Abstract
The variables were subjected to stationarity tests, which indicated that inflation, money supply, and the exchange rate are non-stationary at their levels and only achieved stationarity at their third difference. Consequently, the study conducted a cointegration test, the results of which suggested the existence of at least a unidirectional causal relationship. Accordingly, the Error Correction Model (ECM) was identified as the most appropriate framework for estimating the relationship between these cointegrated variables. Furthermore, the study examined the causal links between inflation and both the broad money supply and the exchange rate.
DOI
10.33095/jeas.v20i79.1971
Subject Area
Economics
First Page
255
Last Page
273
Recommended Citation
Mahmood Dagher, M. M., & Muhyi, S. R. (2020). Monetary Policy Management of the Money Supply to Interest Rates in Iraqi Economy for the Period 2004-2011. Journal of Economics and Administrative Sciences, 20(79), 255-273. https://doi.org/10.33095/jeas.v20i79.1971
