	,	,	PUNCT
fbem-5276	79	17	while	while	SCONJ
fbem-5276	79	18	friedman	friedman	PROPN
fbem-5276	79	19	believed	believe	VERB
fbem-5276	79	20	that	that	SCONJ
fbem-5276	79	21	longterm	longterm	ADJ
fbem-5276	79	22	income	income	NOUN
fbem-5276	79	23	changes	change	NOUN
fbem-5276	79	24	can	can	AUX
fbem-5276	79	25	have	have	VERB
fbem-5276	79	26	an	an	DET
fbem-5276	79	27	impact	impact	NOUN
fbem-5276	79	28	on	on	ADP
fbem-5276	79	29	money	money	NOUN
fbem-5276	79	30	demand	demand	NOUN
fbem-5276	79	31	.	.	PUNCT
fbem-5276	80	1	however	however	ADV
fbem-5276	80	2	,	,	PUNCT
fbem-5276	80	3	due	due	ADP
fbem-5276	80	4	to	to	ADP
fbem-5276	80	5	the	the	DET
fbem-5276	80	6	lack	lack	NOUN
fbem-5276	80	7	of	of	ADP
fbem-5276	80	8	monthly	monthly	ADJ
fbem-5276	80	9	gdp	gdp	NOUN
fbem-5276	80	10	data	datum	NOUN
fbem-5276	80	11	,	,	PUNCT
fbem-5276	80	12	according	accord	VERB
fbem-5276	80	13	to	to	ADP
fbem-5276	80	14	previous	previous	ADJ
fbem-5276	80	15	views	view	NOUN
fbem-5276	80	16	,	,	PUNCT
fbem-5276	80	17	the	the	DET
fbem-5276	80	18	monthly	monthly	ADJ
fbem-5276	80	19	macroeconomic	macroeconomic	ADJ
fbem-5276	80	20	national	national	ADJ
fbem-5276	80	21	income	income	NOUN
fbem-5276	80	22	indicators	indicator	NOUN
fbem-5276	80	23	can	can	AUX
fbem-5276	80	24	be	be	AUX
fbem-5276	80	25	obtained	obtain	VERB
fbem-5276	80	26	from	from	ADP
fbem-5276	80	27	the	the	DET
fbem-5276	80	28	industrial	industrial	ADJ
fbem-5276	80	29	growth	growth	NOUN
fbem-5276	80	30	rate	rate	NOUN
fbem-5276	80	31	.	.	PUNCT
fbem-5276	81	1	therefore	therefore	ADV
fbem-5276	81	2	,	,	PUNCT
fbem-5276	81	3	if	if	SCONJ
fbem-5276	81	4	december	december	PROPN
fbem-5276	81	5	2015	2015	NUM
fbem-5276	81	6	is	be	AUX
fbem-5276	81	7	set	set	VERB
fbem-5276	81	8	as	as	ADP
fbem-5276	81	9	the	the	DET
fbem-5276	81	10	base	base	NOUN
fbem-5276	81	11	period	period	NOUN
fbem-5276	81	12	1	1	NUM
fbem-5276	81	13	,	,	PUNCT
fbem-5276	81	14	and	and	CCONJ
fbem-5276	81	15	the	the	DET
fbem-5276	81	16	monthly	monthly	ADJ
fbem-5276	81	17	industrial	industrial	ADJ
fbem-5276	81	18	growth	growth	NOUN
fbem-5276	81	19	rate	rate	NOUN
fbem-5276	81	20	is	be	AUX
fbem-5276	81	21	st	st	PROPN
fbem-5276	81	22	,	,	PUNCT
fbem-5276	81	23	then	then	ADV
fbem-5276	81	24	the	the	DET
fbem-5276	81	25	cumulative	cumulative	ADJ
fbem-5276	81	26	industrial	industrial	ADJ
fbem-5276	81	27	industrial	industrial	ADJ
fbem-5276	81	28	growth	growth	NOUN
fbem-5276	81	29	rate	rate	NOUN
fbem-5276	81	30	of	of	ADP
fbem-5276	81	31	the	the	DET
fbem-5276	81	32	monthly	monthly	ADJ
fbem-5276	81	33	time	time	NOUN
fbem-5276	81	34	t	t	PROPN
fbem-5276	81	35	unit	unit	NOUN
fbem-5276	81	36	away	away	ADV
fbem-5276	81	37	from	from	ADP
fbem-5276	81	38	it	it	PRON
fbem-5276	81	39	is	be	AUX
fbem-5276	81	40	:	:	PUNCT
fbem-5276	81	41	sidv=	sidv=	NUM
fbem-5276	81	42	)	)	PUNCT
fbem-5276	81	43	1	1	NUM
fbem-5276	81	44	(	(	PUNCT
fbem-5276	81	45	1	1	NUM
fbem-5276	81	46	�	�	PROPN
fbem-5276	81	47	t	t	PROPN
fbem-5276	81	48	i	i	PRON
fbem-5276	81	49	is	be	AUX
fbem-5276	81	50			PROPN
fbem-5276	81	51			ADJ
fbem-5276	81	52	third	third	ADJ
fbem-5276	81	53	-	-	PUNCT
fbem-5276	81	54	party	party	NOUN
fbem-5276	81	55	payment	payment	NOUN
fbem-5276	81	56	transaction	transaction	NOUN
fbem-5276	81	57	volume	volume	NOUN
fbem-5276	81	58	(	(	PUNCT
fbem-5276	81	59	e	e	NOUN
fbem-5276	81	60	)	)	PUNCT
fbem-5276	81	61	,	,	PUNCT
fbem-5276	81	62	the	the	DET
fbem-5276	81	63	thirdparty	thirdparty	PROPN
fbem-5276	81	64	payment	payment	NOUN
fbem-5276	81	65	referred	refer	VERB
fbem-5276	81	66	to	to	ADP
fbem-5276	81	67	in	in	ADP
fbem-5276	81	68	this	this	DET
fbem-5276	81	69	article	article	NOUN
fbem-5276	81	70	is	be	AUX
fbem-5276	81	71	a	a	DET
fbem-5276	81	72	narrow	narrow	ADJ
fbem-5276	81	73	concept	concept	NOUN
fbem-5276	81	74	of	of	ADP
fbem-5276	81	75	third	third	ADJ
fbem-5276	81	76	-	-	PUNCT
fbem-5276	81	77	party	party	NOUN
fbem-5276	81	78	payment	payment	NOUN
fbem-5276	81	79	,	,	PUNCT
fbem-5276	81	80	which	which	PRON
fbem-5276	81	81	only	only	ADV
fbem-5276	81	82	includes	include	VERB
fbem-5276	81	83	third	third	ADJ
fbem-5276	81	84	-	-	PUNCT
fbem-5276	81	85	party	party	NOUN
fbem-5276	81	86	mobile	mobile	ADJ
fbem-5276	81	87	payment	payment	NOUN
fbem-5276	81	88	and	and	CCONJ
fbem-5276	81	89	third	third	ADJ
fbem-5276	81	90	-	-	PUNCT
fbem-5276	81	91	party	party	NOUN
fbem-5276	81	92	online	online	ADJ
fbem-5276	81	93	payment	payment	NOUN
fbem-5276	81	94	,	,	PUNCT
fbem-5276	81	95	and	and	CCONJ
fbem-5276	81	96	selects	select	VERB
fbem-5276	81	97	the	the	DET
fbem-5276	81	98	annual	annual	ADJ
fbem-5276	81	99	data	datum	NOUN
fbem-5276	81	100	of	of	ADP
fbem-5276	81	101	third	third	ADJ
fbem-5276	81	102	-	-	PUNCT
fbem-5276	81	103	party	party	NOUN
fbem-5276	81	104	payment	payment	NOUN
fbem-5276	81	105	transaction	transaction	NOUN
fbem-5276	81	106	volume	volume	NOUN
fbem-5276	81	107	as	as	ADP
fbem-5276	81	108	an	an	DET
fbem-5276	81	109	explanatory	explanatory	ADJ
fbem-5276	81	110	variable	variable	NOUN
fbem-5276	81	111	.	.	PUNCT
fbem-5276	82	1	4	4	X
fbem-5276	82	2	.	.	X
fbem-5276	82	3	descriptive	descriptive	ADJ
fbem-5276	82	4	statistics	statistic	NOUN
fbem-5276	82	5	and	and	CCONJ
fbem-5276	82	6	empirical	empirical	ADJ
fbem-5276	82	7	analysis	analysis	NOUN
fbem-5276	82	8	according	accord	VERB
fbem-5276	82	9	to	to	ADP
fbem-5276	82	10	the	the	DET
fbem-5276	82	11	research	research	NOUN
fbem-5276	82	12	variables	variable	NOUN
fbem-5276	82	13	determined	determine	VERB
fbem-5276	82	14	in	in	ADP
fbem-5276	82	15	the	the	DET
fbem-5276	82	16	previous	previous	ADJ
fbem-5276	82	17	chapter	chapter	NOUN
fbem-5276	82	18	,	,	PUNCT
fbem-5276	82	19	a	a	DET
fbem-5276	82	20	total	total	NOUN
fbem-5276	82	21	of	of	ADP
fbem-5276	82	22	168	168	NUM
fbem-5276	82	23	groups	group	NOUN
fbem-5276	82	24	of	of	ADP
fbem-5276	82	25	relevant	relevant	ADJ
fbem-5276	82	26	research	research	NOUN
fbem-5276	82	27	samples	sample	NOUN
fbem-5276	82	28	were	be	AUX
fbem-5276	82	29	collected	collect	VERB
fbem-5276	82	30	,	,	PUNCT
fbem-5276	82	31	and	and	CCONJ
fbem-5276	82	32	the	the	DET
fbem-5276	82	33	time	time	NOUN
fbem-5276	82	34	span	span	NOUN
fbem-5276	82	35	was	be	AUX
fbem-5276	82	36	from	from	ADP
fbem-5276	82	37	2006	2006	NUM
fbem-5276	82	38	to	to	ADP
fbem-5276	82	39	2020	2020	NUM
fbem-5276	82	40	.	.	PUNCT
fbem-5276	83	1	among	among	ADP
fbem-5276	83	2	them	they	PRON
fbem-5276	83	3	,	,	PUNCT
fbem-5276	83	4	m0	m0	NOUN
fbem-5276	83	5	,	,	PUNCT
fbem-5276	83	6	m1	m1	PROPN
fbem-5276	83	7	,	,	PUNCT
fbem-5276	83	8	m2	m2	PROPN
fbem-5276	83	9	data	data	PROPN
fbem-5276	83	10	,	,	PUNCT
fbem-5276	83	11	and	and	CCONJ
fbem-5276	83	12	data	datum	NOUN
fbem-5276	83	13	related	relate	VERB
fbem-5276	83	14	to	to	ADP
fbem-5276	83	15	the	the	DET
fbem-5276	83	16	average	average	ADJ
fbem-5276	83	17	interest	interest	NOUN
fbem-5276	83	18	rate	rate	NOUN
fbem-5276	83	19	level	level	NOUN
fbem-5276	83	20	come	come	VERB
fbem-5276	83	21	from	from	ADP
fbem-5276	83	22	the	the	DET
fbem-5276	83	23	people	people	NOUN
fbem-5276	83	24	's	's	PART
fbem-5276	83	25	bank	bank	PROPN
fbem-5276	83	26	of	of	ADP
fbem-5276	83	27	china	china	PROPN
fbem-5276	83	28	.	.	PUNCT
fbem-5276	84	1	for	for	ADP
fbem-5276	84	2	the	the	DET
fbem-5276	84	3	third	third	ADJ
fbem-5276	84	4	-	-	PUNCT
fbem-5276	84	5	party	party	NOUN
fbem-5276	84	6	payment	payment	NOUN
fbem-5276	84	7	data	datum	NOUN
fbem-5276	84	8	,	,	PUNCT
fbem-5276	84	9	we	we	PRON
fbem-5276	84	10	consulted	consult	VERB
fbem-5276	84	11	iresearch	iresearch	NOUN
fbem-5276	84	12	's	's	PART
fbem-5276	84	13	third	third	ADJ
fbem-5276	84	14	-	-	PUNCT
fbem-5276	84	15	party	party	NOUN
fbem-5276	84	16	payment	payment	NOUN
fbem-5276	84	17	market	market	NOUN
fbem-5276	84	18	survey	survey	NOUN
fbem-5276	84	19	reports	report	VERB
fbem-5276	84	20	for	for	ADP
fbem-5276	84	21	each	each	DET
fbem-5276	84	22	quarter	quarter	NOUN
fbem-5276	84	23	from	from	ADP
fbem-5276	84	24	2006	2006	NUM
fbem-5276	84	25	to	to	ADP
fbem-5276	84	26	2020	2020	NUM
fbem-5276	84	27	,	,	PUNCT
fbem-5276	84	28	and	and	CCONJ
fbem-5276	84	29	obtained	obtain	VERB
fbem-5276	84	30	the	the	DET
fbem-5276	84	31	corresponding	corresponding	ADJ
fbem-5276	84	32	data	datum	NOUN
fbem-5276	84	33	on	on	ADP
fbem-5276	84	34	third	third	ADJ
fbem-5276	84	35	-	-	PUNCT
fbem-5276	84	36	party	party	NOUN
fbem-5276	84	37	payment	payment	NOUN
fbem-5276	84	38	.	.	PUNCT
fbem-5276	85	1	in	in	ADP
fbem-5276	85	2	order	order	NOUN
fbem-5276	85	3	to	to	PART
fbem-5276	85	4	reduce	reduce	VERB
fbem-5276	85	5	the	the	DET
fbem-5276	85	6	impact	impact	NOUN
fbem-5276	85	7	of	of	ADP
fbem-5276	85	8	heteroscedasticity	heteroscedasticity	NOUN
fbem-5276	85	9	on	on	ADP
fbem-5276	85	10	measurement	measurement	NOUN
fbem-5276	85	11	results	result	NOUN
fbem-5276	85	12	,	,	PUNCT
fbem-5276	85	13	logarithms	logarithm	NOUN
fbem-5276	85	14	are	be	AUX
fbem-5276	85	15	taken	take	VERB
fbem-5276	85	16	for	for	ADP
fbem-5276	85	17	monetary	monetary	ADJ
fbem-5276	85	18	data	datum	NOUN
fbem-5276	85	19	,	,	PUNCT
fbem-5276	85	20	cumulative	cumulative	ADJ
fbem-5276	85	21	industrial	industrial	ADJ
fbem-5276	85	22	growth	growth	NOUN
fbem-5276	85	23	rate	rate	NOUN
fbem-5276	85	24	and	and	CCONJ
fbem-5276	85	25	third	third	ADJ
fbem-5276	85	26	-	-	PUNCT
fbem-5276	85	27	party	party	NOUN
fbem-5276	85	28	payment	payment	NOUN
fbem-5276	85	29	.	.	PUNCT
fbem-5276	86	1	table	table	NOUN
fbem-5276	86	2	1	1	NUM
fbem-5276	86	3	.	.	PUNCT
fbem-5276	87	1	conclusions	conclusion	NOUN
fbem-5276	87	2	of	of	ADP
fbem-5276	87	3	variable	variable	ADJ
fbem-5276	87	4	descriptive	descriptive	ADJ
fbem-5276	87	5	statistics	statistic	NOUN
fbem-5276	87	6	number	number	NOUN
fbem-5276	87	7	min	min	PROPN
fbem-5276	87	8	max	max	PROPN
fbem-5276	87	9	mean	mean	VERB
fbem-5276	87	10	sd	sd	ADP
fbem-5276	87	11	cpi	cpi	PROPN
fbem-5276	87	12	168	168	NUM
