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Eidi, Mahmoud, Hojabr Kiani, Kambiz, Rajaei, Yadollah, Rahimzadeh, Ashkan. (1398). Estimation of Money Demand Function in Iran Including Households Religious Costs: A NARDL Approach. , 4(15), 127-132.
Mahmoud Eidi; Kambiz Hojabr Kiani; Yadollah Rajaei; Ashkan Rahimzadeh. "Estimation of Money Demand Function in Iran Including Households Religious Costs: A NARDL Approach". , 4, 15, 1398, 127-132.
Eidi, Mahmoud, Hojabr Kiani, Kambiz, Rajaei, Yadollah, Rahimzadeh, Ashkan. (1398). 'Estimation of Money Demand Function in Iran Including Households Religious Costs: A NARDL Approach', , 4(15), pp. 127-132.
Eidi, Mahmoud, Hojabr Kiani, Kambiz, Rajaei, Yadollah, Rahimzadeh, Ashkan. Estimation of Money Demand Function in Iran Including Households Religious Costs: A NARDL Approach. , 1398; 4(15): 127-132.

Estimation of Money Demand Function in Iran Including Households Religious Costs: A NARDL Approach

International Journal of Finance & Managerial Accounting
مقاله 10، دوره 4، شماره 15، دی 2019، صفحه 127-132  XML اصل مقاله (554.8 K)
نوع مقاله: Original Article
نویسندگان
Mahmoud Eidi1؛ Kambiz Hojabr Kiani email 2؛ Yadollah Rajaei3؛ Ashkan Rahimzadeh4
1Ph.D. Student in economics, Department of Economics, College of Humanities and Social Sciences, Zanjan Branch, Islamic Azad University, Zanjan, Iran.
2Professor of Economics, Department of Economics, Faculty of Economic and Political Sciences, Shahid Beheshti University, Tehran, Iran. (Corresponding Author)
3Associate Professor of Economics, Department of Economics, College of Humanities and Social Sciences, Zanjan Branch, Islamic Azad University, Zanjan, Iran.
4Assistant Professor of Economics, Department of Economics, College of Humanities and Social Sciences, Zanjan Branch, Islamic Azad University, Zanjan, Iran.
چکیده
Money demand determinants vary in every economy. There are many studies about Iran money demand function, which employed different variables and estimation methods. In this study, broad money (M2) is dependent variable and GDP, interest rate, exchange rate and household religious costs are descriptive variables. Household religious costs (urban and rural) are included in Iran money demand function as a religious factor because of Iran Islamic-based economy. We used NARDL method with quarterly data between 1376 and 1396, to determine if household religious costs have symmetric or asymmetric effects on Iran money demand. Bound testing approach shows a cointegration between variables, hence, we can interpret the long-run coefficients. Results show that all explanatory variables are statistically significant. Estimated coefficients of GDP, interest rate and exchange rate are 0.82, 0.01 and -0.17, respectively. Household religious costs show asymmetric effects, where estimated coefficients of negative and positive changes in household religious costs are -0.37 and 0.31, respectively.
کلیدواژه‌ها
Money Demand؛ Household Religious Cost؛ Non-linear ARDL
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