Analysis of Relationship amongst Money Supply, Prices and Output in India

2021 ◽  
Vol 2 (2) ◽  
Author(s):  
Sushmita . ◽  
Varun Sahewala ◽  
Varun Jain ◽  
Varun Jain
Keyword(s):  
Money Supply ◽  
Private Consumption ◽  
Inverse Relationship ◽  
Direct Relationship ◽  
Rate Of Change ◽  
Var Model ◽  
Economic Variables ◽  
Long Run ◽  
Changing Trend ◽  
The Relationship

The paper studies the relationship between Money Supply, Prices and Output by creating a robust VAR Model incorporating the changing trend of the macro-economic variables. The observations were that rate of change of Prices and Money Supply have a direct relationship (in short and long run), rate of change of Price and Private Consumption have an inverse relationship (more significant in long run), and rate of change of Investment and Money Supply have an inverse relationship (significant in long run). The study provides a foundation for understanding of stability and shocks amongst the macro-economic variables which have further scope of exploration in terms of magnitude of absolute change and implicit relationships which exist amongst the variables in the Quantity Theory of Money.

The Problem of Identifying and Modeling the Relationship between Monetary Factor and Inflation in the Russian Economy

2008 ◽  
pp. 61-76
Author(s):  
A. Porshakov ◽  
A. Ponomarenko
Keyword(s):  
Money Supply ◽  
Money Demand ◽  
Russian Economy ◽  
Long Run ◽  
Complex Approach ◽  
Wide Range ◽  
Long Time ◽  
The Relationship ◽  
Supply Side Factors

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

Macroeconomic Determinants of Stock Market Prices in Nepal

2020 ◽  
Vol 2 (1) ◽  
pp. 56-65
Author(s):  
Bhim Prasad Panta
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Money Supply ◽  
Developing Economies ◽  
Annual Data ◽  
Economic Variables ◽  
Market Prices ◽  
Ardl Model ◽  
Long Run

Background: Stock market plays a crucial role in the financial system of a country. It can be viewed as a channel through which resources are properly channelized. It enables the governments and industry to raise long-term capital for financing new projects. The stock markets of developing economies are likely to be sensitive to various macro-economic factors such as GDP, imports, exports, exchange rates etc., when there is high demand on financial products, as a constituent of financial market, ultimately stock market needs to develop. Many factors can be a signal to stock market participants to expect a higher or lower return when investing in stock and one of these factors are macroeconomic variables and thus, macro-economic variables tend to effect on stock market development. Objective: This study examines the linkage between stock market prices (NEPSE index) and five macro-economic variables, namely; real GDP, broad money supply, interest rate, inflation, and exchange rate using ARDL model and to explain the behavior of the Nepal Stock Exchange Index. Methods: The ECM which is delivered from ARDL model through simple linear transformation to integrate short run adjustments with long run equilibrium without losing long run information. The analysis has been done by using 25 years' annual data from 1994 to 2019. Findings: The result suggests that the fluctuation of Nepse Index in long run is strongly associated with broad money supply, interest rate, inflation, and exchange rate. Conclusion: Though Nepalese stock market is in primitive stage, broad money supply, interest rate, inflation and exchange rate are major factors affecting stock market price of Nepal. So, policies and strategies should be made and directed taking these in to consideration. Implication: The findings of research can be helpful to understand the behavior of Nepalese stock market and develop policies for market stabilization.

scholarly journals Tourism Industry and Economic Growth Nexus in Beijing, China

Economies ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 25 ◽  
Author(s):  
Yang Songling ◽  
Muhammad Ishtiaq ◽  
Bui Thi Thanh
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Strong Support ◽  
Growth Index ◽  
Strong Relationship ◽  
Tourism Industry ◽  
Var Model ◽  
Long Run ◽  
The Relationship ◽  
Beijing China

