THE ANALYSIS OF RELATION OF STOCK MARKET INDEX WITH MONEY DEMAND IN IRAN

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ABBASI GHOLAM REZA; SEYYEDSHOKRI KHASHAYAR; MABOUDIAN EISA

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Journal: Financial Economics Year:2012 | Volume:5 | Issue:17 Page(s): 67-88

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Title

THE ANALYSIS OF RELATION OF STOCK MARKET INDEX WITH MONEY DEMAND IN IRAN

Author(s)

ABBASI GHOLAM REZA | SEYYEDSHOKRI KHASHAYAR | MABOUDIAN EISA | Issue Writer Certificate

Keywords

MONEY DEMANDQ2

JOHANSEN-JUSELIUS APPROACHQ2

STABILITY TESTQ2

COINTEGRATION TESTQ3

STOCK MARKETQ3

Abstract

In this paper relation of STOCK MARKET and MONEY DEMAND investigated. According to Friedman (1988) STOCK MARKET has two main effects on MONEY DEMAND. One is positive wealth effect and other is negative substitution effect. Therefore we can investigate net effect of STOCK MARKET on MONEY DEMAND. the econometric employad approach is Johansen-Juselius and also data are quarterly (1991Q1-2006Q4) and results show that MONEY DEMAND elasticity respect to STOCK MARKET index is 0.046051. This means that STOCK MARKET index in Iran has wealth positive effect on MONEY DEMAND. Therefore central bank should increase the money supply when STOCK MARKET index increase.

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APA: Copy

ABBASI, GHOLAM REZA, SEYYEDSHOKRI, KHASHAYAR, & MABOUDIAN, EISA. (2012). THE ANALYSIS OF RELATION OF STOCK MARKET INDEX WITH MONEY DEMAND IN IRAN. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 5(17), 67-88. SID. https://sid.ir/paper/229192/en

Vancouver: Copy

ABBASI GHOLAM REZA, SEYYEDSHOKRI KHASHAYAR, MABOUDIAN EISA. THE ANALYSIS OF RELATION OF STOCK MARKET INDEX WITH MONEY DEMAND IN IRAN. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2012;5(17):67-88. Available from: https://sid.ir/paper/229192/en

IEEE: Copy

GHOLAM REZA ABBASI, KHASHAYAR SEYYEDSHOKRI, and EISA MABOUDIAN, “THE ANALYSIS OF RELATION OF STOCK MARKET INDEX WITH MONEY DEMAND IN IRAN,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 5, no. 17, pp. 67–88, 2012, [Online]. Available: https://sid.ir/paper/229192/en

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