Evaluation of the Relationship between Macroeconomic Variables and Industrial Price Index
Publish place: International Journal of Advanced Studies in Humanities and Social Science، Vol: 7، Issue: 3
Publish Year: 1397
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_UPAEI-7-3_009
تاریخ نمایه سازی: 6 شهریور 1402
Abstract:
This study investigates the separate relationships between three macroeconomic variables the consumer price index, oil prices, and foreign exchange rates and the consolidated price movements of a ۲۴-industry index of stocks listed on the Tehran Stock Exchange during ۲۰۰۳–۲۰۰۹. We hypothesize a significant and direct relation between each macro variable and price movements of the ۲۴-industry index. To test our hypotheses, we use econometric methods that include ordinary least squares (OLS), linear regression, the Dickey–Fuller test, the Phillips–Perron unit root test, the F test, and the White test. Results indicate a direct and significant relation between the CPI and the ۲۴-industry index. However, results confirm that there is no significant relation between either the oil price or the exchange rate and the index during the period examined.
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Authors
Javad Sadeghi Panah
Department of Accounting and Management, Gonbad Kavoos Branch, Islamic Azad University, Gonbad Kavoos, Iran
Rahebeh Boroumand
Department of Accounting, Minoodasht Branch, Islamic Azad University, Minoodasht, Iran
Amir Hassan Susaraie
Department of Accounting and Management, Gonbad Kavoos Branch, Islamic Azad University, Gonbad Kavoos, Iran
Karim Esgandari
Department of Public Administration, Payam Noor University, PO BOX ۱۹۳۹۵-۴۶۹۷ Tehran, Iran
Leila Beigloo
Young Researchers and Elite Club, East Azarbaijan Science and Research Branch, Islamic Azad University, Tabriz, Iran
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