In the developing economy, tourism is the most visible and steadiest growing facade. Tourism is considered one of the rapidly increasing elements for economic development from the last two decades. Therefore, the proposed study used vector autoregression (VAR) model, error correction model (ECM), and the Granger causality to check the relationship between the tourism industry and economic growth based on the data of the Beijing municipal bureau of statistics from 1994 to 2015. Gross domestic product (GDP) is used as a replacement variable for the economic growth index, while internal tourism revenue is used as a tourism industry indicator. The study supports the tourism-led growth hypothesis proposed in the existing literature in a different survey of tourism and economic development. The results show that there is a strong relationship in the tourism industry and economic growth in the context of Beijing, and at the same time, tourism creates a more significant increase in long run local real economic accomplishments. The results of the VAR model confirm that in the long run, Beijing’s economic growth is affected by domestic tourism, while the ECM model shows unidirectional results in the short term. Similarly, there is a one-way causal relationship between the tourism industry and economic growth in Beijing, China. The empirical results are in strong support of the concept that tourism causes growth.

Controlling Money Supply And Price Level With Unknown Regime Shifts: The Case Of Chile

2011 ◽  
Vol 24 (2) ◽  
Author(s):  
Abdulnasser Hatemi-J ◽  
Manuchehr Irandoust
Keyword(s):  
Monetary Policy ◽  
Steady State ◽  
Money Supply ◽  
Price Level ◽  
Regime Shifts ◽  
Font Size ◽  
Long Run ◽  
Causality Tests ◽  
The Relationship ◽  
Second Period

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;" lang="EN-GB"><span style="font-family: Times New Roman;">This paper investigates the relationship between money supply and price level using new tests for cointegration with two unknown regime shifts and bootstrap causality tests. Quarterly Chilean data from 1973: I to 2006: III is used. We find empirical evidence that the variables establish a long-run steady state relationship in the presence of two regime shifts. The elasticity of price level with regard to money supply is close to unity during the first period (prior to 1978: II). The elasticity is reduced during the second period (1978: III-1986: I) and it is also reduced for the remaining period but the reduction is smaller. We also conducted bootstrap causality tests that reveal the following: in the first sub-period there is bidirectional causality between the underlying variables. In the last two sub-periods money supply causes the price level only. This implies that money supply is weakly exogenous concerning the price level and that the monetary authority had enough independence to execute an active monetary policy in Chile. <span style="mso-bidi-font-weight: bold;"></span></span></span></p>

scholarly journals Deporte en edad escolar y agentes sociales: estudio preliminar sobre la relación entre familia, monitores y deportistas en la provinicia de León (School age sport and social agents: a preliminary study of the relationship between family, monitors and spor

Retos ◽  
2015 ◽  
pp. 34-37
Author(s):  
Concepción Tuero del Prado ◽  
Belén Zapico Robles ◽  
René González Boto
Keyword(s):  
Physical Condition ◽  
Inverse Relationship ◽  
Direct Relationship ◽  
School Age ◽  
Educational Value ◽  
Men And Women ◽  
Social Agents ◽  
Preliminary Study ◽  
Doing School ◽  
The Relationship

