id	sid	tid	token	lemma	pos
dem-15776	1	1	2018	2018	NUM
dem-15776	1	2	nicolaus	nicolaus	PROPN
dem-15776	1	3	copernicus	copernicus	PROPN
dem-15776	1	4	university	university	PROPN
dem-15776	1	5	.	.	PUNCT
dem-15776	2	1	all	all	DET
dem-15776	2	2	rights	right	NOUN
dem-15776	2	3	reserved	reserve	VERB
dem-15776	2	4	.	.	PUNCT
dem-15776	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-15776	4	1	d	d	PUNCT
dem-15776	4	2	y	y	PROPN
dem-15776	4	3	n	n	PROPN
dem-15776	4	4	a	a	PRON
dem-15776	4	5	m	m	VERB
dem-15776	5	1	i	i	NOUN
dem-15776	5	2	c	c	NOUN
dem-15776	5	3	e	e	NOUN
dem-15776	5	4	c	c	NOUN
dem-15776	5	5	o	o	X
dem-15776	6	1	n	n	INTJ
dem-15776	6	2	o	o	NOUN
dem-15776	6	3	m	m	VERB
dem-15776	7	1	e	e	NOUN
dem-15776	7	2	t	t	NOUN
dem-15776	7	3	r	r	NOUN
dem-15776	7	4	i	i	NOUN
dem-15776	7	5	c	c	NOUN
dem-15776	7	6	m	m	VERB
dem-15776	7	7	o	o	NOUN
dem-15776	7	8	d	d	X
dem-15776	7	9	e	e	X
dem-15776	7	10	l	l	NOUN
dem-15776	7	11	s	s	X
dem-15776	7	12	doi	doi	NOUN
dem-15776	7	13	:	:	PUNCT
dem-15776	7	14	http://dx.doi.org/10.12775/dem.2018.002	http://dx.doi.org/10.12775/dem.2018.002	NOUN
dem-15776	7	15	vol	vol	NOUN
dem-15776	7	16	.	.	PROPN
dem-15776	8	1	18	18	NUM
dem-15776	8	2	(	(	PUNCT
dem-15776	8	3	2018	2018	NUM
dem-15776	8	4	)	)	PUNCT
dem-15776	8	5	35−47	35−47	NOUN
dem-15776	8	6	submitted	submit	VERB
dem-15776	8	7	january	january	PROPN
dem-15776	8	8	23	23	NUM
dem-15776	8	9	,	,	PUNCT
dem-15776	8	10	2018	2018	NUM
dem-15776	8	11	issn	issn	PROPN
dem-15776	8	12	(	(	PUNCT
dem-15776	8	13	online	online	ADJ
dem-15776	8	14	)	)	PUNCT
dem-15776	8	15	2450	2450	NUM
dem-15776	8	16	-	-	SYM
dem-15776	8	17	7067	7067	NUM
dem-15776	8	18	accepted	accept	VERB
dem-15776	8	19	september	september	PROPN
dem-15776	8	20	5	5	NUM
dem-15776	8	21	,	,	PUNCT
dem-15776	8	22	2018	2018	NUM
dem-15776	8	23	issn	issn	PROPN
dem-15776	8	24	(	(	PUNCT
dem-15776	8	25	print	print	NOUN
dem-15776	8	26	)	)	PUNCT
dem-15776	8	27	1234	1234	NUM
dem-15776	8	28	-	-	SYM
dem-15776	8	29	3862	3862	NUM
dem-15776	8	30	kamal	kamal	PROPN
dem-15776	8	31	p.	p.	PROPN
dem-15776	8	32	upadhyaya	upadhyaya	PROPN
dem-15776	8	33	,	,	PUNCT
dem-15776	8	34	raja	raja	PROPN
dem-15776	8	35	nag	nag	PROPN
dem-15776	8	36	and	and	CCONJ
dem-15776	8	37	franklin	franklin	PROPN
dem-15776	8	38	g.	g.	PROPN
dem-15776	8	39	mixon	mixon	PROPN
dem-15776	8	40	jr	jr	PROPN
dem-15776	8	41	.	.	PROPN
dem-15776	8	42			PROPN
dem-15776	8	43	stock	stock	NOUN
dem-15776	8	44	market	market	NOUN
dem-15776	8	45	prices	price	NOUN
dem-15776	8	46	and	and	CCONJ
dem-15776	8	47	the	the	DET
dem-15776	8	48	macroeconomics	macroeconomic	NOUN
dem-15776	8	49	of	of	ADP
dem-15776	8	50	emerging	emerge	VERB
dem-15776	8	51	economies	economy	NOUN
dem-15776	8	52	:	:	PUNCT
dem-15776	8	53	the	the	DET
dem-15776	8	54	case	case	NOUN
dem-15776	8	55	of	of	ADP
dem-15776	8	56	india	india	PROPN