fbem-5276	87	13	97.5	97.5	NUM
fbem-5276	87	14	108.1	108.1	NUM
fbem-5276	87	15	102.379	102.379	NUM
fbem-5276	87	16	1.34146	1.34146	NUM
fbem-5276	87	17	rate	rate	NOUN
fbem-5276	87	18	168	168	NUM
fbem-5276	87	19	0.81	0.81	NUM
fbem-5276	87	20	%	%	NOUN
fbem-5276	87	21	6.43	6.43	NUM
fbem-5276	87	22	%	%	NOUN
fbem-5276	87	23	2.32506	2.32506	NUM
fbem-5276	87	24	%	%	NOUN
fbem-5276	87	25	0.7704841	0.7704841	NUM
fbem-5276	87	26	%	%	NOUN
fbem-5276	87	27	lsidv	lsidv	NOUN
fbem-5276	87	28	168	168	NUM
fbem-5276	87	29	0.1781462	0.1781462	NUM
fbem-5276	87	30	%	%	NOUN
fbem-5276	87	31	16.26372	16.26372	NUM
fbem-5276	87	32	%	%	NOUN
fbem-5276	87	33	9.820082	9.820082	NUM
fbem-5276	87	34	%	%	NOUN
fbem-5276	87	35	4.761985	4.761985	NUM
fbem-5276	87	36	%	%	NOUN
fbem-5276	87	37	le	le	ADP
fbem-5276	87	38	168	168	NUM
fbem-5276	87	39	2.079442	2.079442	NUM
fbem-5276	87	40	12.37582	12.37582	NUM
fbem-5276	87	41	8.534977	8.534977	NUM
fbem-5276	87	42	2.909936	2.909936	NUM
fbem-5276	87	43	lm0	lm0	NOUN
fbem-5276	87	44	168	168	NUM
fbem-5276	87	45	10.06328	10.06328	NUM
fbem-5276	87	46	11.37906	11.37906	NUM
fbem-5276	87	47	10.79085	10.79085	NUM
fbem-5276	87	48	0.35873	0.35873	NUM
fbem-5276	87	49	lnm0	lnm0	NOUN
fbem-5276	87	50	168	168	NUM
fbem-5276	87	51	12.52184	12.52184	NUM
fbem-5276	87	52	14.46225	14.46225	NUM
fbem-5276	87	53	13.64138	13.64138	NUM
fbem-5276	87	54	0.5843606	0.5843606	NUM
fbem-5276	87	55	from	from	ADP
fbem-5276	87	56	the	the	DET
fbem-5276	87	57	results	result	NOUN
fbem-5276	87	58	of	of	ADP
fbem-5276	87	59	descriptive	descriptive	ADJ
fbem-5276	87	60	statistics	statistic	NOUN
fbem-5276	87	61	,	,	PUNCT
fbem-5276	87	62	it	it	PRON
fbem-5276	87	63	can	can	AUX
fbem-5276	87	64	be	be	AUX
fbem-5276	87	65	seen	see	VERB
fbem-5276	87	66	that	that	SCONJ
fbem-5276	87	67	the	the	DET
fbem-5276	87	68	logarithmic	logarithmic	ADJ
fbem-5276	87	69	value	value	NOUN
fbem-5276	87	70	of	of	ADP
fbem-5276	87	71	le	le	X
fbem-5276	87	72	,	,	PUNCT
fbem-5276	87	73	that	that	ADV
fbem-5276	87	74	is	is	ADV
fbem-5276	87	75	,	,	PUNCT
fbem-5276	87	76	the	the	DET
fbem-5276	87	77	third	third	ADJ
fbem-5276	87	78	-	-	PUNCT
fbem-5276	87	79	party	party	NOUN
fbem-5276	87	80	payment	payment	NOUN
fbem-5276	87	81	amount	amount	NOUN
fbem-5276	87	82	,	,	PUNCT
fbem-5276	87	83	is	be	AUX
fbem-5276	87	84	generally	generally	ADV
fbem-5276	87	85	between	between	ADP
fbem-5276	87	86	2.079442	2.079442	NUM
fbem-5276	87	87	and	and	CCONJ
fbem-5276	87	88	12.37582	12.37582	NUM
fbem-5276	87	89	,	,	PUNCT
fbem-5276	87	90	indicating	indicate	VERB
fbem-5276	87	91	that	that	SCONJ
fbem-5276	87	92	the	the	DET
fbem-5276	87	93	sample	sample	NOUN
fbem-5276	87	94	changes	change	VERB
fbem-5276	87	95	greatly	greatly	ADV
fbem-5276	87	96	.	.	PUNCT
fbem-5276	88	1	it	it	PRON
fbem-5276	88	2	shows	show	VERB
fbem-5276	88	3	that	that	SCONJ
fbem-5276	88	4	the	the	DET
fbem-5276	88	5	amount	amount	NOUN
fbem-5276	88	6	of	of	ADP
fbem-5276	88	7	third	third	ADJ
fbem-5276	88	8	-	-	PUNCT
fbem-5276	88	9	party	party	NOUN
fbem-5276	88	10	payment	payment	NOUN
fbem-5276	88	11	has	have	AUX
fbem-5276	88	12	changed	change	VERB
fbem-5276	88	13	greatly	greatly	ADV
fbem-5276	88	14	in	in	ADP
fbem-5276	88	15	the	the	DET
fbem-5276	88	16	past	past	ADJ
fbem-5276	88	17	14	14	NUM
fbem-5276	88	18	years	year	NOUN
fbem-5276	88	19	,	,	PUNCT
fbem-5276	88	20	which	which	PRON
fbem-5276	88	21	is	be	AUX
fbem-5276	88	22	beneficial	beneficial	ADJ
fbem-5276	88	23	to	to	PART
fbem-5276	88	24	obtain	obtain	VERB
fbem-5276	88	25	effective	effective	ADJ
fbem-5276	88	26	parameter	parameter	NOUN
fbem-5276	88	27	estimates	estimate	NOUN
fbem-5276	88	28	.	.	PUNCT
fbem-5276	89	1	if	if	SCONJ
fbem-5276	89	2	the	the	DET
fbem-5276	89	3	statistics	statistic	NOUN
fbem-5276	89	4	of	of	ADP
fbem-5276	89	5	a	a	DET
fbem-5276	89	6	set	set	NOUN
fbem-5276	89	7	of	of	ADP
fbem-5276	89	8	data	datum	NOUN
fbem-5276	89	9	,	,	PUNCT
fbem-5276	89	10	such	such	ADJ
fbem-5276	89	11	as	as	ADP
fbem-5276	89	12	mean	mean	NOUN
fbem-5276	89	13	value	value	NOUN
fbem-5276	89	14	,	,	PUNCT
fbem-5276	89	15	variance	variance	NOUN
fbem-5276	89	16	,	,	PUNCT
fbem-5276	89	17	and	and	CCONJ
fbem-5276	89	18	correlation	correlation	NOUN
fbem-5276	89	19	coefficient	coefficient	NOUN
fbem-5276	89	20	,	,	PUNCT
fbem-5276	89	21	do	do	AUX
fbem-5276	89	22	not	not	PART
fbem-5276	89	23	change	change	VERB
fbem-5276	89	24	over	over	ADP
fbem-5276	89	25	time	time	NOUN
fbem-5276	89	26	,	,	PUNCT
fbem-5276	89	27	it	it	PRON
fbem-5276	89	28	can	can	AUX
fbem-5276	89	29	be	be	AUX
fbem-5276	89	30	called	call	VERB
fbem-5276	89	31	stationary	stationary	ADJ
fbem-5276	89	32	data	datum	NOUN
fbem-5276	89	33	,	,	PUNCT
fbem-5276	89	34	and	and	CCONJ
fbem-5276	89	35	it	it	PRON
fbem-5276	89	36	can	can	AUX
fbem-5276	89	37	be	be	AUX
fbem-5276	89	38	directly	directly	ADV
fbem-5276	89	39	applied	apply	VERB
fbem-5276	89	40	to	to	ADP
fbem-5276	89	41	the	the	DET
fbem-5276	89	42	prediction	prediction	NOUN
fbem-5276	89	43	of	of	ADP
fbem-5276	89	44	future	future	ADJ
fbem-5276	89	45	data	datum	NOUN
fbem-5276	89	46	.	.	PUNCT
fbem-5276	90	1	however	however	ADV
fbem-5276	90	2	,	,	PUNCT
fbem-5276	90	3	most	most	ADJ
fbem-5276	90	4	time	time	NOUN
fbem-5276	90	5	series	series	PROPN
fbem-5276	90	6	data	datum	NOUN
fbem-5276	90	7	are	be	AUX
fbem-5276	90	8	not	not	PART
fbem-5276	90	9	stationary	stationary	ADJ
fbem-5276	90	10	,	,	PUNCT
fbem-5276	90	11	so	so	SCONJ
fbem-5276	90	12	it	it	PRON
fbem-5276	90	13	is	be	AUX
fbem-5276	90	14	necessary	necessary	ADJ
fbem-5276	90	15	to	to	PART
fbem-5276	90	16	conduct	conduct	VERB
fbem-5276	90	17	a	a	DET
fbem-5276	90	18	stationarity	stationarity	NOUN
fbem-5276	90	19	test	test	NOUN
fbem-5276	90	20	.	.	PUNCT
fbem-5276	91	1	the	the	DET
fbem-5276	91	2	following	follow	VERB
fbem-5276	91	3	is	be	AUX
fbem-5276	91	4	the	the	DET
fbem-5276	91	5	adf	adf	PROPN
fbem-5276	91	6	unit	unit	NOUN
fbem-5276	91	7	root	root	PROPN
fbem-5276	91	8	test	test	NOUN
fbem-5276	91	9	.	.	PUNCT
fbem-5276	92	1	the	the	DET
fbem-5276	92	2	first	first	ADJ
fbem-5276	92	3	step	step	NOUN
fbem-5276	92	4	of	of	ADP
fbem-5276	92	5	the	the	DET
fbem-5276	92	6	adf	adf	PROPN
fbem-5276	92	7	unit	unit	NOUN
fbem-5276	92	8	root	root	PROPN
fbem-5276	92	9	test	test	NOUN
fbem-5276	92	10	is	be	AUX
fbem-5276	92	11	to	to	PART
fbem-5276	92	12	analyze	analyze	VERB
fbem-5276	92	13	the	the	DET
fbem-5276	92	14	images	image	NOUN
fbem-5276	92	15	of	of	ADP
fbem-5276	92	16	the	the	DET
fbem-5276	92	17	time	time	NOUN
fbem-5276	92	18	series	series	NOUN
fbem-5276	92	19	of	of	ADP
fbem-5276	92	20	each	each	DET
fbem-5276	92	21	variable	variable	NOUN
fbem-5276	92	22	to	to	PART
fbem-5276	92	23	determine	determine	VERB
fbem-5276	92	24	whether	whether	SCONJ
fbem-5276	92	25	the	the	DET
fbem-5276	92	26	unit	unit	NOUN
fbem-5276	92	27	root	root	PROPN
fbem-5276	92	28	test	test	NOUN
fbem-5276	92	29	model	model	NOUN
fbem-5276	92	30	contains	contain	VERB
fbem-5276	92	31	intercept	intercept	NOUN
fbem-5276	92	32	items	item	NOUN
fbem-5276	92	33	and	and	CCONJ
fbem-5276	92	34	trend	trend	NOUN
fbem-5276	92	35	items	item	NOUN
fbem-5276	92	36	.	.	PUNCT
fbem-5276	93	1	figure	figure	NOUN
fbem-5276	93	2	5	5	NUM
fbem-5276	93	3	.	.	PUNCT
fbem-5276	93	4	fluctuation	fluctuation	NOUN
fbem-5276	93	5	characteristic	characteristic	ADJ
fbem-5276	93	6	diagrams	diagram	NOUN
fbem-5276	93	7	of	of	ADP
fbem-5276	93	8	lnm0	lnm0	PROPN
fbem-5276	93	9	,	,	PUNCT
fbem-5276	93	10	lm0	lm0	PROPN
fbem-5276	93	11	,	,	PUNCT
fbem-5276	93	12	lsidv	lsidv	PROPN
fbem-5276	93	13	,	,	PUNCT
fbem-5276	93	14	le	le	X
fbem-5276	93	15	49	49	NUM
fbem-5276	93	16	observing	observe	VERB
fbem-5276	93	17	the	the	DET
fbem-5276	93	18	fluctuation	fluctuation	NOUN
fbem-5276	93	19	feature	feature	NOUN
fbem-5276	93	20	map	map	NOUN
fbem-5276	93	21	shows	show	VERB
fbem-5276	93	22	that	that	SCONJ
fbem-5276	93	23	there	there	PRON
fbem-5276	93	24	should	should	AUX
fbem-5276	93	25	be	be	AUX
fbem-5276	93	26	trend	trend	NOUN
fbem-5276	93	27	items	item	NOUN
fbem-5276	93	28	in	in	ADP
fbem-5276	93	29	the	the	DET
fbem-5276	93	30	above	above	ADJ
fbem-5276	93	31	four	four	NUM
fbem-5276	93	32	variables	variable	NOUN
fbem-5276	93	33	,	,	PUNCT
fbem-5276	93	34	and	and	CCONJ
fbem-5276	93	35	there	there	PRON
fbem-5276	93	36	is	be	VERB
fbem-5276	93	37	no	no	DET
fbem-5276	93	38	intercept	intercept	NOUN
fbem-5276	93	39	item	item	NOUN
fbem-5276	93	40	from	from	ADP
fbem-5276	93	41	the	the	DET
fbem-5276	93	42	graph	graph	NOUN
fbem-5276	93	43	.	.	PUNCT
fbem-5276	94	1	the	the	DET
fbem-5276	94	2	following	follow	VERB
fbem-5276	94	3	table	table	NOUN
fbem-5276	94	4	is	be	AUX
fbem-5276	94	5	the	the	DET
fbem-5276	94	6	test	test	NOUN
fbem-5276	94	7	result	result	NOUN
fbem-5276	94	8	table	table	NOUN
fbem-5276	94	9	of	of	ADP
fbem-5276	94	10	adf	adf	NOUN
fbem-5276	94	11	table	table	NOUN
fbem-5276	94	12	2	2	NUM
fbem-5276	94	13	.	.	PUNCT
fbem-5276	95	1	adf	adf	NOUN
fbem-5276	95	2	test	test	NOUN
fbem-5276	95	3	results	result	NOUN
fbem-5276	95	4	number	number	NOUN
fbem-5276	95	5	5	5	NUM
fbem-5276	95	6	%	%	NOUN
fbem-5276	95	7	critical	critical	ADJ
fbem-5276	95	8	level	level	NOUN
fbem-5276	95	9	p	p	NOUN
fbem-5276	95	10	value	value	NOUN
fbem-5276	95	11	conclusion	conclusion	NOUN
fbem-5276	95	12	cpi	cpi	PROPN
fbem-5276	95	13	-2.020	-2.020	PUNCT
fbem-5276	95	14	-2.886	-2.886	PUNCT
fbem-5276	95	15	0.2779	0.2779	NUM
fbem-5276	95	16	non	non	ADJ
fbem-5276	95	17	-	-	ADJ
fbem-5276	95	18	stationary	stationary	ADJ
fbem-5276	95	19	rate	rate	NOUN
fbem-5276	95	20	-4.953	-4.953	PUNCT
fbem-5276	95	21	-2.886	-2.886	SYM
fbem-5276	95	22	0.000	0.000	NUM
fbem-5276	95	23	stationary	stationary	ADJ
fbem-5276	95	24	lsidv	lsidv	NOUN
fbem-5276	95	25	-16.475	-16.475	X
fbem-5276	96	1	-2.886	-2.886	PUNCT
fbem-5276	96	2	0.000	0.000	NUM
fbem-5276	96	3	stationary	stationary	NOUN
fbem-5276	96	4	le	le	X