Los objetivos del estudio fueron analizar los motivos de práctica, la percepción de los modelos y características del deporte en edad escolar, así como la influencia de tres agentes sociales en el contexto deportivo escolar de la provincia de León. Se administró el CDEECYL en un grupo de 33 deportistas, 21 padres y 12 monitores. Se realizó un análisis descriptivo y correlacional de variables, así como un análisis de varianza (ANOVA) para la comparación de medias. Factores relacionados con la diversión, la salud y el aprendizaje fueron valorados de forma relevante por los tres grupos y en mayor medida que la competición, la cual tuvo mayor importancia para monitores y deportistas. Los valores educativos tuvieron especial interés para los padres, mientras que la amistad fue un motivo de práctica principal para los deportistas. El estilo del entrenador y el tipo de planteamiento deportivo influyeron sobre aspectos motivacionales de los deportistas, la percepción del deporte y del monitor. Los padres valoraron más los aspectos recreativos y educativos frente a los competivos. En los monitores se produjo una relación directa entre los aspectos condicionales y deportivos y el resultado en competición, e inversa respecto a planteamientos recreativos y actitudinales. Palabra clave: deporte en edad escolar, agentes sociales, evaluación, modelos.Abstract: the aims of this study were to analyze the reasons for doing school age sport, the perceptions of associated models and the characteristics of this type of sport, together with the influence of three social agents in the context of school age sport in the province of León. The CLQSAS (Castile and León Questionnaire on School Age Sport) was administered to a group of 33 sports men and women, 21 parents and 12 monitors. A descriptive and correlational analysis of the variables was performed, and an analysis of variance (ANOVA) was conducted to compare means. Factors related to having fun, health and learning were assessed as important by the three groups, and more so than competition. In turn, this latter was considered more important by the monitors and sports men and women than by the parents. Educational value was of particular importance to the parents, whereas friendship was the principle motive for doing sport among the sports men and women. Trainer style and the kind of approach taken to sport influenced motivational aspects for sports men and women and perceptions of the sport and the monitor. Among the monitors, a direct relationship was observed between physical condition and sports aspects and competition results, and an inverse relationship was found between recreational approaches and attitude.Key words: school age sports, social agents, assessment, models.

The Relationship of Extraversion and Neuroticism to the Eeg

1971 ◽  
Vol 119 (553) ◽  
pp. 667-670 ◽  
Author(s):  
J. P. R. Young ◽  
M. H. Lader ◽  
G. W. Fenton
Keyword(s):  
Significant Interaction ◽  
Inverse Relationship ◽  
Evoked Potential ◽  
Rate Of Change ◽  
Automatic Frequency ◽  
Alpha Frequency ◽  
Relationship Of ◽  
Low Amplitude ◽  
The Relationship ◽  
Potential Waveform

In a recent series of investigations significant but conflicting relationships have been claimed between the two personality dimensions extraversion (E) and neuroticism (N) and certain spontaneous and induced features of the normal EEG. Savage (1964), using alpha abundance data from automatic frequency analysis, demonstrated a significant positive correlation between extraversion and high alpha amplitude. Extraversion has been similarly related to the amplitude of the averaged evoked potential waveform (Shagass and Schwartz, 1965). However, in an investigation by Broadhurst and Glass (1969) both alpha amplitude and prevalence bore an inverse relationship to E scores; extraversion was significantly associated with the rate of change of potential of the EEG, as was neuroticism with the alpha frequency. More recently, Winteret al. (1971) could find no direct relationship between extraversion and EEG amplitude, though there was a tendency for low amplitude activity to be associated with high neuroticism scores. The findings were interpreted as showing a significant interaction between the variables measured, the relationship of extraversion and amplitude varying according to the neuroticism score.

The relationship between conidiation and alkaloid production in saprophytic strains of Claviceps purpurea

1977 ◽  
Vol 23 (9) ◽  
pp. 1182-1187 ◽  
Author(s):  
S. Pažoutová ◽  
V. Pokorný ◽  
Z. ↠eháček
Keyword(s):  
Parent Strain ◽  
Inverse Relationship ◽  
Direct Relationship ◽  
Claviceps Purpurea ◽  
Dense Cytoplasm ◽  
Alkaloid Synthesis ◽  
Granular Cytoplasm ◽  
Clavine Alkaloids ◽  
Conidial Formation ◽  
The Relationship

A direct relationship between alkaloid synthesis and conidia formation was observed in a series of mutants of the saprophytic fungus Claviceps purpurea 129 which produces high quantities of clavine alkaloids (4500 μg∙ml−1). Sclerotia-like mutants forming mostly arthrospores and only a low number of conidiospores were exceptional in that they were characterized by an inverse relationship between alkaloid synthesis and conidial formation. Conidiospores of the parent strain 129 differed both in their size and ultrastructure. They included oval microconidia (2 × 3.5 μm) and prolonged macroconidia (2 × 10.5 μm). Both conidial types originated on short lateral sporophores terminated by phialids. Most conidia were characterized by electron-dense cytoplasm with a number of lipidic inclusions; a minority of conidia contained granular cytoplasm and vacuoles with membrane invaginations. Bicellular conidia were only rarely observed.

