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- Title
ىرادكرئا تسايس ىلود زا قيرط لاناك تميق ىياراد هعسوتوب ىلام
- Authors
دن ىفصآ; رهز ىميرك; رذج; دمحم لهم ىقر; ئوكسا
- Abstract
The purpose of this study is to evaluate the mechanism of monetary transmission through the asset price channel in financial development. In this regard, the impart of monetary polity through housing price and stock price channel has been evaluated by using seasonal data of 110 economic variables during 1991:1-2016:4 and FA VAR model. The results of the impulse response functions indicate that in the medium-term and long-term housing price clrannel increased production, but also had significant inflationary effects in the short and medium term. Also, given the significant impact of the stock price channel on production, it can be said that the capital market has an important role in directing resources andfinds towards productive acfivifies, which ultimately increases investment and production. Based on the results and the significant role of the stock price channel in transmitting monetary shocks to the price level, it can be said that this channel plays a significant role in reducing inflationary effects of monetary policy.
- Subjects
HOME prices; TRANSMISSION mechanism (Monetary policy); IMPULSE response; PRICE levels; VECTOR autoregression model; STOCK prices
- Publication
Quarterly Journal of Economic Growth & Development Research, 2022, Vol 12, Issue 46, p21
- ISSN
2228-5954
- Publication type
Article