fbem-5276	96	5	-2.489	-2.489	X
fbem-5276	96	6	-2.886	-2.886	X
fbem-5276	96	7	0.1181	0.1181	NUM
fbem-5276	96	8	non	non	ADJ
fbem-5276	96	9	-	-	ADJ
fbem-5276	96	10	stationary	stationary	ADJ
fbem-5276	96	11	lm0	lm0	NOUN
fbem-5276	96	12	-1.321	-1.321	X
fbem-5276	96	13	-2.886	-2.886	PUNCT
fbem-5276	96	14	0.6195	0.6195	NUM
fbem-5276	96	15	non	non	ADJ
fbem-5276	96	16	-	-	ADJ
fbem-5276	96	17	stationary	stationary	ADJ
fbem-5276	96	18	lnm0	lnm0	NOUN
fbem-5276	96	19	-2.551	-2.551	PUNCT
fbem-5276	96	20	-2.886	-2.886	PUNCT
fbem-5276	96	21	0.1036	0.1036	NUM
fbem-5276	96	22	non	non	ADJ
fbem-5276	96	23	-	-	ADJ
fbem-5276	96	24	stationary	stationary	ADJ
fbem-5276	96	25	d(cpi	d(cpi	NOUN
fbem-5276	96	26	)	)	PUNCT
fbem-5276	96	27	-3.029	-3.029	PUNCT
fbem-5276	96	28	-2.886	-2.886	PUNCT
fbem-5276	96	29	0.0323	0.0323	NUM
fbem-5276	96	30	stationary	stationary	ADJ
fbem-5276	96	31	d(le	d(le	NOUN
fbem-5276	96	32	)	)	PUNCT
fbem-5276	96	33	-3.145	-3.145	PROPN
fbem-5276	96	34	-2.886	-2.886	PUNCT
fbem-5276	97	1	0.0234	0.0234	NUM
fbem-5276	97	2	stationary	stationary	ADJ
fbem-5276	97	3	d(lmo	d(lmo	PROPN
fbem-5276	97	4	)	)	PUNCT
fbem-5276	97	5	-3.797	-3.797	PUNCT
fbem-5276	97	6	-2.886	-2.886	PUNCT
fbem-5276	97	7	0.0029	0.0029	NUM
fbem-5276	97	8	stationary	stationary	ADJ
fbem-5276	97	9	d(lnmo	d(lnmo	PROPN
fbem-5276	97	10	)	)	PUNCT
fbem-5276	97	11	-3.887	-3.887	PROPN
fbem-5276	97	12	-2.886	-2.886	PUNCT
fbem-5276	97	13	0.0021	0.0021	NUM
fbem-5276	97	14	stationary	stationary	NOUN
fbem-5276	97	15	from	from	ADP
fbem-5276	97	16	the	the	DET
fbem-5276	97	17	adf	adf	PROPN
fbem-5276	97	18	test	test	NOUN
fbem-5276	97	19	,	,	PUNCT
fbem-5276	97	20	it	it	PRON
fbem-5276	97	21	can	can	AUX
fbem-5276	97	22	be	be	AUX
fbem-5276	97	23	seen	see	VERB
fbem-5276	97	24	that	that	SCONJ
fbem-5276	97	25	the	the	DET
fbem-5276	97	26	time	time	NOUN
fbem-5276	97	27	series	series	NOUN
fbem-5276	97	28	represented	represent	VERB
fbem-5276	97	29	by	by	ADP
fbem-5276	97	30	the	the	DET
fbem-5276	97	31	four	four	NUM
fbem-5276	97	32	groups	group	NOUN
fbem-5276	97	33	of	of	ADP
fbem-5276	97	34	variables	variables	PROPN
fbem-5276	97	35	cpi	cpi	PROPN
fbem-5276	97	36	,	,	PUNCT
fbem-5276	97	37	le	le	X
fbem-5276	97	38	,	,	PUNCT
fbem-5276	97	39	lmo	lmo	PROPN
fbem-5276	97	40	,	,	PUNCT
fbem-5276	97	41	and	and	CCONJ
fbem-5276	97	42	lnmo	lnmo	NOUN
fbem-5276	97	43	have	have	VERB
fbem-5276	97	44	unit	unit	NOUN
fbem-5276	97	45	roots	root	NOUN
fbem-5276	97	46	and	and	CCONJ
fbem-5276	97	47	are	be	AUX
fbem-5276	97	48	non	non	ADJ
fbem-5276	97	49	-	-	ADJ
fbem-5276	97	50	stationary	stationary	ADJ
fbem-5276	97	51	time	time	NOUN
fbem-5276	97	52	series	series	NOUN
fbem-5276	97	53	.	.	PUNCT
fbem-5276	98	1	after	after	ADP
fbem-5276	98	2	the	the	DET
fbem-5276	98	3	first	first	ADJ
fbem-5276	98	4	difference	difference	NOUN
fbem-5276	98	5	,	,	PUNCT
fbem-5276	98	6	it	it	PRON
fbem-5276	98	7	appears	appear	VERB
fbem-5276	98	8	to	to	PART
fbem-5276	98	9	be	be	AUX
fbem-5276	98	10	stationary	stationary	ADJ
fbem-5276	98	11	.	.	PUNCT
fbem-5276	99	1	the	the	DET
fbem-5276	99	2	cointegration	cointegration	NOUN
fbem-5276	99	3	relationship	relationship	NOUN
fbem-5276	99	4	means	mean	VERB
fbem-5276	99	5	that	that	SCONJ
fbem-5276	99	6	the	the	DET
fbem-5276	99	7	linear	linear	ADJ
fbem-5276	99	8	combination	combination	NOUN
fbem-5276	99	9	of	of	ADP
fbem-5276	99	10	multiple	multiple	ADJ
fbem-5276	99	11	non	non	ADJ
fbem-5276	99	12	-	-	ADJ
fbem-5276	99	13	stationary	stationary	ADJ
fbem-5276	99	14	time	time	NOUN
fbem-5276	99	15	series	series	NOUN
fbem-5276	99	16	integrated	integrate	VERB
fbem-5276	99	17	with	with	ADP
fbem-5276	99	18	the	the	DET
fbem-5276	99	19	same	same	ADJ
fbem-5276	99	20	order	order	NOUN
fbem-5276	99	21	is	be	AUX
fbem-5276	99	22	stable	stable	ADJ
fbem-5276	99	23	.	.	PUNCT
fbem-5276	100	1	explain	explain	VERB
fbem-5276	100	2	that	that	SCONJ
fbem-5276	100	3	the	the	DET
fbem-5276	100	4	relationship	relationship	NOUN
fbem-5276	100	5	between	between	ADP
fbem-5276	100	6	some	some	DET
fbem-5276	100	7	variables	variable	NOUN
fbem-5276	100	8	in	in	ADP
fbem-5276	100	9	the	the	DET
fbem-5276	100	10	economic	economic	ADJ
fbem-5276	100	11	system	system	NOUN
fbem-5276	100	12	is	be	AUX
fbem-5276	100	13	balanced	balance	VERB
fbem-5276	100	14	in	in	ADP
fbem-5276	100	15	the	the	DET
fbem-5276	100	16	long	long	ADJ
fbem-5276	100	17	run	run	NOUN
fbem-5276	100	18	.	.	PUNCT
fbem-5276	101	1	this	this	DET
fbem-5276	101	2	paper	paper	NOUN
fbem-5276	101	3	chooses	choose	VERB
fbem-5276	101	4	the	the	DET
fbem-5276	101	5	johansen	johansen	PROPN
fbem-5276	101	6	test	test	NOUN
fbem-5276	101	7	,	,	PUNCT
fbem-5276	101	8	that	that	ADV
fbem-5276	101	9	is	is	ADV
fbem-5276	101	10	,	,	PUNCT
fbem-5276	101	11	to	to	PART
fbem-5276	101	12	test	test	VERB
fbem-5276	101	13	based	base	VERB
fbem-5276	101	14	on	on	ADP
fbem-5276	101	15	the	the	DET
fbem-5276	101	16	regression	regression	NOUN
fbem-5276	101	17	coefficient	coefficient	NOUN
fbem-5276	101	18	.	.	PUNCT
fbem-5276	102	1	the	the	DET
fbem-5276	102	2	johansen	johansen	PROPN
fbem-5276	102	3	test	test	NOUN
fbem-5276	102	4	is	be	AUX
fbem-5276	102	5	essentially	essentially	ADV
fbem-5276	102	6	the	the	DET
fbem-5276	102	7	rank	rank	NOUN
fbem-5276	102	8	of	of	ADP
fbem-5276	102	9	the	the	DET
fbem-5276	102	10	test	test	NOUN
fbem-5276	102	11	matrix	matrix	NOUN
fbem-5276	102	12	.	.	PUNCT
fbem-5276	103	1	if	if	SCONJ
fbem-5276	103	2	the	the	DET
fbem-5276	103	3	matrix	matrix	NOUN
fbem-5276	103	4	is	be	AUX
fbem-5276	103	5	full	full	ADJ
fbem-5276	103	6	rank	rank	NOUN
fbem-5276	103	7	,	,	PUNCT
fbem-5276	103	8	it	it	PRON
fbem-5276	103	9	means	mean	VERB
fbem-5276	103	10	that	that	SCONJ
fbem-5276	103	11	the	the	DET
fbem-5276	103	12	var	var	NOUN
fbem-5276	103	13	equation	equation	NOUN
fbem-5276	103	14	of	of	ADP
fbem-5276	103	15	the	the	DET
fbem-5276	103	16	matrix	matrix	NOUN
fbem-5276	103	17	is	be	AUX
fbem-5276	103	18	stable	stable	ADJ
fbem-5276	103	19	.	.	PUNCT
fbem-5276	104	1	if	if	SCONJ
fbem-5276	104	2	the	the	DET
fbem-5276	104	3	rank	rank	NOUN
fbem-5276	104	4	s	s	PROPN
fbem-5276	104	5	<	<	X
fbem-5276	104	6	n	n	CCONJ
fbem-5276	104	7	,	,	PUNCT
fbem-5276	104	8	it	it	PRON
fbem-5276	104	9	means	mean	VERB
fbem-5276	104	10	that	that	SCONJ
fbem-5276	104	11	there	there	PRON
fbem-5276	104	12	are	be	VERB
fbem-5276	104	13	s	s	NOUN
fbem-5276	104	14	cointegration	cointegration	NOUN
fbem-5276	104	15	.	.	PUNCT
fbem-5276	105	1	the	the	DET
fbem-5276	105	2	cointegration	cointegration	NOUN
fbem-5276	105	3	equation	equation	NOUN
fbem-5276	105	4	obtained	obtain	VERB
fbem-5276	105	5	from	from	ADP
fbem-5276	105	6	this	this	DET
fbem-5276	105	7	test	test	NOUN
fbem-5276	105	8	is	be	AUX
fbem-5276	105	9	as	as	SCONJ
fbem-5276	105	10	follows	follow	VERB
fbem-5276	105	11	:	:	PUNCT
fbem-5276	105	12	lnmo=13.08154	lnmo=13.08154	VERB
fbem-5276	105	13	+	+	NOUN
fbem-5276	105	14	0.0170962le	0.0170962le	NUM
fbem-5276	106	1	lmo=-10.55762	lmo=-10.55762	ADJ
fbem-5276	106	2	-	-	PUNCT
fbem-5276	106	3	0.0451579le	0.0451579le	NUM
fbem-5276	106	4	table	table	NOUN
fbem-5276	106	5	3	3	X
fbem-5276	106	6	.	.	PUNCT
fbem-5276	107	1	johansen	johansen	PROPN
fbem-5276	107	2	test	test	PROPN
fbem-5276	107	3	results	result	VERB
fbem-5276	107	4	maximum	maximum	ADJ
fbem-5276	107	5	parms	parm	NOUN
fbem-5276	107	6	ll	ll	AUX
fbem-5276	107	7	eigenvalue	eigenvalue	VERB
fbem-5276	107	8	statistic	statistic	NOUN
fbem-5276	107	9	5	5	NUM
fbem-5276	107	10	%	%	NOUN
fbem-5276	107	11	critical	critical	ADJ
fbem-5276	107	12	value	value	NOUN
fbem-5276	107	13	0	0	NUM
fbem-5276	107	14	48	48	NUM
fbem-5276	107	15	955.789	955.789	NUM
fbem-5276	107	16	.	.	PUNCT
fbem-5276	108	1	196.8520	196.8520	NUM
fbem-5276	108	2	104.94	104.94	NUM
fbem-5276	108	3	1	1	NUM
fbem-5276	108	4	59	59	NUM
fbem-5276	108	5	1006.2253	1006.2253	NUM
fbem-5276	108	6	0.45537	0.45537	NUM
fbem-5276	108	7	95.9809	95.9809	NUM
fbem-5276	108	8	77.74	77.74	NUM
fbem-5276	108	9	2	2	NUM
fbem-5276	108	10	68	68	NUM
fbem-5276	108	11	1024.9032	1024.9032	NUM
fbem-5276	108	12	0.20151	0.20151	NUM
fbem-5276	108	13	58.6552	58.6552	NUM
fbem-5276	108	14	54.64	54.64	NUM
fbem-5276	108	15	3	3	NUM
fbem-5276	108	16	75	75	NUM
fbem-5276	108	17	1039.8534	1039.8534	NUM
fbem-5276	108	18	0.16465	0.16465	NUM
fbem-5276	108	19	28.7609	28.7609	NUM
fbem-5276	108	20	*	*	SYM
fbem-5276	108	21	34.55	34.55	NUM
fbem-5276	108	22	4	4	NUM
fbem-5276	108	23	80	80	NUM
fbem-5276	108	24	1047.9588	1047.9588	NUM
fbem-5276	108	25	0.09324	0.09324	NUM
fbem-5276	108	26	12.5140	12.5140	NUM
fbem-5276	108	27	18.17	18.17	NUM
fbem-5276	108	28	5	5	NUM
fbem-5276	108	29	83	83	NUM
fbem-5276	108	30	1054.0944	1054.0944	NUM
fbem-5276	108	31	0.07126	0.07126	NUM
fbem-5276	108	32	0.2428	0.2428	NUM
fbem-5276	108	33	3.74	3.74	NUM
fbem-5276	108	34	6	6	NUM
fbem-5276	108	35	84	84	NUM
fbem-5276	108	36	1054.2158	1054.2158	NUM
fbem-5276	108	37	0.00146	0.00146	NUM
fbem-5276	108	38	.	.	PUNCT
fbem-5276	108	39	.	.	PUNCT
fbem-5276	109	1	that	that	PRON
fbem-5276	109	2	is	be	AUX
fbem-5276	109	3	to	to	PART
fbem-5276	109	4	say	say	VERB
fbem-5276	109	5	,	,	PUNCT
fbem-5276	109	6	it	it	PRON
fbem-5276	109	7	can	can	AUX
fbem-5276	109	8	be	be	AUX
fbem-5276	109	9	seen	see	VERB
fbem-5276	109	10	that	that	SCONJ
fbem-5276	109	11	in	in	ADP
fbem-5276	109	12	the	the	DET
fbem-5276	109	13	long	long	ADJ
fbem-5276	109	14	-	-	PUNCT
fbem-5276	109	15	term	term	NOUN
fbem-5276	109	16	,	,	PUNCT
fbem-5276	109	17	thirdparty	thirdparty	NOUN
fbem-5276	109	18	payment	payment	NOUN
fbem-5276	109	19	and	and	CCONJ
fbem-5276	109	20	non	non	ADJ
fbem-5276	109	21	-	-	ADJ
fbem-5276	109	22	cash	cash	ADJ
fbem-5276	109	23	money	money	NOUN
fbem-5276	109	24	demand	demand	NOUN
fbem-5276	109	25	change	change	NOUN
fbem-5276	109	26	positively	positively	ADV
fbem-5276	109	27	,	,	PUNCT
fbem-5276	109	28	while	while	SCONJ