Stimulus Properties, Frequency of Exposure, and Affective Responding

1970 ◽  
Vol 30 (1) ◽  
pp. 27-35 ◽  
Author(s):  
John W. Reich ◽  
Carl A. Moody
Keyword(s):  
Inverse Relationship ◽  
Direct Relationship ◽  
Stimulus Properties ◽  
Several Variables ◽  
The Individual ◽  
Relationship Of ◽  
Familiar Stimuli ◽  
The Relationship

Several variables which might be useful in explaining the relationship between frequency of exposure and attitudinal liking are investigated. Complexity of the stimuli and their familiarity were the major variables of interest. Also involved were the sex of Ss and the individual stimuli. Four sets of stimuli were presented 20 times to independent groups of Ss, with scale ratings taken on the 1st and 20th presentations. The results showed that familiarity and complexity interacted in a complex fashion for liking. For highly familiar stimuli, an inverse relationship between complexity and affect held ( p = .10), but for novel stimuli a significant direct relationship held. Implications of the data for the hypothesized relationship of affect and complexity were discussed.

scholarly journals Money Supply, Inflation and Economic Growth: Co-Integration and Causality Analysis

2020 ◽  
Vol 65 (2) ◽  
pp. 29-45
Author(s):  
Ayad Hicham
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Structural Breaks ◽  
Inflation Rate ◽  
Causality Analysis ◽  
Causality Test ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Natural Series

AbstractThe aim of this paper is to examine the relationship between money supply, inflation rate, and economic growth in the context of Algeria, using various econometric procedures as co-integration without and with structural breaks in addition to three different ways of causality test for the period 1970-2018, the results confirm the long-run relationship between the variables with more than three structural breaks, but with the absence of the effects of money supply and inflation rate on economic growth both in short run and long run terms, on the other hand, the causality results confirmed the existence of hidden causalities among the variables running from the cumulative components not from the natural series, and all the results support the Monetarist view of inflation though the absence of any effect of money supply on economic growth.

scholarly journals THE RELATIONSHIP BETWEEN MONETARY POLICY AND PRIVATE SECTOR CREDIT IN SADC COUNTRIES

2021 ◽  
Vol 9 (1) ◽  
pp. 46-54
Author(s):  
Vikela Liso Sithole ◽  
◽  
Tembeka Ndlwana ◽  
Kin Sibanda ◽  
◽  
...  
Keyword(s):  
Monetary Policy ◽  
Gross Domestic Product ◽  
Private Sector ◽  
Money Supply ◽  
Sustainable Growth ◽  
Domestic Product ◽  
Distributed Lag ◽  
Long Run ◽  
The Impact ◽  
The Relationship

This paper empirically examined the relationship between monetary policy and private sector credit in the Southern African Development Community (SADC) group of countries using a panel autoregressive distributed lag (ARDL) co-integration technique for the period from 2009 to 2018. The Hausman test result indicated that the null hypothesis of long-run homogeneity cannot be rejected and hence we accept the pooled mean group estimators (PMGE) as a consistent and efficient estimator. The PMGE results showed that credit to the private sector and gross domestic product have a positive and statistically significant long-run impact on money supply. The impact of credit to the private sector on money supply is shown by the results to be statistically significant and positive both in the short and long run. The impact of gross domestic product on money supply was found to be statistically significant positive in the long run while positive but insignificant in the short run. The study recommends policy attention that is directed towards the appetite for accelerated growth, investment, and employment in the SADC region but more importantly with more regard to the establishment of sustained macroeconomic stability as a precondition to sustainable growth and for the creation of monetary union in the region.

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