THE DEMAND FOR MONEY IN IRAN AND PARTIAL ADJUSTMENT OF INFLATION

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DAHMARDEH N.; IZADI H.R.

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Journal: Journal of Quantitative Economics Year:2007 | Volume:4 | Issue:1 Page(s): 75-93

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Title

THE DEMAND FOR MONEY IN IRAN AND PARTIAL ADJUSTMENT OF INFLATION

Author(s)

DAHMARDEH N. | IZADI H.R. | Issue Writer Certificate

Keywords

DEMAND FOR MONEYQ2

GROSS DOMESTIC PRODUCTQ2

INFLATION RATEQ2

ERROR CORRECTIONQ2

EXCHANGE RATEQ2

Abstract

DEMAND FOR MONEY is an important part of macroeconomic models and the monetary policy; furthermore DEMAND FOR MONEY and its stability are important in an economy especially in the design of monetary policy. We estimate the Iranian DEMAND FOR MONEY for period (1971-2005) using the autoregressive distributed lag (ARDL) method. We also use the ERROR CORRECTION model for short-run dynamic analysis and stability test in model. The explanatory variables include GROSS DOMESTIC PRODUCT, INFLATION RATE, and foreign EXCHANGE RATE, short-run and long-run interest. The results show that there is a long-run equilibrium relationship between the variables. According to our finding, the GROSS DOMESTIC PRODUCT have positive impact on the DEMAND FOR MONEY and EXCHANGE RATE and INFLATION RATE have significant negative effects on the DEMAND FOR MONEY in Iran . The result of our ERROR CORRECTION model indicated that about 50 percent of error deviation of the DEMAND FOR MONEY from its equilibrium path is corrected each period. The results of the stability tests show that the estimated DEMAND FOR MONEY in Iran is stable.

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APA: Copy

DAHMARDEH, N., & IZADI, H.R.. (2007). THE DEMAND FOR MONEY IN IRAN AND PARTIAL ADJUSTMENT OF INFLATION. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 4(1), 75-93. SID. https://sid.ir/paper/110654/en

Vancouver: Copy

DAHMARDEH N., IZADI H.R.. THE DEMAND FOR MONEY IN IRAN AND PARTIAL ADJUSTMENT OF INFLATION. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2007;4(1):75-93. Available from: https://sid.ir/paper/110654/en

IEEE: Copy

N. DAHMARDEH, and H.R. IZADI, “THE DEMAND FOR MONEY IN IRAN AND PARTIAL ADJUSTMENT OF INFLATION,” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 4, no. 1, pp. 75–93, 2007, [Online]. Available: https://sid.ir/paper/110654/en

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