This paper examines the effects of selected macroeconomic variables on the stock market index in Iran. Using quarterly data, we examine the relationships between the Tehran Stock Index (TSI) and five macroeconomic variables which consist of gross domestic product, nominal effective exchange rate, money supply, gold coin price and investment in housing sector from 1996:1 to 2008:1.Various e...

Gresham’s Law is usually stated simply as ‘the bad currency drives out the good’ and it refers to a time when all transactions used coins. If you had to buy one pound’s worth of merchandise and you had two coins – one which you knew contained one pound’s worth of gold and another where some of the gold had been shaved off – you would pass the second coin and keep the fi rst one. In that way, mo...

This paper proposes an interval method to explore the relationship between the exchange rate of Australian dollar against US dollar and the gold price, using weekly, monthly and quarterly data. With the interval method, interval sample data are formed to present the volatility of variables. The ILS approach is extended to multi-model estimation and the computational schemes are provided. The em...

Complex models have received significant interest in recent years and are being increasingly used to explain the stochastic phenomenon with upward downward fluctuation such as stock market. Different from existing semi-variance methods traditional integer dimension construction for two variables, this paper proposes a simplified multi-factorized fractional derivation exact Excel tool algorithm ...

This paper proposes an interval method to explore the relationship between the exchange rate of Australian dollar against US dollar and the gold price, using weekly, monthly and quarterly data. With the interval method, interval sample data are formed to present the volatility of variables. The ILS approach is extended to multi-model estimation and the computational schemes are provided. The em...