search query: @author Choudhry, T. / total: 5
reference: 4 / 5
| Author: | Choudhry, T. |
| Title: | Real stock prices and the long-run money demand function: evidence from Canada and the USA |
| Journal: | Journal of International Money and Finance
1996 : FEB, VOL. 15:1, p. 1-17 |
| Index terms: | SHARE PRICES CANADA USA |
| Language: | eng |
| Abstract: | This paper investigates the relationship between stock prices and the long-run money demand function in Canada and the USA during the post WWII period (1955-1989). The empirical investigation is conducted by means of the Johansen method of cointegration and the error correction modelling strategy. Results show that stock prices play a significant role in the determination of stationary long-run real M1 and real M2 demand functions in both countries. The direction and magnitude of the role of stock prices depends upon the definition of the money and the country. |
SCIMA