Bhattacharya Mukherjee (2003) empirically checked the latest causal matchmaking between your Indian stock exchange, playing with once the a good proxy the new BSE Sensitive Directory of the Bombay Stock market, that have chose macroeconomic variables (actual rate of exchange, international supplies and you may change harmony really worth)
Gjerde Saettem (1999) investigated brand new causality interactions ranging from inventory productivity and you can macroeconomic details for the new Norwegian benefit, playing with VARs, as in Lee (1992). The outcome showed that the rate takes on an important role regarding the Norwegian benefit. Even more especially, it learned that the pace has an effect on each other stock yields and you can inflation. (mais…)