fbem-5276	109	29	cash	cash	NOUN
fbem-5276	109	30	money	money	NOUN
fbem-5276	109	31	demand	demand	NOUN
fbem-5276	109	32	changes	change	VERB
fbem-5276	109	33	negatively	negatively	ADV
fbem-5276	109	34	.	.	PUNCT
fbem-5276	110	1	and	and	CCONJ
fbem-5276	110	2	the	the	DET
fbem-5276	110	3	stata	stata	NOUN
fbem-5276	110	4	results	result	NOUN
fbem-5276	110	5	show	show	VERB
fbem-5276	110	6	that	that	SCONJ
fbem-5276	110	7	there	there	PRON
fbem-5276	110	8	are	be	VERB
fbem-5276	110	9	only	only	ADV
fbem-5276	110	10	three	three	NUM
fbem-5276	110	11	linearly	linearly	ADV
fbem-5276	110	12	independent	independent	ADJ
fbem-5276	110	13	co	co	NOUN
fbem-5276	110	14	-	-	NOUN
fbem-5276	110	15	integration	integration	NOUN
fbem-5276	110	16	variables	variable	NOUN
fbem-5276	110	17	.	.	PUNCT
fbem-5276	111	1	the	the	DET
fbem-5276	111	2	largest	large	ADJ
fbem-5276	111	3	eigenvalue	eigenvalue	ADJ
fbem-5276	111	4	test	test	NOUN
fbem-5276	111	5	shows	show	VERB
fbem-5276	111	6	that	that	SCONJ
fbem-5276	111	7	the	the	DET
fbem-5276	111	8	null	null	ADJ
fbem-5276	111	9	hypothesis	hypothesis	NOUN
fbem-5276	111	10	that	that	PRON
fbem-5276	111	11	the	the	DET
fbem-5276	111	12	"	"	PUNCT
fbem-5276	111	13	cointegration	cointegration	NOUN
fbem-5276	111	14	rank	rank	NOUN
fbem-5276	111	15	"	"	PUNCT
fbem-5276	111	16	is	be	AUX
fbem-5276	111	17	0	0	NUM
fbem-5276	111	18	can	can	AUX
fbem-5276	111	19	be	be	AUX
fbem-5276	111	20	rejected	reject	VERB
fbem-5276	111	21	at	at	ADP
fbem-5276	111	22	the	the	DET
fbem-5276	111	23	level	level	NOUN
fbem-5276	111	24	of	of	ADP
fbem-5276	111	25	5	5	NUM
fbem-5276	111	26	%	%	NOUN
fbem-5276	111	27	,	,	PUNCT
fbem-5276	111	28	but	but	CCONJ
fbem-5276	111	29	the	the	DET
fbem-5276	111	30	null	null	ADJ
fbem-5276	111	31	hypothesis	hypothesis	NOUN
fbem-5276	111	32	that	that	PRON
fbem-5276	111	33	the	the	DET
fbem-5276	111	34	"	"	PUNCT
fbem-5276	111	35	cointegration	cointegration	NOUN
fbem-5276	111	36	rank	rank	NOUN
fbem-5276	111	37	"	"	PUNCT
fbem-5276	111	38	is	be	AUX
fbem-5276	111	39	3	3	NUM
fbem-5276	111	40	can	can	AUX
fbem-5276	111	41	not	not	PART
fbem-5276	111	42	be	be	AUX
fbem-5276	111	43	rejected	reject	VERB
fbem-5276	111	44	.	.	PUNCT
fbem-5276	112	1	at	at	ADP
fbem-5276	112	2	the	the	DET
fbem-5276	112	3	same	same	ADJ
fbem-5276	112	4	time	time	NOUN
fbem-5276	112	5	,	,	PUNCT
fbem-5276	112	6	the	the	DET
fbem-5276	112	7	vector	vector	NOUN
fbem-5276	112	8	error	error	NOUN
fbem-5276	112	9	correction	correction	NOUN
fbem-5276	112	10	model	model	NOUN
fbem-5276	112	11	of	of	ADP
fbem-5276	112	12	the	the	DET
fbem-5276	112	13	system	system	NOUN
fbem-5276	112	14	is	be	AUX
fbem-5276	112	15	estimated	estimate	VERB
fbem-5276	112	16	by	by	ADP
fbem-5276	112	17	johansen	johansen	PROPN
fbem-5276	112	18	's	's	PART
fbem-5276	112	19	mle	mle	PROPN
fbem-5276	112	20	method	method	NOUN
fbem-5276	112	21	.	.	PUNCT
fbem-5276	113	1	the	the	DET
fbem-5276	113	2	error	error	NOUN
fbem-5276	113	3	correction	correction	NOUN
fbem-5276	113	4	model	model	NOUN
fbem-5276	113	5	is	be	AUX
fbem-5276	113	6	a	a	DET
fbem-5276	113	7	hybrid	hybrid	ADJ
fbem-5276	113	8	model	model	NOUN
fbem-5276	113	9	that	that	PRON
fbem-5276	113	10	integrates	integrate	VERB
fbem-5276	113	11	longterm	longterm	ADJ
fbem-5276	113	12	impacts	impact	NOUN
fbem-5276	113	13	and	and	CCONJ
fbem-5276	113	14	short	short	ADJ
fbem-5276	113	15	-	-	PUNCT
fbem-5276	113	16	term	term	NOUN
fbem-5276	113	17	shocks	shock	NOUN
fbem-5276	113	18	,	,	PUNCT
fbem-5276	113	19	and	and	CCONJ
fbem-5276	113	20	avoids	avoid	VERB
fbem-5276	113	21	short	short	ADJ
fbem-5276	113	22	-	-	PUNCT
fbem-5276	113	23	term	term	NOUN
fbem-5276	113	24	fluctuations	fluctuation	NOUN
fbem-5276	113	25	by	by	ADP
fbem-5276	113	26	taking	take	VERB
fbem-5276	113	27	into	into	ADP
fbem-5276	113	28	account	account	NOUN
fbem-5276	113	29	seasonal	seasonal	ADJ
fbem-5276	113	30	factors	factor	NOUN
fbem-5276	113	31	and	and	CCONJ
fbem-5276	113	32	the	the	DET
fbem-5276	113	33	interference	interference	NOUN
fbem-5276	113	34	of	of	ADP
fbem-5276	113	35	unexpected	unexpected	ADJ
fbem-5276	113	36	situations	situation	NOUN
fbem-5276	113	37	.	.	PUNCT
fbem-5276	114	1	the	the	DET
fbem-5276	114	2	following	follow	VERB
fbem-5276	114	3	figure	figure	NOUN
fbem-5276	114	4	is	be	AUX
fbem-5276	114	5	the	the	DET
fbem-5276	114	6	error	error	NOUN
fbem-5276	114	7	correction	correction	NOUN
fbem-5276	114	8	model	model	NOUN
fbem-5276	114	9	:	:	PUNCT
fbem-5276	114	10	table	table	NOUN
fbem-5276	114	11	4	4	NUM
fbem-5276	114	12	.	.	PUNCT
fbem-5276	114	13	error	error	NOUN
fbem-5276	114	14	correction	correction	NOUN
fbem-5276	114	15	model	model	NOUN
fbem-5276	114	16	lnmo	lnmo	NOUN
fbem-5276	114	17	lmo	lmo	VERB
fbem-5276	114	18	constant	constant	ADJ
fbem-5276	114	19	term	term	NOUN
fbem-5276	114	20	-0.0770982	-0.0770982	NOUN
fbem-5276	114	21	(	(	PUNCT
fbem-5276	114	22	0.1059144	0.1059144	NUM
fbem-5276	114	23	)	)	PUNCT
fbem-5276	114	24	0.009951	0.009951	NUM
fbem-5276	114	25	(	(	PUNCT
fbem-5276	114	26	0.0116853	0.0116853	NUM
fbem-5276	114	27	)	)	PUNCT
fbem-5276	114	28	d(le	d(le	PROPN
fbem-5276	114	29	)	)	PUNCT
fbem-5276	114	30	0.2068370	0.2068370	NUM
fbem-5276	114	31	(	(	PUNCT
fbem-5276	114	32	0.078031	0.078031	NUM
fbem-5276	114	33	)	)	PUNCT
fbem-5276	114	34	*	*	PUNCT
fbem-5276	114	35	-0.2228421	-0.2228421	X
fbem-5276	114	36	(	(	PUNCT
fbem-5276	114	37	0.0779587	0.0779587	NUM
fbem-5276	114	38	)	)	PUNCT
fbem-5276	114	39	*	*	PUNCT
fbem-5276	114	40	et(-1	et(-1	PROPN
fbem-5276	114	41	)	)	PUNCT
fbem-5276	114	42	0.799097	0.799097	NUM
fbem-5276	114	43	(	(	PUNCT
fbem-5276	114	44	0.0477953	0.0477953	NUM
fbem-5276	114	45	)	)	PUNCT
fbem-5276	114	46	*	*	PUNCT
fbem-5276	115	1	0.1390847	0.1390847	NUM
fbem-5276	115	2	(	(	PUNCT
fbem-5276	115	3	0.0564201	0.0564201	NUM
fbem-5276	115	4	)	)	PUNCT
fbem-5276	115	5	*	*	PUNCT
fbem-5276	115	6	at	at	ADP
fbem-5276	115	7	the	the	DET
fbem-5276	115	8	5	5	NUM
fbem-5276	115	9	%	%	NOUN
fbem-5276	115	10	significance	significance	NOUN
fbem-5276	115	11	level	level	NOUN
fbem-5276	115	12	,	,	PUNCT
fbem-5276	115	13	the	the	DET
fbem-5276	115	14	error	error	NOUN
fbem-5276	115	15	correction	correction	NOUN
fbem-5276	115	16	terms	term	NOUN
fbem-5276	115	17	are	be	AUX
fbem-5276	115	18	all	all	ADV
fbem-5276	115	19	significant	significant	ADJ
fbem-5276	115	20	.	.	PUNCT
fbem-5276	116	1	it	it	PRON
fbem-5276	116	2	shows	show	VERB
fbem-5276	116	3	that	that	SCONJ
fbem-5276	116	4	in	in	ADP
fbem-5276	116	5	the	the	DET
fbem-5276	116	6	long	long	ADJ
fbem-5276	116	7	run	run	NOUN
fbem-5276	116	8	,	,	PUNCT
fbem-5276	116	9	the	the	DET
fbem-5276	116	10	disequilibrium	disequilibrium	NOUN
fbem-5276	116	11	will	will	AUX
fbem-5276	116	12	return	return	VERB
fbem-5276	116	13	to	to	ADP
fbem-5276	116	14	the	the	DET
fbem-5276	116	15	equilibrium	equilibrium	NOUN
fbem-5276	116	16	state	state	NOUN
fbem-5276	116	17	.	.	PUNCT
fbem-5276	117	1	when	when	SCONJ
fbem-5276	117	2	dlnmo	dlnmo	ADJ
fbem-5276	117	3	and	and	CCONJ
fbem-5276	117	4	dlmo	dlmo	NOUN
fbem-5276	117	5	were	be	AUX
fbem-5276	117	6	the	the	DET
fbem-5276	117	7	explained	explain	VERB
fbem-5276	117	8	variables	variable	NOUN
fbem-5276	117	9	,	,	PUNCT
fbem-5276	117	10	the	the	DET
fbem-5276	117	11	coefficients	coefficient	NOUN
fbem-5276	117	12	before	before	SCONJ
fbem-5276	117	13	dle	dle	PROPN
fbem-5276	117	14	were	be	AUX
fbem-5276	117	15	greater	great	ADJ
fbem-5276	117	16	than	than	ADP
fbem-5276	117	17	0	0	NUM
fbem-5276	117	18	and	and	CCONJ
fbem-5276	117	19	less	less	ADJ
fbem-5276	117	20	than	than	ADP
fbem-5276	117	21	0	0	NUM
fbem-5276	117	22	,	,	PUNCT
fbem-5276	117	23	and	and	CCONJ
fbem-5276	117	24	the	the	DET
fbem-5276	117	25	corresponding	correspond	VERB
fbem-5276	117	26	p	p	NOUN
fbem-5276	117	27	values	value	NOUN
fbem-5276	117	28	were	be	AUX
fbem-5276	117	29	all	all	ADV
fbem-5276	117	30	less	less	ADJ
fbem-5276	117	31	than	than	ADP
fbem-5276	117	32	0.05	0.05	NUM
fbem-5276	117	33	.	.	PUNCT
fbem-5276	118	1	this	this	PRON
fbem-5276	118	2	shows	show	VERB
fbem-5276	118	3	that	that	SCONJ
fbem-5276	118	4	the	the	DET
fbem-5276	118	5	level	level	NOUN
fbem-5276	118	6	of	of	ADP
fbem-5276	118	7	third	third	ADJ
fbem-5276	118	8	-	-	PUNCT
fbem-5276	118	9	party	party	NOUN
fbem-5276	118	10	payment	payment	NOUN
fbem-5276	118	11	has	have	VERB
fbem-5276	118	12	a	a	DET
fbem-5276	118	13	significant	significant	ADJ
fbem-5276	118	14	decreasing	decrease	VERB
fbem-5276	118	15	effect	effect	NOUN
fbem-5276	118	16	on	on	ADP
fbem-5276	118	17	the	the	DET
fbem-5276	118	18	demand	demand	NOUN
fbem-5276	118	19	for	for	ADP
fbem-5276	118	20	cash	cash	NOUN
fbem-5276	118	21	money	money	NOUN
fbem-5276	118	22	,	,	PUNCT
fbem-5276	118	23	while	while	SCONJ
fbem-5276	118	24	it	it	PRON
fbem-5276	118	25	has	have	VERB
fbem-5276	118	26	a	a	DET
fbem-5276	118	27	significant	significant	ADJ
fbem-5276	118	28	increasing	increase	VERB
fbem-5276	118	29	effect	effect	NOUN
fbem-5276	118	30	on	on	ADP
fbem-5276	118	31	the	the	DET
fbem-5276	118	32	demand	demand	NOUN
fbem-5276	118	33	for	for	ADP
fbem-5276	118	34	non	non	ADJ
fbem-5276	118	35	-	-	ADJ
fbem-5276	118	36	cash	cash	ADJ
fbem-5276	118	37	money	money	NOUN
fbem-5276	118	38	.	.	PUNCT
fbem-5276	119	1	granger	granger	PROPN
fbem-5276	119	2	causality	causality	PROPN
fbem-5276	119	3	test	test	NOUN
fbem-5276	119	4	is	be	AUX
fbem-5276	119	5	used	use	VERB
fbem-5276	119	6	to	to	PART
fbem-5276	119	7	detect	detect	VERB
fbem-5276	119	8	the	the	DET
fbem-5276	119	9	causal	causal	ADJ
fbem-5276	119	10	relationship	relationship	NOUN
fbem-5276	119	11	between	between	ADP
fbem-5276	119	12	variables	variable	NOUN
fbem-5276	119	13	,	,	PUNCT
fbem-5276	119	14	and	and	CCONJ
fbem-5276	119	15	to	to	PART
fbem-5276	119	16	explain	explain	VERB
fbem-5276	119	17	the	the	DET
fbem-5276	119	18	position	position	NOUN
fbem-5276	119	19	of	of	ADP
fbem-5276	119	20	the	the	DET
