Sahar Bahmani

Stability of the Demand for Money in the Middle East

Previous studies that have estimated the money demand function in Middle Eastern countries employed either traditional estimation techniques or recently popularized cointegration techniques. The first group suffers from spurious regression problems; the second group interprets cointegration as a sign of stability of the estimated parameters. Without a comprehensive study in the literature about the Middle East, this paper incorporates the cumulative sum and cumulative sum squared tests into cointegration analysis and shows that in the majority of the countries in the sample, the demand for money (M2) is stable.

How stable is the demand for money in emerging economies

One of the key elements of implementing the monetary policy is stability of the demand for money. The literature includes a large number of studies that have tested the stability of the money demand in developed as well as less-developed countries but not in emerging economies of Eastern Europe. As market-based data becomes available from these countries, there is an urgency to test old theories for these modern market-oriented economies. In this article we consider the experiences of Armenia, Bulgaria, the Czech Republic, Hungary, Poland, Russia and the Slovak Republic. Using the bounds testing approach to error-correction modelling and cointegration, we show that money demand is stable in these countries.

Women, Research, and Entrepreneurship

The role of women in research and in the entrepreneurship has not been enough studied by specialized literature. Interest for these questions has increased at the end of the last century and can be explained by women playing a more important role in all social settings. Women have entered the work market and their presence and participation in both public and private settings has increased. The aim of this paper is not to review the actions being implemented to achieve more integration and equality of women in society, but to discuss the situation of women as researchers and entrepreneurs. To do this, the most important questions related to these themes are presented. We have analyzed some questions in the last centuries before showing the findings of women in research nowadays. After this, we introduce women as entrepreneurs. Paper ends with some conclusion about the role of women in research and business. The role of women in research and in the entrepreneurship has not been enough studied by specialized literature. Interest for these questions have increased at the end of the last century and can be explained by women play a more important role in all social settings. Women have entered the work market and their presence and participation in both public and private settings has increased. The aim of this paper is not to review the actions being implemented to achieve more integration and equality of women in society, but to discuss the situation of women as researchers and entrepreneurs. To do this, the most important questions related to these themes are presented. We have been analyzed some questions in the last centuries before showing the findings of the women in research nowadays. After this, we introduce women as entrepreneurs. Paper ends with some conclusion about the role of women in research and business.

Exchange rate volatility and demand for money in Iran

In 1963, Nobel Laureate, Robert Mundell (1963) argued that the demand for money could depend on the exchange rate, in addition to income and interest rate. In this paper, we argue that, in addition to the exchange rate itself, its volatility could also serve as another determinant of the demand for money. We demonstrate our conjecture by using data from post-revolutionary Iran and the bounds testing approach. Our results reveal that indeed, exchange rate volatility has short-run as well as long-run effects on the demand for real M2 monetary aggregate in Iran.

Policy uncertainty and the demand for money in the United Kingdom

Limited studies that have assessed the impact of economic uncertainty on the demand for money have concentrated on using a volatility measure of money supply and output. Certainly, other factors such as regulation, taxes, budget deficits, national debt, etc. can contribute to an uncertain environment. This new measure of uncertainty, which is called ‘policy uncertainty’, is now constructed for several countries and published. We investigate the impact of this new measure on the demand for money in the UK and find that it has a negative and significant short-run effect, but not any log-run effects.

Telecommunications Infrastructure and Economic Growth: Comparative Policy Analysis for the G-20 Developed and Developing Countries

Abstract This paper examines the nexus between the development of telecommunications infrastructure (DTI), economic growth, and four key indicators of the operations of advanced economies. It employs a panel vector auto-regressive model to detect causality and examine long-run relationships between variables in the G-20 countries for the period 2001–2012. Evidence is found that DTI, measured through six indicators, may cause economic growth and that causation may be bidirectional. Not surprisingly, the exact nature of causality depends on the group of countries considered and on the definition of DTI.

Do exchange rate changes have symmetric or asymmetric effects on the demand for money in Turkey

ABSTRACT As a result of the research conducted by Nobel Laureate Robert Mundell (1963), most studies estimating the demand for money today do include the exchange rate in their specification to account for currency substitution. Previous studies that did this for the Turkish demand for money assumed that exchange rate changes do have symmetric effects on the demand for money in Turkey. In this article, we question this assumption. By using the nonlinear ARDL approach, we show that indeed exchange rate changes do have short-run and long-run asymmetric effects on the M1 demand for money. Introducing nonlinearity also yields a stable money demand.

Relationships between telecommunications infrastructure, capital formation, and economic growth

This paper examines mutual relationships between telecommunications infrastructure, gross capital formation, and economic growth in the G-20 countries between 1961 and 2012. The countries are assessed individually, as a group of developing and developed countries within two sub-groups, and as a whole. Our results demonstrate that there is a long-run equilibrium relationship between these three variables. We arrive at this conclusion for the two sub-groups, for the G-20 as a whole, as well as for all individual countries. We then use a panel vector auto-regression model to reveal the nature of Granger causality among the three variables. As expected, the results are not uniform and are country and sample dependent.

Improved critical thinking in students using current events journaling

Purpose – When students relate current events to the concepts studied in the classroom by writing and presenting a series of analyses in the form of regular journaling, their learning and critical thinking improves as they regularly connect theory, presented in the lessons and textbooks, to real-world applications. The paper aims to discuss these issues. Design/methodology/approach – A rubric used to assess the progress of student critical thinking showed that all three categories that display critical thinking through reflective reasoning improved: analysis, comprehension and application. Findings – This paper establishes the positive impact of current event journaling on critical thinking and student interest in courses by monitoring courses where current event journaling was incorporated. One of the key findings of this study is that the critical thinking skills of students evolved and became more advanced as the semester progressed, as did their ability to identify links in research and studies to cla...

Asymmetric effects of exchange rate changes on the demand for money in China

ABSTRACT In order to account for currency substitution, the majority of recent studies relating to the specification of the demand for money include the exchange rate as another determinant of the demand for money. However, those who have estimated the demand for money in China have been unable to find any significant effects of exchange rate changes on the demand for money by the Chinese. We show that this is due to the assumption that exchange rate changes have symmetric effects. Once depreciations are separated from appreciations of the yuan, those exchange rate changes are shown to have significant effects on the demand for money in China, but in an asymmetric manner.