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The Effects of Liquidity Components on Output and Prices: A VECMX Approach

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  • zamanzadeh, hamid

    (Monetary and Banking Research Institute (MBRI))

  • jalali, Ahmad

    (Monetary and Banking Research Institute (MBRI))

Abstract

The purpose of this paper is to analyze the transmission effect of “monetary policy”, as reflected by innovations in the growth rate of the stock of M2--which for many years has been the intermediate target of monetary policy in Iran. We recognize that M2 contains both inside and outside money

Suggested Citation

  • zamanzadeh, hamid & jalali, Ahmad, 2016. "The Effects of Liquidity Components on Output and Prices: A VECMX Approach," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 9(27), pages 1-27, April.
    • Handle: RePEc:mbr:jmbres:v:9:y:2016:i:27:p:1-27
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