fbem-5276	119	21	causal	causal	ADJ
fbem-5276	119	22	relationship	relationship	NOUN
fbem-5276	119	23	between	between	ADP
fbem-5276	119	24	the	the	DET
fbem-5276	119	25	two	two	NUM
fbem-5276	119	26	.	.	PUNCT
fbem-5276	120	1	to	to	PART
fbem-5276	120	2	establish	establish	VERB
fbem-5276	120	3	the	the	DET
fbem-5276	120	4	granger	granger	PROPN
fbem-5276	120	5	causality	causality	PROPN
fbem-5276	120	6	test	test	NOUN
fbem-5276	120	7	,	,	PUNCT
fbem-5276	120	8	the	the	DET
fbem-5276	120	9	data	data	NOUN
fbem-5276	120	10	group	group	NOUN
fbem-5276	120	11	is	be	AUX
fbem-5276	120	12	required	require	VERB
fbem-5276	120	13	to	to	PART
fbem-5276	120	14	be	be	AUX
fbem-5276	120	15	stable	stable	ADJ
fbem-5276	120	16	in	in	ADP
fbem-5276	120	17	time	time	NOUN
fbem-5276	120	18	series	series	NOUN
fbem-5276	120	19	,	,	PUNCT
fbem-5276	120	20	so	so	SCONJ
fbem-5276	120	21	the	the	DET
fbem-5276	120	22	var	var	NOUN
fbem-5276	120	23	model	model	NOUN
fbem-5276	120	24	is	be	AUX
fbem-5276	120	25	established	establish	VERB
fbem-5276	120	26	by	by	ADP
fbem-5276	120	27	applying	apply	VERB
fbem-5276	120	28	the	the	DET
fbem-5276	120	29	results	result	NOUN
fbem-5276	120	30	of	of	ADP
fbem-5276	120	31	the	the	DET
fbem-5276	120	32	first	first	ADJ
fbem-5276	120	33	-	-	PUNCT
fbem-5276	120	34	order	order	NOUN
fbem-5276	120	35	difference	difference	NOUN
fbem-5276	120	36	,	,	PUNCT
fbem-5276	120	37	and	and	CCONJ
fbem-5276	120	38	the	the	DET
fbem-5276	120	39	lag	lag	NOUN
fbem-5276	120	40	period	period	NOUN
fbem-5276	120	41	is	be	AUX
fbem-5276	120	42	selected	select	VERB
fbem-5276	120	43	as	as	ADP
fbem-5276	120	44	3	3	NUM
fbem-5276	120	45	(	(	PUNCT
fbem-5276	120	46	here	here	ADV
fbem-5276	120	47	because	because	SCONJ
fbem-5276	120	48	aic	aic	PROPN
fbem-5276	120	49	=	=	PROPN
fbem-5276	120	50	minimum	minimum	ADJ
fbem-5276	120	51	information	information	NOUN
fbem-5276	120	52	+2	+2	PROPN
fbem-5276	120	53	)	)	PUNCT
fbem-5276	120	54	the	the	DET
fbem-5276	120	55	minimum	minimum	NOUN
fbem-5276	120	56	amount	amount	NOUN
fbem-5276	120	57	of	of	ADP
fbem-5276	120	58	information	information	NOUN
fbem-5276	120	59	is	be	AUX
fbem-5276	120	60	1	1	NUM
fbem-5276	120	61	after	after	ADP
fbem-5276	120	62	the	the	DET
fbem-5276	120	63	first	first	ADJ
fbem-5276	120	64	-	-	PUNCT
fbem-5276	120	65	order	order	NOUN
fbem-5276	120	66	50	50	NUM
fbem-5276	120	67	difference	difference	NOUN
fbem-5276	120	68	,	,	PUNCT
fbem-5276	120	69	so	so	CCONJ
fbem-5276	120	70	the	the	DET
fbem-5276	120	71	lag	lag	NOUN
fbem-5276	120	72	period	period	NOUN
fbem-5276	120	73	is	be	AUX
fbem-5276	120	74	selected	select	VERB
fbem-5276	120	75	as	as	ADP
fbem-5276	120	76	3	3	NUM
fbem-5276	120	77	.	.	PUNCT
fbem-5276	120	78	table	table	NOUN
fbem-5276	120	79	5	5	NUM
fbem-5276	120	80	shows	show	VERB
fbem-5276	120	81	the	the	DET
fbem-5276	120	82	results	result	NOUN
fbem-5276	120	83	of	of	ADP
fbem-5276	120	84	the	the	DET
fbem-5276	120	85	granger	granger	PROPN
fbem-5276	120	86	causality	causality	PROPN
fbem-5276	120	87	test	test	NOUN
fbem-5276	120	88	.	.	PUNCT
fbem-5276	121	1	table	table	NOUN
fbem-5276	121	2	5	5	NUM
fbem-5276	121	3	.	.	PUNCT
fbem-5276	122	1	granger	granger	PROPN
fbem-5276	122	2	causality	causality	PROPN
fbem-5276	122	3	test	test	NOUN
fbem-5276	122	4	null	null	PROPN
fbem-5276	122	5	hypothesis	hypothesis	NOUN
fbem-5276	122	6	chi	chi	NOUN
fbem-5276	122	7	-	-	PUNCT
fbem-5276	122	8	square	square	ADJ
fbem-5276	122	9	p	p	NOUN
fbem-5276	122	10	-	-	PUNCT
fbem-5276	122	11	value	value	NOUN
fbem-5276	122	12	conclusion	conclusion	NOUN
fbem-5276	122	13	d(le	d(le	NOUN
fbem-5276	122	14	)	)	PUNCT
fbem-5276	122	15	is	be	AUX
fbem-5276	122	16	not	not	PART
fbem-5276	122	17	the	the	DET
fbem-5276	122	18	cause	cause	NOUN
fbem-5276	122	19	of	of	ADP
fbem-5276	122	20	the	the	DET
fbem-5276	122	21	change	change	NOUN
fbem-5276	122	22	of	of	ADP
fbem-5276	122	23	d(lmo0	d(lmo0	VERB
fbem-5276	122	24	)	)	PUNCT
fbem-5276	122	25	7.8443	7.8443	NUM
fbem-5276	122	26	0.02	0.02	NUM
fbem-5276	122	27	reject	reject	PROPN
fbem-5276	122	28	d(le	d(le	NOUN
fbem-5276	122	29	)	)	PUNCT
fbem-5276	122	30	is	be	AUX
fbem-5276	122	31	not	not	PART
fbem-5276	122	32	the	the	DET
fbem-5276	122	33	cause	cause	NOUN
fbem-5276	122	34	of	of	ADP
fbem-5276	122	35	the	the	DET
fbem-5276	122	36	change	change	NOUN
fbem-5276	122	37	in	in	ADP
fbem-5276	122	38	d(lnmo	d(lnmo	ADJ
fbem-5276	122	39	)	)	PUNCT
fbem-5276	122	40	8.4086	8.4086	NUM
fbem-5276	122	41	0.015	0.015	NUM
fbem-5276	122	42	reject	reject	NOUN
fbem-5276	122	43	d(lnmo	d(lnmo	PROPN
fbem-5276	122	44	)	)	PUNCT
fbem-5276	122	45	is	be	AUX
fbem-5276	122	46	not	not	PART
fbem-5276	122	47	the	the	DET
fbem-5276	122	48	cause	cause	NOUN
fbem-5276	122	49	of	of	ADP
fbem-5276	122	50	the	the	DET
fbem-5276	122	51	change	change	NOUN
fbem-5276	122	52	in	in	ADP
fbem-5276	122	53	d(le	d(le	NOUN
fbem-5276	122	54	)	)	PUNCT
fbem-5276	122	55	2.4674	2.4674	NUM
fbem-5276	122	56	0.291	0.291	NUM
fbem-5276	122	57	accept	accept	ADJ
fbem-5276	122	58	d(lnmo	d(lnmo	PROPN
fbem-5276	122	59	)	)	PUNCT
fbem-5276	122	60	is	be	AUX
fbem-5276	122	61	not	not	PART
fbem-5276	122	62	the	the	DET
fbem-5276	122	63	cause	cause	NOUN
fbem-5276	122	64	of	of	ADP
fbem-5276	122	65	the	the	DET
fbem-5276	122	66	change	change	NOUN
fbem-5276	122	67	in	in	ADP
fbem-5276	122	68	d(le	d(le	NOUN
fbem-5276	122	69	)	)	PUNCT
fbem-5276	122	70	0.63718	0.63718	NUM
fbem-5276	122	71	0.727	0.727	NUM
fbem-5276	122	72	accept	accept	VERB
fbem-5276	122	73	the	the	DET
fbem-5276	122	74	results	result	NOUN
fbem-5276	122	75	of	of	ADP
fbem-5276	122	76	the	the	DET
fbem-5276	122	77	granger	granger	PROPN
fbem-5276	122	78	causality	causality	PROPN
fbem-5276	122	79	test	test	NOUN
fbem-5276	122	80	are	be	AUX
fbem-5276	122	81	consistent	consistent	ADJ
fbem-5276	122	82	with	with	ADP
fbem-5276	122	83	expectations	expectation	NOUN
fbem-5276	122	84	,	,	PUNCT
fbem-5276	122	85	that	that	ADV
fbem-5276	122	86	is	is	ADV
fbem-5276	122	87	,	,	PUNCT
fbem-5276	122	88	the	the	DET
fbem-5276	122	89	change	change	NOUN
fbem-5276	122	90	in	in	ADP
fbem-5276	122	91	the	the	DET
fbem-5276	122	92	amount	amount	NOUN
fbem-5276	122	93	of	of	ADP
fbem-5276	122	94	third	third	ADJ
fbem-5276	122	95	-	-	PUNCT
fbem-5276	122	96	party	party	NOUN
fbem-5276	122	97	payment	payment	NOUN
fbem-5276	122	98	is	be	AUX
fbem-5276	122	99	the	the	DET
fbem-5276	122	100	cause	cause	NOUN
fbem-5276	122	101	of	of	ADP
fbem-5276	122	102	the	the	DET
fbem-5276	122	103	change	change	NOUN
fbem-5276	122	104	in	in	ADP
fbem-5276	122	105	the	the	DET
fbem-5276	122	106	transactional	transactional	ADJ
fbem-5276	122	107	money	money	NOUN
fbem-5276	122	108	demand	demand	NOUN
fbem-5276	122	109	and	and	CCONJ
fbem-5276	122	110	the	the	DET
fbem-5276	122	111	non	non	ADJ
fbem-5276	122	112	-	-	ADJ
fbem-5276	122	113	transactional	transactional	ADJ
fbem-5276	122	114	money	money	NOUN
fbem-5276	122	115	demand	demand	NOUN
fbem-5276	122	116	,	,	PUNCT
fbem-5276	122	117	while	while	SCONJ
fbem-5276	122	118	the	the	DET
fbem-5276	122	119	transactional	transactional	ADJ
fbem-5276	122	120	money	money	NOUN
fbem-5276	122	121	demand	demand	NOUN
fbem-5276	122	122	and	and	CCONJ
fbem-5276	122	123	the	the	DET
fbem-5276	122	124	non	non	ADJ
fbem-5276	122	125	-	-	ADJ
fbem-5276	122	126	transactional	transactional	ADJ
fbem-5276	122	127	money	money	NOUN
fbem-5276	122	128	demand	demand	NOUN
fbem-5276	122	129	are	be	AUX
fbem-5276	122	130	not	not	PART
fbem-5276	122	131	the	the	DET
fbem-5276	122	132	reason	reason	NOUN
fbem-5276	122	133	for	for	ADP
fbem-5276	122	134	the	the	DET
fbem-5276	122	135	third	third	ADJ
fbem-5276	122	136	-	-	PUNCT
fbem-5276	122	137	party	party	NOUN
fbem-5276	122	138	payment	payment	NOUN
fbem-5276	122	139	.	.	PUNCT
fbem-5276	123	1	the	the	DET
fbem-5276	123	2	reason	reason	NOUN
fbem-5276	123	3	for	for	ADP
fbem-5276	123	4	the	the	DET
fbem-5276	123	5	change	change	NOUN
fbem-5276	123	6	in	in	ADP
fbem-5276	123	7	the	the	DET
fbem-5276	123	8	payment	payment	NOUN
fbem-5276	123	9	amount	amount	NOUN
fbem-5276	123	10	.	.	PUNCT
fbem-5276	124	1	in	in	ADP
fbem-5276	124	2	economics	economic	NOUN
fbem-5276	124	3	,	,	PUNCT
fbem-5276	124	4	it	it	PRON
fbem-5276	124	5	can	can	AUX
fbem-5276	124	6	be	be	AUX
fbem-5276	124	7	understood	understand	VERB
fbem-5276	124	8	that	that	SCONJ
fbem-5276	124	9	the	the	DET
fbem-5276	124	10	rapid	rapid	ADJ
fbem-5276	124	11	development	development	NOUN
fbem-5276	124	12	of	of	ADP
fbem-5276	124	13	third	third	ADJ
fbem-5276	124	14	-	-	PUNCT
fbem-5276	124	15	party	party	NOUN
fbem-5276	124	16	payment	payment	NOUN
fbem-5276	124	17	has	have	AUX
fbem-5276	124	18	reduced	reduce	VERB
fbem-5276	124	19	people	people	NOUN
fbem-5276	124	20	's	's	PART
fbem-5276	124	21	holdings	holding	NOUN
fbem-5276	124	22	of	of	ADP
fbem-5276	124	23	cash	cash	NOUN
fbem-5276	124	24	and	and	CCONJ
fbem-5276	124	25	increased	increase	VERB
fbem-5276	124	26	the	the	DET
fbem-5276	124	27	choice	choice	NOUN
fbem-5276	124	28	of	of	ADP
fbem-5276	124	29	bank	bank	NOUN
fbem-5276	124	30	deposits	deposit	NOUN
fbem-5276	124	31	with	with	ADP
fbem-5276	124	32	poor	poor	ADJ
fbem-5276	124	33	liquidity	liquidity	NOUN
fbem-5276	124	34	,	,	PUNCT
fbem-5276	124	35	which	which	PRON
fbem-5276	124	36	has	have	AUX
fbem-5276	124	37	led	lead	VERB
fbem-5276	124	38	to	to	ADP
fbem-5276	124	39	changes	change	NOUN
fbem-5276	124	40	in	in	ADP
fbem-5276	124	41	the	the	DET
fbem-5276	124	42	currency	currency	NOUN
fbem-5276	124	43	demand	demand	NOUN
fbem-5276	124	44	system	system	NOUN
fbem-5276	124	45	.	.	PUNCT
fbem-5276	125	1	on	on	ADP
fbem-5276	125	2	the	the	DET
fbem-5276	125	3	other	other	ADJ
fbem-5276	125	4	hand	hand	NOUN
fbem-5276	125	5	,	,	PUNCT
fbem-5276	125	6	changes	change	NOUN
fbem-5276	125	7	in	in	ADP
fbem-5276	125	8	the	the	DET
fbem-5276	125	9	entire	entire	ADJ
fbem-5276	125	10	currency	currency	NOUN
