of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …

of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …

test and the cointegration with structural break. There are five important results for narrow and broad money in Nigeria …. First, there is cointegration between narrow and broad money and their determinants, income, interest rate, exchange rate … and real stock prices. Second, stock prices are an important determinant since cointegration fails if real stock prices …

intermediaries. While money is valued for its liquidity, its creation requires costly leverage. Inflation, security prices and the … if it helps back inside money, and lower if more inside money is used to trade it. Inflation can be low in security …

investment can help hedge against inflation in the United States (US) and Canada. This study employed an autoregressive … distributed lag (ARDL) cointegration test developed by Pesaran, Shin, and Smith (2001), and finds evidence of a positive long … against inflation in the United States and Canada. …

positively correlated with economic policy uncertainty, however, are negatively correlated with the monetary policy and fiscal … uncertainty for returns of the Dow-Jones Industrial Average (DJIA) and the S&P 500 Value stock index (VALUE), but negatively …

monetary stimulus. Output and inflation, in contrast with some previous studies, show an insignificant impact providing …