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A Survey on the Relationship Between the Demand of Money and the Affecting Factors "Bounds Test Approach"

One of the most important issues in econometrics is the survey on the long-run relationship of economic variables. With one another among the available methods for this purpose, three of them seem to be of great importance as follows: 1. Tow- stage Engle Granger Method 2. Auto Regressive Distributed Lag Method 3. The Bounds Test Method In this article,. by applying the Bounds-Test Approach, we have tried to study the relationship of demand of money and the long-run affecting factors. Furthermore, we have compared the results of this approach with Johansen Cointegration Method. According to the result Bounds Test Approach of there is a long-run relationship between the demand of money and, the affecting factors. In addition, we have also tried to estimate the long and short-run elasticities, using the so called General to Specific Method.