fbem-5276	125	11	demand	demand	NOUN
fbem-5276	125	12	system	system	NOUN
fbem-5276	125	13	have	have	VERB
fbem-5276	125	14	no	no	DET
fbem-5276	125	15	obvious	obvious	ADJ
fbem-5276	125	16	impact	impact	NOUN
fbem-5276	125	17	on	on	ADP
fbem-5276	125	18	the	the	DET
fbem-5276	125	19	amount	amount	NOUN
fbem-5276	125	20	of	of	ADP
fbem-5276	125	21	third	third	ADJ
fbem-5276	125	22	-	-	PUNCT
fbem-5276	125	23	party	party	NOUN
fbem-5276	125	24	payments	payment	NOUN
fbem-5276	125	25	.	.	PUNCT
fbem-5276	126	1	the	the	DET
fbem-5276	126	2	main	main	ADJ
fbem-5276	126	3	factors	factor	NOUN
fbem-5276	126	4	affecting	affect	VERB
fbem-5276	126	5	third	third	ADJ
fbem-5276	126	6	-	-	PUNCT
fbem-5276	126	7	party	party	NOUN
fbem-5276	126	8	payments	payment	NOUN
fbem-5276	126	9	are	be	AUX
fbem-5276	126	10	the	the	DET
fbem-5276	126	11	rapid	rapid	ADJ
fbem-5276	126	12	development	development	NOUN
fbem-5276	126	13	of	of	ADP
fbem-5276	126	14	the	the	DET
fbem-5276	126	15	internet	internet	NOUN
fbem-5276	126	16	economy	economy	NOUN
fbem-5276	126	17	and	and	CCONJ
fbem-5276	126	18	the	the	DET
fbem-5276	126	19	continuous	continuous	ADJ
fbem-5276	126	20	improvement	improvement	NOUN
fbem-5276	126	21	of	of	ADP
fbem-5276	126	22	telecommunications	telecommunication	NOUN
fbem-5276	126	23	infrastructure	infrastructure	NOUN
fbem-5276	126	24	.	.	PUNCT
fbem-5276	127	1	the	the	DET
fbem-5276	127	2	impulse	impulse	ADJ
fbem-5276	127	3	response	response	NOUN
fbem-5276	127	4	function	function	NOUN
fbem-5276	127	5	can	can	AUX
fbem-5276	127	6	reflect	reflect	VERB
fbem-5276	127	7	the	the	DET
fbem-5276	127	8	long	long	ADJ
fbem-5276	127	9	-	-	PUNCT
fbem-5276	127	10	term	term	NOUN
fbem-5276	127	11	dynamic	dynamic	ADJ
fbem-5276	127	12	relationship	relationship	NOUN
fbem-5276	127	13	between	between	ADP
fbem-5276	127	14	variables	variable	NOUN
fbem-5276	127	15	,	,	PUNCT
fbem-5276	127	16	which	which	PRON
fbem-5276	127	17	helps	help	VERB
fbem-5276	127	18	to	to	PART
fbem-5276	127	19	better	well	ADV
fbem-5276	127	20	analyze	analyze	VERB
fbem-5276	127	21	the	the	DET
fbem-5276	127	22	long	long	ADJ
fbem-5276	127	23	-	-	PUNCT
fbem-5276	127	24	term	term	NOUN
fbem-5276	127	25	impact	impact	NOUN
fbem-5276	127	26	of	of	ADP
fbem-5276	127	27	third	third	ADJ
fbem-5276	127	28	-	-	PUNCT
fbem-5276	127	29	party	party	NOUN
fbem-5276	127	30	payment	payment	NOUN
fbem-5276	127	31	on	on	ADP
fbem-5276	127	32	money	money	NOUN
fbem-5276	127	33	demand	demand	NOUN
fbem-5276	127	34	.	.	PUNCT
fbem-5276	128	1	the	the	DET
fbem-5276	128	2	figure	figure	NOUN
fbem-5276	128	3	below	below	ADV
fbem-5276	128	4	is	be	AUX
fbem-5276	128	5	the	the	DET
fbem-5276	128	6	impulse	impulse	ADJ
fbem-5276	128	7	response	response	NOUN
fbem-5276	128	8	plot	plot	NOUN
fbem-5276	128	9	.	.	PUNCT
fbem-5276	129	1	figure	figure	NOUN
fbem-5276	129	2	6	6	NUM
fbem-5276	129	3	.	.	PUNCT
fbem-5276	130	1	impulse	impulse	ADJ
fbem-5276	130	2	response	response	NOUN
fbem-5276	130	3	plot	plot	NOUN
fbem-5276	130	4	of	of	ADP
fbem-5276	130	5	lmo	lmo	PROPN
fbem-5276	130	6	to	to	PART
fbem-5276	130	7	le	le	PART
fbem-5276	130	8	figure	figure	VERB
fbem-5276	130	9	7	7	NUM
fbem-5276	130	10	.	.	PUNCT
fbem-5276	131	1	impulse	impulse	ADJ
fbem-5276	131	2	response	response	NOUN
fbem-5276	131	3	plot	plot	NOUN
fbem-5276	131	4	of	of	ADP
fbem-5276	131	5	lnmo	lnmo	NOUN
fbem-5276	131	6	to	to	PART
fbem-5276	131	7	le	le	VERB
fbem-5276	131	8	third	third	ADJ
fbem-5276	131	9	-	-	PUNCT
fbem-5276	131	10	party	party	NOUN
fbem-5276	131	11	payment	payment	NOUN
fbem-5276	131	12	has	have	VERB
fbem-5276	131	13	an	an	DET
fbem-5276	131	14	obvious	obvious	ADJ
fbem-5276	131	15	weakening	weakening	NOUN
fbem-5276	131	16	effect	effect	NOUN
fbem-5276	131	17	on	on	ADP
fbem-5276	131	18	transactional	transactional	ADJ
fbem-5276	131	19	money	money	NOUN
fbem-5276	131	20	demand	demand	NOUN
fbem-5276	131	21	,	,	PUNCT
fbem-5276	131	22	but	but	CCONJ
fbem-5276	131	23	has	have	VERB
fbem-5276	131	24	a	a	DET
fbem-5276	131	25	significant	significant	ADJ
fbem-5276	131	26	promoting	promote	VERB
fbem-5276	131	27	effect	effect	NOUN
fbem-5276	131	28	on	on	ADP
fbem-5276	131	29	non	non	ADJ
fbem-5276	131	30	-	-	ADJ
fbem-5276	131	31	transactional	transactional	ADJ
fbem-5276	131	32	money	money	NOUN
fbem-5276	131	33	demand	demand	NOUN
fbem-5276	131	34	,	,	PUNCT
fbem-5276	131	35	that	that	ADV
fbem-5276	131	36	is	is	ADV
fbem-5276	131	37	,	,	PUNCT
fbem-5276	131	38	speculative	speculative	ADJ
fbem-5276	131	39	money	money	NOUN
fbem-5276	131	40	demand	demand	NOUN
fbem-5276	131	41	and	and	CCONJ
fbem-5276	131	42	preventive	preventive	ADJ
fbem-5276	131	43	money	money	NOUN
fbem-5276	131	44	demand	demand	NOUN
fbem-5276	131	45	.	.	PUNCT
fbem-5276	132	1	at	at	ADP
fbem-5276	132	2	the	the	DET
fbem-5276	132	3	same	same	ADJ
fbem-5276	132	4	time	time	NOUN
fbem-5276	132	5	,	,	PUNCT
fbem-5276	132	6	it	it	PRON
fbem-5276	132	7	is	be	AUX
fbem-5276	132	8	noted	note	VERB
fbem-5276	132	9	that	that	SCONJ
fbem-5276	132	10	in	in	ADP
fbem-5276	132	11	the	the	DET
fbem-5276	132	12	short	short	ADJ
fbem-5276	132	13	term	term	NOUN
fbem-5276	132	14	,	,	PUNCT
fbem-5276	132	15	the	the	DET
fbem-5276	132	16	demand	demand	NOUN
fbem-5276	132	17	for	for	ADP
fbem-5276	132	18	transactional	transactional	ADJ
fbem-5276	132	19	currency	currency	NOUN
fbem-5276	132	20	does	do	AUX
fbem-5276	132	21	not	not	PART
fbem-5276	132	22	immediately	immediately	ADV
fbem-5276	132	23	decline	decline	VERB
fbem-5276	132	24	under	under	ADP
fbem-5276	132	25	the	the	DET
fbem-5276	132	26	impact	impact	NOUN
fbem-5276	132	27	of	of	ADP
fbem-5276	132	28	third	third	ADJ
fbem-5276	132	29	-	-	PUNCT
fbem-5276	132	30	party	party	NOUN
fbem-5276	132	31	payment	payment	NOUN
fbem-5276	132	32	.	.	PUNCT
fbem-5276	133	1	rather	rather	ADV
fbem-5276	133	2	,	,	PUNCT
fbem-5276	133	3	it	it	PRON
fbem-5276	133	4	presents	present	VERB
fbem-5276	133	5	an	an	DET
fbem-5276	133	6	accelerated	accelerated	ADJ
fbem-5276	133	7	downward	downward	ADJ
fbem-5276	133	8	trend	trend	NOUN
fbem-5276	133	9	after	after	ADP
fbem-5276	133	10	a	a	DET
fbem-5276	133	11	relatively	relatively	ADV
fbem-5276	133	12	horizontal	horizontal	ADJ
fbem-5276	133	13	trend	trend	NOUN
fbem-5276	133	14	for	for	ADP
fbem-5276	133	15	a	a	DET
fbem-5276	133	16	period	period	NOUN
fbem-5276	133	17	of	of	ADP
fbem-5276	133	18	time	time	NOUN
fbem-5276	133	19	.	.	PUNCT
fbem-5276	134	1	economics	economic	NOUN
fbem-5276	134	2	can	can	AUX
fbem-5276	134	3	be	be	AUX
fbem-5276	134	4	explained	explain	VERB
fbem-5276	134	5	by	by	ADP
fbem-5276	134	6	economies	economy	NOUN
fbem-5276	134	7	of	of	ADP
fbem-5276	134	8	scale	scale	NOUN
fbem-5276	134	9	.	.	PUNCT
fbem-5276	135	1	with	with	ADP
fbem-5276	135	2	the	the	DET
fbem-5276	135	3	continuous	continuous	ADJ
fbem-5276	135	4	promotion	promotion	NOUN
fbem-5276	135	5	of	of	ADP
fbem-5276	135	6	thirdparty	thirdparty	PROPN
fbem-5276	135	7	payment	payment	NOUN
fbem-5276	135	8	,	,	PUNCT
fbem-5276	135	9	the	the	DET
fbem-5276	135	10	use	use	NOUN
fbem-5276	135	11	of	of	ADP
fbem-5276	135	12	third	third	ADJ
fbem-5276	135	13	-	-	PUNCT
fbem-5276	135	14	party	party	NOUN
fbem-5276	135	15	payment	payment	NOUN
fbem-5276	135	16	has	have	VERB
fbem-5276	135	17	a	a	DET
fbem-5276	135	18	positive	positive	ADJ
fbem-5276	135	19	marginal	marginal	ADJ
fbem-5276	135	20	scale	scale	NOUN
fbem-5276	135	21	effect	effect	NOUN
fbem-5276	135	22	,	,	PUNCT
fbem-5276	135	23	which	which	PRON
fbem-5276	135	24	makes	make	VERB
fbem-5276	135	25	its	its	PRON
fbem-5276	135	26	substitution	substitution	NOUN
fbem-5276	135	27	effect	effect	NOUN
fbem-5276	135	28	for	for	ADP
fbem-5276	135	29	cash	cash	NOUN
fbem-5276	135	30	increase	increase	NOUN
fbem-5276	135	31	rapidly	rapidly	ADV
fbem-5276	135	32	,	,	PUNCT
fbem-5276	135	33	which	which	PRON
fbem-5276	135	34	is	be	AUX
fbem-5276	135	35	reflected	reflect	VERB
fbem-5276	135	36	in	in	ADP
fbem-5276	135	37	an	an	DET
fbem-5276	135	38	accelerated	accelerated	ADJ
fbem-5276	135	39	decline	decline	NOUN
fbem-5276	135	40	on	on	ADP
fbem-5276	135	41	the	the	DET
fbem-5276	135	42	impulse	impulse	ADJ
fbem-5276	135	43	response	response	NOUN
fbem-5276	135	44	graph	graph	NOUN
fbem-5276	135	45	.	.	PUNCT
fbem-5276	136	1	role	role	NOUN
fbem-5276	136	2	.	.	PUNCT
fbem-5276	137	1	similarly	similarly	ADV
fbem-5276	137	2	,	,	PUNCT
fbem-5276	137	3	the	the	DET
fbem-5276	137	4	demand	demand	NOUN
fbem-5276	137	5	for	for	ADP
fbem-5276	137	6	non	non	ADJ
fbem-5276	137	7	-	-	ADJ
fbem-5276	137	8	transactional	transactional	ADJ
fbem-5276	137	9	currency	currency	NOUN
fbem-5276	137	10	is	be	AUX
fbem-5276	137	11	showing	show	VERB
fbem-5276	137	12	a	a	DET
fbem-5276	137	13	rising	rise	VERB
fbem-5276	137	14	trend	trend	NOUN
fbem-5276	137	15	because	because	SCONJ
fbem-5276	137	16	third	third	ADJ
fbem-5276	137	17	-	-	PUNCT
fbem-5276	137	18	party	party	NOUN
fbem-5276	137	19	payment	payment	NOUN
fbem-5276	137	20	reduces	reduce	VERB
fbem-5276	137	21	the	the	DET
fbem-5276	137	22	cost	cost	NOUN
fbem-5276	137	23	of	of	ADP
fbem-5276	137	24	speculative	speculative	ADJ
fbem-5276	137	25	currency	currency	NOUN
fbem-5276	137	26	activities	activity	NOUN
fbem-5276	137	27	and	and	CCONJ
fbem-5276	137	28	preventive	preventive	ADJ
fbem-5276	137	29	currency	currency	NOUN
fbem-5276	137	30	activities	activity	NOUN
fbem-5276	137	31	and	and	CCONJ
fbem-5276	137	32	the	the	DET
fbem-5276	137	33	scale	scale	NOUN
fbem-5276	137	34	economy	economy	NOUN
fbem-5276	137	35	dividends	dividend	NOUN
fbem-5276	137	36	brought	bring	VERB
fbem-5276	137	37	about	about	ADP
fbem-5276	137	38	by	by	ADP
fbem-5276	137	39	the	the	DET
fbem-5276	137	40	continuous	continuous	ADJ
fbem-5276	137	41	promotion	promotion	NOUN
fbem-5276	137	42	of	of	ADP
fbem-5276	137	43	third	third	ADJ
fbem-5276	137	44	-	-	PUNCT
fbem-5276	137	45	party	party	NOUN
