Paper Information

Journal:   IRANIAN ECONOMIC RESEARCH   WINTER 2007 , Volume - , Number 29; Page(s) 1 To 15.
 
Paper: 

ESTIMATING DEMAND FOR MONEY IN IRAN USING AUTOREGRESSIVE DISTRIBUTED LAG METHOD

 
 
Author(s):  SADEGHZADEH YAZDI A., JAFARI SAMIMI A., ELMI Z.
 
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Abstract: 

Demand for money is an important part of the macroeconomic models and the monetary policy. In this paper, we estimate the Iranian demand for money for the period 1958-2003using the Autoregressive Distributed Lag (ARDL) method. The results show that the real money balance, gross domestic product, inflation, foreign exchange rate, and government budget deficit have been co-integrated with each other. We also use the error correction model for short-run dynamic analysis. The result shows the speed of adjustment toward the long-run balance is slow.

 
Keyword(s): DEMAND FOR MONEY, AUTOREGRESSIVE DISTRIBUTED LAG (ARDL) METHOD, ERROR CORRECTION MODEL, LONG-TERM EQUILIBRIUM, SHORT-TERM DYNAMICS, IRAN
 
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