This paper uses a simple money demand and supply framework to estimate the impact of quantitative easing (QE) on asset prices and nominal spending. We use standard money accounting to try to establish the impact of asset purchases on broad money holdings. We show that the initial impact of £200 billion of asset purchases on the money supply was partially offset by other ‘shocks’ to the money su...

There have been two broad theories of inflation, namely the demand-pull theory of inflation (that is nowadays mainly the monetary theory of inflation) and the cost-push theory of inflation. The mainstream macroeconomics views inflation as a monetary phenomenon in the long run. Iran has experienced double-digit rates of inflation for about four decades. Our main aim is an explanation for the lon...

the interaction between nominal and real sectors is studied based on estimating a simultaneous co-integrated system including foreign and domestic prices, real output, liquidity and exchange rate variables. two co -integrating vectors namely augmented ppp and demand for money functions are identified. the results suggest that real output is a weakly exogeneous variable and relatively the leadin...

This article uses seasonal integration and co integration techniques to test the hypothesis of neutrality of money, using data from the Iranian economy. Seasonal data for the three variables of money supply, output and prices show that (increase in) money supply and the price level are co integrated at zero frequency, but one does not see such a relationship between (increase in) money supply a...

This paper investigates the endogenous money supply hypothesis in Iran. To this end, we attempt to find causality directions between bank credits and money aggregates. Utilizing Diks and Panchenko’s (2006) nonparametric Granger causality test for the time series data over the period 2006:04-2018:12 confirms the existence of a significant causality running from bank credits to money aggregates. ...

abstract t he relationship between public sector deficits and inflation is one of the important and controversial issues in the academic literature as well as in economic policy field. on the other hand, a major objective of macroeconomic policies is to foster economic growth and to keep inflation on a low level. so keeping the price stability plays an important role in determining the growth r...

Title of dissertation: TOWARDS ADEQUATE ANALYSIS AND MODELING OF STRUCTURAL ADJUSTMENT PROGRAMS: AN ANALYTICAL FRAMEWORK WITH APPLICATION TO GHANA Egor Kraev, Doctor of Philosophy, 2004 Dissertation directed by: Professor Herman Daly School of Public Policy When a country experiences a balance of payments problem, the typical remedy mix proposed by the International Monetary Fund consists of fi...

the main goal of this research is studying the causative & effect of deficit budget, money offering and inflation rate in iran during 1360-1390. the results in long time indicates that the bulk of money has had positive effect & meaning on inflation rate during that time and alteration of budget deficit of the government has also positive effect on inflation but by meaningless impress, in other...