fbem-5276	137	46	payment	payment	NOUN
fbem-5276	137	47	.	.	PUNCT
fbem-5276	138	1	5	5	X
fbem-5276	138	2	.	.	X
fbem-5276	138	3	results	result	NOUN
fbem-5276	138	4	and	and	CCONJ
fbem-5276	138	5	discussion	discussion	VERB
fbem-5276	138	6	the	the	DET
fbem-5276	138	7	development	development	NOUN
fbem-5276	138	8	of	of	ADP
fbem-5276	138	9	third	third	ADJ
fbem-5276	138	10	-	-	PUNCT
fbem-5276	138	11	party	party	NOUN
fbem-5276	138	12	payment	payment	NOUN
fbem-5276	138	13	will	will	AUX
fbem-5276	138	14	have	have	VERB
fbem-5276	138	15	a	a	DET
fbem-5276	138	16	substitution	substitution	NOUN
fbem-5276	138	17	effect	effect	NOUN
fbem-5276	138	18	on	on	ADP
fbem-5276	138	19	usage	usage	NOUN
fbem-5276	138	20	,	,	PUNCT
fbem-5276	138	21	thus	thus	ADV
fbem-5276	138	22	causing	cause	VERB
fbem-5276	138	23	a	a	DET
fbem-5276	138	24	decline	decline	NOUN
fbem-5276	138	25	in	in	ADP
fbem-5276	138	26	the	the	DET
fbem-5276	138	27	demand	demand	NOUN
fbem-5276	138	28	for	for	ADP
fbem-5276	138	29	transactional	transactional	ADJ
fbem-5276	138	30	currency	currency	NOUN
fbem-5276	138	31	.	.	PUNCT
fbem-5276	139	1	but	but	CCONJ
fbem-5276	139	2	at	at	ADP
fbem-5276	139	3	the	the	DET
fbem-5276	139	4	same	same	ADJ
fbem-5276	139	5	time	time	NOUN
fbem-5276	139	6	,	,	PUNCT
fbem-5276	139	7	the	the	DET
fbem-5276	139	8	emergence	emergence	NOUN
fbem-5276	139	9	and	and	CCONJ
fbem-5276	139	10	development	development	NOUN
fbem-5276	139	11	of	of	ADP
fbem-5276	139	12	third	third	ADJ
fbem-5276	139	13	-	-	PUNCT
fbem-5276	139	14	party	party	NOUN
fbem-5276	139	15	payment	payment	NOUN
fbem-5276	139	16	will	will	AUX
fbem-5276	139	17	reduce	reduce	VERB
fbem-5276	139	18	investment	investment	NOUN
fbem-5276	139	19	and	and	CCONJ
fbem-5276	139	20	financing	financing	NOUN
fbem-5276	139	21	costs	cost	NOUN
fbem-5276	139	22	,	,	PUNCT
fbem-5276	139	23	promote	promote	VERB
fbem-5276	139	24	the	the	DET
fbem-5276	139	25	improvement	improvement	NOUN
fbem-5276	139	26	of	of	ADP
fbem-5276	139	27	financial	financial	ADJ
fbem-5276	139	28	efficiency	efficiency	NOUN
fbem-5276	139	29	,	,	PUNCT
fbem-5276	139	30	and	and	CCONJ
fbem-5276	139	31	cause	cause	VERB
fbem-5276	139	32	an	an	DET
fbem-5276	139	33	increase	increase	NOUN
fbem-5276	139	34	in	in	ADP
fbem-5276	139	35	the	the	DET
fbem-5276	139	36	return	return	NOUN
fbem-5276	139	37	on	on	ADP
fbem-5276	139	38	investment	investment	NOUN
fbem-5276	139	39	.	.	PUNCT
fbem-5276	140	1	therefore	therefore	ADV
fbem-5276	140	2	,	,	PUNCT
fbem-5276	140	3	it	it	PRON
fbem-5276	140	4	will	will	AUX
fbem-5276	140	5	promote	promote	VERB
fbem-5276	140	6	the	the	DET
fbem-5276	140	7	growth	growth	NOUN
fbem-5276	140	8	of	of	ADP
fbem-5276	140	9	speculative	speculative	ADJ
fbem-5276	140	10	currency	currency	NOUN
fbem-5276	140	11	demand	demand	NOUN
fbem-5276	140	12	.	.	PUNCT
fbem-5276	141	1	with	with	ADP
fbem-5276	141	2	the	the	DET
fbem-5276	141	3	decline	decline	NOUN
fbem-5276	141	4	of	of	ADP
fbem-5276	141	5	transactional	transactional	ADJ
fbem-5276	141	6	currency	currency	NOUN
fbem-5276	141	7	demand	demand	NOUN
fbem-5276	141	8	and	and	CCONJ
fbem-5276	141	9	the	the	DET
fbem-5276	141	10	growth	growth	NOUN
fbem-5276	141	11	of	of	ADP
fbem-5276	141	12	speculative	speculative	ADJ
fbem-5276	141	13	currency	currency	NOUN
fbem-5276	141	14	demand	demand	NOUN
fbem-5276	141	15	,	,	PUNCT
fbem-5276	141	16	the	the	DET
fbem-5276	141	17	entire	entire	ADJ
fbem-5276	141	18	level	level	NOUN
fbem-5276	141	19	of	of	ADP
fbem-5276	141	20	currency	currency	NOUN
fbem-5276	141	21	demand	demand	NOUN
fbem-5276	141	22	will	will	AUX
fbem-5276	141	23	change	change	VERB
fbem-5276	141	24	,	,	PUNCT
fbem-5276	141	25	and	and	CCONJ
fbem-5276	141	26	the	the	DET
fbem-5276	141	27	proportion	proportion	NOUN
fbem-5276	141	28	of	of	ADP
fbem-5276	141	29	speculative	speculative	ADJ
fbem-5276	141	30	currency	currency	NOUN
fbem-5276	141	31	demand	demand	NOUN
fbem-5276	141	32	will	will	AUX
fbem-5276	141	33	increase	increase	VERB
fbem-5276	141	34	.	.	PUNCT
fbem-5276	142	1	the	the	DET
fbem-5276	142	2	relative	relative	ADJ
fbem-5276	142	3	increase	increase	NOUN
fbem-5276	142	4	in	in	ADP
fbem-5276	142	5	the	the	DET
fbem-5276	142	6	proportion	proportion	NOUN
fbem-5276	142	7	of	of	ADP
fbem-5276	142	8	speculative	speculative	ADJ
fbem-5276	142	9	money	money	NOUN
fbem-5276	142	10	demand	demand	NOUN
fbem-5276	142	11	in	in	ADP
fbem-5276	142	12	the	the	DET
fbem-5276	142	13	total	total	ADJ
fbem-5276	142	14	money	money	NOUN
fbem-5276	142	15	demand	demand	NOUN
fbem-5276	142	16	will	will	AUX
fbem-5276	142	17	lead	lead	VERB
fbem-5276	142	18	to	to	ADP
fbem-5276	142	19	a	a	DET
fbem-5276	142	20	relative	relative	ADJ
fbem-5276	142	21	increase	increase	NOUN
fbem-5276	142	22	in	in	ADP
fbem-5276	142	23	the	the	DET
fbem-5276	142	24	interest	interest	NOUN
fbem-5276	142	25	rate	rate	NOUN
fbem-5276	142	26	coefficient	coefficient	NOUN
fbem-5276	142	27	of	of	ADP
fbem-5276	142	28	money	money	NOUN
fbem-5276	142	29	demand	demand	NOUN
fbem-5276	142	30	,	,	PUNCT
fbem-5276	142	31	which	which	PRON
fbem-5276	142	32	will	will	AUX
fbem-5276	142	33	lead	lead	VERB
fbem-5276	142	34	to	to	ADP
fbem-5276	142	35	an	an	DET
fbem-5276	142	36	increase	increase	NOUN
fbem-5276	142	37	in	in	ADP
fbem-5276	142	38	the	the	DET
fbem-5276	142	39	effect	effect	NOUN
fbem-5276	142	40	of	of	ADP
fbem-5276	142	41	fiscal	fiscal	ADJ
fbem-5276	142	42	policy	policy	NOUN
fbem-5276	142	43	and	and	CCONJ
fbem-5276	142	44	a	a	DET
fbem-5276	142	45	decrease	decrease	NOUN
fbem-5276	142	46	in	in	ADP
fbem-5276	142	47	the	the	DET
fbem-5276	142	48	effect	effect	NOUN
fbem-5276	142	49	of	of	ADP
fbem-5276	142	50	monetary	monetary	ADJ
fbem-5276	142	51	policy	policy	NOUN
fbem-5276	142	52	.	.	PUNCT
fbem-5276	143	1	because	because	SCONJ
fbem-5276	143	2	with	with	ADP
fbem-5276	143	3	the	the	DET
fbem-5276	143	4	relative	relative	ADJ
fbem-5276	143	5	increase	increase	NOUN
fbem-5276	143	6	of	of	ADP
fbem-5276	143	7	speculative	speculative	ADJ
fbem-5276	143	8	money	money	NOUN
fbem-5276	143	9	demand	demand	NOUN
fbem-5276	143	10	,	,	PUNCT
fbem-5276	143	11	the	the	DET
fbem-5276	143	12	coefficient	coefficient	NOUN
fbem-5276	143	13	of	of	ADP
fbem-5276	143	14	interest	interest	NOUN
fbem-5276	143	15	rate	rate	NOUN
fbem-5276	143	16	in	in	ADP
fbem-5276	143	17	the	the	DET
fbem-5276	143	18	keynesian	keynesian	ADJ
fbem-5276	143	19	money	money	NOUN
fbem-5276	143	20	demand	demand	NOUN
fbem-5276	143	21	function	function	NOUN
fbem-5276	143	22	l	l	PROPN
fbem-5276	143	23	=	=	PROPN
fbem-5276	143	24	ky	ky	PROPN
fbem-5276	143	25	-	-	PUNCT
fbem-5276	143	26	hr	hr	PROPN
fbem-5276	143	27	will	will	AUX
fbem-5276	143	28	increase	increase	VERB
fbem-5276	143	29	,	,	PUNCT
fbem-5276	143	30	and	and	CCONJ
fbem-5276	143	31	the	the	DET
fbem-5276	143	32	amount	amount	NOUN
fbem-5276	143	33	of	of	ADP
fbem-5276	143	34	increase	increase	NOUN
fbem-5276	143	35	in	in	ADP
fbem-5276	143	36	interest	interest	NOUN
fbem-5276	143	37	rate	rate	NOUN
fbem-5276	143	38	caused	cause	VERB
fbem-5276	143	39	by	by	ADP
fbem-5276	143	40	the	the	DET
fbem-5276	143	41	same	same	ADJ
fbem-5276	143	42	increase	increase	NOUN
fbem-5276	143	43	in	in	ADP
fbem-5276	143	44	government	government	NOUN
fbem-5276	143	45	purchases	purchase	NOUN
fbem-5276	143	46	will	will	AUX
fbem-5276	143	47	decrease	decrease	VERB
fbem-5276	143	48	,	,	PUNCT
fbem-5276	143	49	and	and	CCONJ
fbem-5276	143	50	the	the	DET
fbem-5276	143	51	crowding	crowd	VERB
fbem-5276	143	52	out	out	ADP
fbem-5276	143	53	effect	effect	NOUN
fbem-5276	143	54	will	will	AUX
fbem-5276	143	55	decline	decline	VERB
fbem-5276	143	56	,	,	PUNCT
fbem-5276	143	57	making	make	VERB
fbem-5276	143	58	fiscal	fiscal	ADJ
fbem-5276	143	59	policy	policy	NOUN
fbem-5276	143	60	more	more	ADV
fbem-5276	143	61	effective	effective	ADJ
fbem-5276	143	62	.	.	PUNCT
fbem-5276	144	1	while	while	SCONJ
fbem-5276	144	2	increasing	increase	VERB
fbem-5276	144	3	the	the	DET
fbem-5276	144	4	same	same	ADJ
fbem-5276	144	5	money	money	NOUN
fbem-5276	144	6	supply	supply	NOUN
fbem-5276	144	7	,	,	PUNCT
fbem-5276	144	8	the	the	DET
fbem-5276	144	9	decline	decline	NOUN
fbem-5276	144	10	in	in	ADP
fbem-5276	144	11	interest	interest	NOUN
fbem-5276	144	12	rates	rate	NOUN
fbem-5276	144	13	will	will	AUX
fbem-5276	144	14	be	be	AUX
fbem-5276	144	15	more	more	ADV
fbem-5276	144	16	limited	limited	ADJ
fbem-5276	144	17	,	,	PUNCT
fbem-5276	144	18	thus	thus	ADV
fbem-5276	144	19	reducing	reduce	VERB
fbem-5276	144	20	the	the	DET
fbem-5276	144	21	effect	effect	NOUN
fbem-5276	144	22	of	of	ADP
fbem-5276	144	23	monetary	monetary	ADJ
fbem-5276	144	24	policy	policy	NOUN
fbem-5276	144	25	.	.	PUNCT
fbem-5276	145	1	in	in	ADP
fbem-5276	145	2	order	order	NOUN
fbem-5276	145	3	to	to	PART
fbem-5276	145	4	better	well	ADV
fbem-5276	145	5	play	play	VERB
fbem-5276	145	6	the	the	DET
fbem-5276	145	7	role	role	NOUN
fbem-5276	145	8	of	of	ADP
fbem-5276	145	9	macro	macro	NOUN
fbem-5276	145	10	-	-	NOUN
fbem-5276	145	11	control	control	NOUN
fbem-5276	145	12	,	,	PUNCT
fbem-5276	145	13	we	we	PRON
fbem-5276	145	14	should	should	AUX
fbem-5276	145	15	scientifically	scientifically	ADV
fbem-5276	145	16	understand	understand	VERB
fbem-5276	145	17	the	the	DET
fbem-5276	145	18	impact	impact	NOUN
fbem-5276	145	19	of	of	ADP
fbem-5276	145	20	changes	change	NOUN
fbem-5276	145	21	in	in	ADP
fbem-5276	145	22	the	the	DET
fbem-5276	145	23	level	level	NOUN
fbem-5276	145	24	of	of	ADP
fbem-5276	145	25	money	money	NOUN
fbem-5276	145	26	demand	demand	NOUN
fbem-5276	145	27	on	on	ADP
fbem-5276	145	28	the	the	DET
fbem-5276	145	29	effects	effect	NOUN
fbem-5276	145	30	of	of	ADP
fbem-5276	145	31	fiscal	fiscal	ADJ
fbem-5276	145	32	and	and	CCONJ
fbem-5276	145	33	monetary	monetary	ADJ
fbem-5276	145	34	policies	policy	NOUN
fbem-5276	145	35	.	.	PUNCT
fbem-5276	146	1	therefore	therefore	ADV
fbem-5276	146	2	,	,	PUNCT
