THE IMPACT OF MACROECONOMIC VARIABLES ON THE STOCK MARKET: EVIDENCE FROM TEHRAN STOCK EXCHANGE MARKET

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

ABBASIAN E.A.; MORADPOUR OULADI M.; ABBASIOUN V.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: Iranian Journal of Economic Research Year:2008 | Volume:12 | Issue:36 Page(s): 135-152

Download Full-Text

Persian Verion

View:

5,774

Download:

Cites:

Information Journal Paper

Title

THE IMPACT OF MACROECONOMIC VARIABLES ON THE STOCK MARKET: EVIDENCE FROM TEHRAN STOCK EXCHANGE MARKET

Author(s)

ABBASIAN E.A. | MORADPOUR OULADI M. | ABBASIOUN V. | Issue Writer Certificate

Keywords

MACROECONOMIC VARIABLESQ3

STOCK RETURNSQ2

COINTEGRATIONQ2

CAUSALITYQ2

Abstract

This paper examines the influence of MACROECONOMIC VARIABLES on stock market equity values in Tehran Stock Exchange Market. We use the Tehran Stock Exchange Market all share price index to represent the stock market and (a) money supply, (b) interest rate, (c) consumer price index (as a measure of inflation), (d) exchange rate and (e) trade balance as MACROECONOMIC VARIABLES. We use the data quarterly data for the above variables for the 20 quarterly periods from Farvardin 1377 to Esfand 1384 employing a battery of tests, which include unit roots, COINTEGRATION, vector error correction models (VECM), impulse response functions (IRFs) and variance decompositions (VDCs). These tests examine both long-run and short-run relationships between the stock market index and the economic variables. The VECM analyses provides some support for the argument that the lagged values of MACROECONOMIC VARIABLES have a significant influence on the stock market. Both VDC and IRF analyses reveal that shocks to economic variables explained only a minority of the forecast variance error of the market index and the effects do not persist for very long.

Cites

References

EXAMINING LONG RUN RELATIONSHIP BETWEEN STOCK PRICE INDEX AND MONETARY VARIABLES IN IRAN

Cite

APA: Copy

ABBASIAN, E.A., MORADPOUR OULADI, M., & ABBASIOUN, V.. (2008). THE IMPACT OF MACROECONOMIC VARIABLES ON THE STOCK MARKET: EVIDENCE FROM TEHRAN STOCK EXCHANGE MARKET. IRANIAN ECONOMIC RESEARCH, 12(36), 135-152. SID. https://sid.ir/paper/2515/en

Vancouver: Copy

ABBASIAN E.A., MORADPOUR OULADI M., ABBASIOUN V.. THE IMPACT OF MACROECONOMIC VARIABLES ON THE STOCK MARKET: EVIDENCE FROM TEHRAN STOCK EXCHANGE MARKET. IRANIAN ECONOMIC RESEARCH[Internet]. 2008;12(36):135-152. Available from: https://sid.ir/paper/2515/en

IEEE: Copy

E.A. ABBASIAN, M. MORADPOUR OULADI, and V. ABBASIOUN, “THE IMPACT OF MACROECONOMIC VARIABLES ON THE STOCK MARKET: EVIDENCE FROM TEHRAN STOCK EXCHANGE MARKET,” IRANIAN ECONOMIC RESEARCH, vol. 12, no. 36, pp. 135–152, 2008, [Online]. Available: https://sid.ir/paper/2515/en

Related Journal Papers