An Estimation of Iran Money Demand Function Considering Asymmetric Effects of Exchange Rate and Household Religious Costs
- سال انتشار: 1402
- محل انتشار: مجله بین المللی مالی و حسابداری مدیریت، دوره: 8، شماره: 30
- کد COI اختصاصی: JR_IJFMA-8-30_027
- زبان مقاله: انگلیسی
- تعداد مشاهده: 216
نویسندگان
Ph.D. in economics, Department of Economics, College of Humanities and Social Sciences, Zanjan Branch, Islamic Azad University, Zanjan, Iran.
Professor of Economics, Department of Economics, Faculty of Economic and Political Sciences, Shahid Beheshti University, Tehran, Iran. (Corresponding Author)
Associate Professor of Economics, Department of Economics, College of Humanities and Social Sciences, Zanjan Branch, Islamic Azad University, Zanjan, Iran.
Assistant Professor of Economics, Department of Economics, College of Humanities and Social Sciences, Zanjan Branch, Islamic Azad University, Zanjan, Iran.
چکیده
AbstractThere are many studies about demand for money in Iran, varying in variables and methods. But in this research, first, we used real amount of money, real M۱, as dependent variable. Real GDP, real interest rate, real exchange rate, and real household religious costs are explanatory variables. Second, we included household religious costs (urban and rural) as a religious measure of Iran Islamic-based economy. And third, we employed NARDL framework to determine asymmetric effects of exchange rate and household religious costs on M۱, simultaneously.By employing NARDL method and using bounds testing approach and, results demonstrate that there is a cointegration relationship between variables. Both GDP and interest rate show positive long run effects on M۱. Furthermore, employing Wald test to check asymmetric effects revealed that negative and positive movements of exchange rate and household religious costs have asymmetric effects on M۱, both in short and long run.Keywords: Money Demand, Household Religious Cost, Nonlinear ARDLJEL Classification: E۴۱, C۳۲کلیدواژه ها
Money Demand, Household Religious Cost, Nonlinear ARDLاطلاعات بیشتر در مورد COI
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