fbem-5276	146	3	this	this	DET
fbem-5276	146	4	paper	paper	NOUN
fbem-5276	146	5	proposes	propose	VERB
fbem-5276	146	6	the	the	DET
fbem-5276	146	7	following	follow	VERB
fbem-5276	146	8	measures	measure	NOUN
fbem-5276	146	9	:	:	PUNCT
fbem-5276	146	10	1	1	X
fbem-5276	146	11	.	.	X
fbem-5276	146	12	strengthen	strengthen	VERB
fbem-5276	146	13	relevant	relevant	ADJ
fbem-5276	146	14	theoretical	theoretical	ADJ
fbem-5276	146	15	research	research	NOUN
fbem-5276	146	16	in	in	ADP
fbem-5276	146	17	the	the	DET
fbem-5276	146	18	field	field	NOUN
fbem-5276	146	19	of	of	ADP
fbem-5276	146	20	third	third	ADJ
fbem-5276	146	21	-	-	PUNCT
fbem-5276	146	22	party	party	NOUN
fbem-5276	146	23	payment	payment	NOUN
fbem-5276	146	24	2	2	NUM
fbem-5276	146	25	.	.	PUNCT
fbem-5276	146	26	strengthen	strengthen	VERB
fbem-5276	146	27	risk	risk	NOUN
fbem-5276	146	28	management	management	NOUN
fbem-5276	146	29	and	and	CCONJ
fbem-5276	146	30	control	control	NOUN
fbem-5276	146	31	capacity	capacity	NOUN
fbem-5276	146	32	building	build	VERB
fbem-5276	146	33	3	3	NUM
fbem-5276	146	34	.	.	PUNCT
fbem-5276	146	35	innovative	innovative	ADJ
fbem-5276	146	36	policy	policy	NOUN
fbem-5276	146	37	combination	combination	NOUN
fbem-5276	146	38	model	model	NOUN
fbem-5276	146	39	references	reference	NOUN
fbem-5276	146	40	[	[	X
fbem-5276	146	41	1	1	NUM
fbem-5276	146	42	]	]	PUNCT
fbem-5276	146	43	factors	factor	NOUN
fbem-5276	146	44	influencing	influence	VERB
fbem-5276	146	45	continued	continue	VERB
fbem-5276	146	46	use	use	NOUN
fbem-5276	146	47	of	of	ADP
fbem-5276	146	48	mobile	mobile	ADJ
fbem-5276	146	49	easy	easy	ADJ
fbem-5276	146	50	payment	payment	NOUN
fbem-5276	146	51	service	service	NOUN
fbem-5276	146	52	:	:	PUNCT
fbem-5276	146	53	an	an	DET
fbem-5276	146	54	empirical	empirical	ADJ
fbem-5276	146	55	investigatijun	investigatijun	NOUN
fbem-5276	146	56	,	,	PUNCT
fbem-5276	146	57	jaehyeon	jaehyeon	NOUN
fbem-5276	146	58	total	total	ADJ
fbem-5276	146	59	quality	quality	PROPN
fbem-5276	146	60	management	management	PROPN
fbem-5276	146	61	&	&	CCONJ
fbem-5276	146	62	business	business	PROPN
fbem-5276	146	63	excellence	excellence	PROPN
fbem-5276	146	64	(	(	PUNCT
fbem-5276	146	65	2018	2018	NUM
fbem-5276	146	66	)	)	PUNCT
fbem-5276	146	67	.	.	PUNCT
fbem-5276	147	1	[	[	X
fbem-5276	147	2	2	2	NUM
fbem-5276	147	3	]	]	PUNCT
fbem-5276	147	4	consumer	consumer	NOUN
fbem-5276	147	5	acceptance	acceptance	NOUN
fbem-5276	147	6	of	of	ADP
fbem-5276	147	7	mobile	mobile	ADJ
fbem-5276	147	8	payment	payment	NOUN
fbem-5276	147	9	across	across	ADP
fbem-5276	147	10	time	time	NOUN
fbem-5276	147	11	:	:	PUNCT
fbem-5276	147	12	antecedents	antecedent	NOUN
fbem-5276	147	13	and	and	CCONJ
fbem-5276	147	14	moderating	moderate	VERB
fbem-5276	147	15	role	role	NOUN
fbem-5276	147	16	of	of	ADP
fbem-5276	147	17	diffusion	diffusion	NOUN
fbem-5276	147	18	stageswu	stageswu	NOUN
fbem-5276	147	19	,	,	PUNCT
fbem-5276	147	20	jinnan	jinnan	PROPN
fbem-5276	147	21	;	;	PUNCT
fbem-5276	147	22	liu	liu	PROPN
fbem-5276	147	23	,	,	PUNCT
fbem-5276	147	24	lin	lin	PROPN
fbem-5276	147	25	;	;	PUNCT
fbem-5276	147	26	huang	huang	PROPN
fbem-5276	147	27	,	,	PUNCT
fbem-5276	147	28	lihua	lihua	PROPN
fbem-5276	147	29	.	.	PUNCT
fbem-5276	148	1	industrial	industrial	PROPN
fbem-5276	148	2	management	management	PROPN
fbem-5276	148	3	&	&	CCONJ
fbem-5276	148	4	data	datum	NOUN
fbem-5276	148	5	systems	system	NOUN
fbem-5276	148	6	;	;	PUNCT
fbem-5276	148	7	wembley	wembley	NOUN
fbem-5276	148	8	vol	vol	NOUN
fbem-5276	148	9	.	.	PROPN
fbem-5276	149	1	117	117	NUM
fbem-5276	149	2	,	,	PUNCT
fbem-5276	149	3	iss	iss	PROPN
fbem-5276	149	4	.	.	PROPN
fbem-5276	149	5	8	8	NUM
fbem-5276	149	6	,	,	PUNCT
fbem-5276	149	7	(	(	PUNCT
fbem-5276	149	8	2017	2017	NUM
fbem-5276	149	9	):	):	PUNCT
fbem-5276	149	10	1761	1761	NUM
fbem-5276	149	11	-	-	SYM
fbem-5276	149	12	1776	1776	NUM
fbem-5276	149	13	51	51	NUM
fbem-5276	150	1	[	[	X
fbem-5276	150	2	3	3	NUM
fbem-5276	150	3	]	]	X
fbem-5276	150	4	benton	benton	PROPN
fbem-5276	150	5	m	m	PROPN
fbem-5276	150	6	,	,	PUNCT
fbem-5276	150	7	blair	blair	PROPN
fbem-5276	150	8	k	k	PROPN
fbem-5276	150	9	,	,	PUNCT
fbem-5276	151	1	crowe	crowe	PROPN
fbem-5276	151	2	m	m	PROPN
fbem-5276	151	3	d	d	PROPN
fbem-5276	151	4	,	,	PUNCT
fbem-5276	151	5	et	et	PROPN
fbem-5276	151	6	al	al	PROPN
fbem-5276	151	7	.	.	PUNCT
fbem-5276	152	1	the	the	DET
fbem-5276	152	2	boston	boston	PROPN
fbem-5276	152	3	fed	fed	PROPN
fbem-5276	152	4	study	study	NOUN
fbem-5276	152	5	of	of	ADP
fbem-5276	152	6	consumer	consumer	NOUN
fbem-5276	152	7	behavior	behavior	NOUN
fbem-5276	152	8	and	and	CCONJ
fbem-5276	152	9	payment	payment	NOUN
fbem-5276	152	10	choice	choice	NOUN
fbem-5276	152	11	:	:	PUNCT
fbem-5276	152	12	a	a	DET
fbem-5276	152	13	survey	survey	NOUN
fbem-5276	152	14	of	of	ADP
fbem-5276	152	15	federal	federal	PROPN
fbem-5276	152	16	reserve	reserve	PROPN
fbem-5276	152	17	system	system	PROPN
fbem-5276	152	18	employees[j	employees[j	PROPN
fbem-5276	152	19	]	]	PUNCT
fbem-5276	152	20	.	.	PUNCT
fbem-5276	153	1	ssrn	ssrn	PROPN
fbem-5276	153	2	electronic	electronic	ADJ
fbem-5276	153	3	journal	journal	NOUN
fbem-5276	153	4	,	,	PUNCT
fbem-5276	153	5	2007	2007	NUM
fbem-5276	153	6	.	.	PUNCT
fbem-5276	154	1	[	[	X
fbem-5276	154	2	4	4	X
fbem-5276	154	3	]	]	X
fbem-5276	154	4	klee	klee	PROPN
fbem-5276	154	5	e.	e.	PROPN
fbem-5276	154	6	how	how	SCONJ
fbem-5276	154	7	people	people	NOUN
fbem-5276	154	8	pay	pay	VERB
fbem-5276	154	9	:	:	PUNCT
fbem-5276	154	10	evidence	evidence	NOUN
fbem-5276	154	11	from	from	ADP
fbem-5276	154	12	grocery	grocery	NOUN
fbem-5276	154	13	store	store	NOUN
fbem-5276	154	14	data	datum	NOUN
fbem-5276	154	15	?	?	PUNCT
fbem-5276	155	1	[	[	X
fbem-5276	155	2	j	j	X
fbem-5276	155	3	]	]	X
fbem-5276	155	4	.	.	PUNCT
fbem-5276	156	1	journal	journal	PROPN
fbem-5276	156	2	of	of	ADP
fbem-5276	156	3	monetary	monetary	ADJ
fbem-5276	156	4	economics	economic	NOUN
fbem-5276	156	5	,	,	PUNCT
fbem-5276	156	6	2008	2008	NUM
fbem-5276	156	7	,	,	PUNCT
fbem-5276	156	8	55(3):526	55(3):526	NUM
fbem-5276	156	9	-	-	SYM
fbem-5276	156	10	541	541	NUM
fbem-5276	156	11	.	.	PUNCT
fbem-5276	157	1	[	[	X
fbem-5276	157	2	5	5	NUM
fbem-5276	157	3	]	]	PUNCT
fbem-5276	157	4	raa	raa	PROPN
fbem-5276	157	5	t	t	PROPN
fbem-5276	157	6	t	t	PROPN
fbem-5276	157	7	,	,	PUNCT
fbem-5276	157	8	shestalova	shestalova	PROPN
fbem-5276	157	9	v.	v.	ADP
fbem-5276	157	10	empirical	empirical	ADJ
fbem-5276	157	11	evidence	evidence	NOUN
fbem-5276	157	12	on	on	ADP
fbem-5276	157	13	payment	payment	NOUN
fbem-5276	157	14	media	medium	NOUN
fbem-5276	157	15	costs	cost	NOUN
fbem-5276	157	16	and	and	CCONJ
fbem-5276	157	17	switch	switch	VERB
fbem-5276	157	18	points[j	points[j	PROPN
fbem-5276	157	19	]	]	PUNCT
fbem-5276	157	20	.	.	PUNCT
fbem-5276	158	1	journal	journal	PROPN
fbem-5276	158	2	of	of	ADP
fbem-5276	158	3	banking	banking	NOUN
fbem-5276	158	4	&	&	CCONJ
fbem-5276	158	5	finance	finance	PROPN
fbem-5276	158	6	,	,	PUNCT
fbem-5276	158	7	2004	2004	NUM
fbem-5276	158	8	,	,	PUNCT
fbem-5276	158	9	28(1):203	28(1):203	NOUN
fbem-5276	158	10	-	-	PUNCT
fbem-5276	158	11	213	213	NUM
fbem-5276	158	12	.	.	PUNCT
fbem-5276	159	1	[	[	X
fbem-5276	159	2	6	6	NUM
fbem-5276	159	3	]	]	PUNCT
fbem-5276	159	4	arango	arango	PROPN
fbem-5276	159	5	c	c	PROPN
fbem-5276	159	6	,	,	PUNCT
fbem-5276	159	7	taylor	taylor	PROPN
fbem-5276	159	8	v.	v.	ADP
fbem-5276	159	9	merchants	merchant	NOUN
fbem-5276	159	10	'	'	PART
fbem-5276	159	11	costs	cost	NOUN
fbem-5276	159	12	of	of	ADP
fbem-5276	159	13	accepting	accept	VERB
fbem-5276	159	14	means	mean	NOUN
fbem-5276	159	15	of	of	ADP
fbem-5276	159	16	payment	payment	NOUN
fbem-5276	159	17	:	:	PUNCT
fbem-5276	159	18	is	be	AUX
fbem-5276	159	19	cash	cash	NOUN
fbem-5276	159	20	the	the	DET
fbem-5276	159	21	least	least	ADJ
fbem-5276	159	22	costly?[j	costly?[j	NUM
fbem-5276	159	23	]	]	X
fbem-5276	159	24	.	.	PUNCT
fbem-5276	160	1	general	general	ADJ
fbem-5276	160	2	information	information	NOUN
fbem-5276	160	3	,	,	PUNCT
fbem-5276	160	4	2009	2009	NUM
fbem-5276	160	5	,	,	PUNCT
fbem-5276	160	6	2008	2008	NUM
fbem-5276	160	7	-	-	PUNCT
fbem-5276	160	8	2009(1):17	2009(1):17	NUM
fbem-5276	160	9	-	-	SYM
fbem-5276	160	10	25	25	NUM
fbem-5276	160	11	.	.	PUNCT
fbem-5276	161	1	[	[	X
fbem-5276	161	2	7	7	X
fbem-5276	161	3	]	]	PUNCT
fbem-5276	161	4	consumer	consumer	NOUN
fbem-5276	161	5	acceptance	acceptance	NOUN
fbem-5276	161	6	of	of	ADP
fbem-5276	161	7	mobile	mobile	ADJ
fbem-5276	161	8	payment	payment	NOUN
fbem-5276	161	9	across	across	ADP
fbem-5276	161	10	time	time	NOUN
fbem-5276	161	11	:	:	PUNCT
fbem-5276	161	12	antecedents	antecedent	NOUN
fbem-5276	161	13	and	and	CCONJ
fbem-5276	161	14	moderating	moderate	VERB
fbem-5276	161	15	role	role	NOUN
fbem-5276	161	16	of	of	ADP
fbem-5276	161	17	diffusion	diffusion	NOUN
fbem-5276	161	18	stageswu	stageswu	NOUN
fbem-5276	161	19	,	,	PUNCT
fbem-5276	161	20	jinnan	jinnan	PROPN
fbem-5276	161	21	;	;	PUNCT
fbem-5276	161	22	liu	liu	PROPN
fbem-5276	161	23	,	,	PUNCT
fbem-5276	161	24	lin	lin	PROPN
fbem-5276	161	25	;	;	PUNCT
fbem-5276	161	26	huang	huang	PROPN
fbem-5276	161	27	,	,	PUNCT
fbem-5276	161	28	lihua	lihua	PROPN
fbem-5276	161	29	.	.	PUNCT
fbem-5276	162	1	industrial	industrial	PROPN
fbem-5276	162	2	management	management	PROPN
fbem-5276	162	3	&	&	CCONJ
fbem-5276	162	4	data	datum	NOUN
fbem-5276	162	5	systems	system	NOUN
fbem-5276	162	6	;	;	PUNCT
fbem-5276	162	7	wembley	wembley	NOUN
fbem-5276	162	8	vol	vol	NOUN
fbem-5276	162	9	.	.	PROPN
fbem-5276	163	1	117	117	NUM
fbem-5276	163	2	,	,	PUNCT
fbem-5276	163	3	iss	iss	PROPN
fbem-5276	163	4	.	.	PROPN
fbem-5276	163	5	8	8	NUM
fbem-5276	163	6	,	,	PUNCT
fbem-5276	163	7	(	(	PUNCT
fbem-5276	163	8	2017	2017	NUM
fbem-5276	163	9	):	):	PUNCT
fbem-5276	163	10	1761	1761	NUM
fbem-5276	163	11	-	-	SYM
fbem-5276	163	12	1776	1776	NUM
fbem-5276	163	13	.	.	PUNCT