dem-15776	8	57	a	a	DET
dem-15776	8	58	b	b	PROPN
dem-15776	8	59	s	s	ADP
dem-15776	8	60	t	t	PROPN
dem-15776	8	61	r	r	NOUN
dem-15776	8	62	a	a	DET
dem-15776	8	63	c	c	NOUN
dem-15776	8	64	t.	t.	NOUN
dem-15776	8	65	this	this	DET
dem-15776	8	66	paper	paper	NOUN
dem-15776	8	67	investigates	investigate	VERB
dem-15776	8	68	the	the	DET
dem-15776	8	69	relationship	relationship	NOUN
dem-15776	8	70	between	between	ADP
dem-15776	8	71	stock	stock	NOUN
dem-15776	8	72	prices	price	NOUN
dem-15776	8	73	and	and	CCONJ
dem-15776	8	74	selected	select	VERB
dem-15776	8	75	macroeconomic	macroeconomic	ADJ
dem-15776	8	76	variables	variable	NOUN
dem-15776	8	77	in	in	ADP
dem-15776	8	78	india	india	PROPN
dem-15776	8	79	.	.	PUNCT
dem-15776	9	1	the	the	DET
dem-15776	9	2	empirical	empirical	ADJ
dem-15776	9	3	results	result	NOUN
dem-15776	9	4	suggest	suggest	VERB
dem-15776	9	5	that	that	SCONJ
dem-15776	9	6	,	,	PUNCT
dem-15776	9	7	in	in	ADP
dem-15776	9	8	the	the	DET
dem-15776	9	9	long	long	ADJ
dem-15776	9	10	run	run	NOUN
dem-15776	9	11	,	,	PUNCT
dem-15776	9	12	output	output	NOUN
dem-15776	9	13	growth	growth	NOUN
dem-15776	9	14	and	and	CCONJ
dem-15776	9	15	the	the	DET
dem-15776	9	16	exchange	exchange	NOUN
dem-15776	9	17	rate	rate	NOUN
dem-15776	9	18	are	be	AUX
dem-15776	9	19	positively	positively	ADV
dem-15776	9	20	related	relate	VERB
dem-15776	9	21	to	to	ADP
dem-15776	9	22	stock	stock	NOUN
dem-15776	9	23	prices	price	NOUN
dem-15776	9	24	,	,	PUNCT
dem-15776	9	25	while	while	SCONJ
dem-15776	9	26	money	money	NOUN
dem-15776	9	27	supply	supply	NOUN
dem-15776	9	28	exhibits	exhibit	VERB
dem-15776	9	29	a	a	DET
dem-15776	9	30	negative	negative	ADJ
dem-15776	9	31	relationship	relationship	NOUN
dem-15776	9	32	to	to	ADP
dem-15776	9	33	stock	stock	NOUN
dem-15776	9	34	market	market	NOUN
dem-15776	9	35	prices	price	NOUN
dem-15776	9	36	.	.	PUNCT
dem-15776	10	1	in	in	ADP
dem-15776	10	2	the	the	DET
dem-15776	10	3	short	short	ADJ
dem-15776	10	4	run	run	NOUN
dem-15776	10	5	most	most	ADJ
dem-15776	10	6	of	of	ADP
dem-15776	10	7	the	the	DET
dem-15776	10	8	variation	variation	NOUN
dem-15776	10	9	in	in	ADP
dem-15776	10	10	the	the	DET
dem-15776	10	11	stock	stock	NOUN
dem-15776	10	12	market	market	NOUN
dem-15776	10	13	is	be	AUX
dem-15776	10	14	captured	capture	VERB
dem-15776	10	15	by	by	ADP
dem-15776	10	16	its	its	PRON
dem-15776	10	17	own	own	ADJ
dem-15776	10	18	innovation	innovation	NOUN
dem-15776	10	19	,	,	PUNCT
dem-15776	10	20	although	although	SCONJ
dem-15776	10	21	the	the	DET
dem-15776	10	22	exchange	exchange	NOUN
dem-15776	10	23	rate	rate	NOUN
dem-15776	10	24	,	,	PUNCT
dem-15776	10	25	the	the	DET
dem-15776	10	26	price	price	NOUN
dem-15776	10	27	level	level	NOUN
dem-15776	10	28	and	and	CCONJ
dem-15776	10	29	the	the	DET
dem-15776	10	30	interest	interest	NOUN
dem-15776	10	31	rate	rate	NOUN
dem-15776	10	32	seem	seem	VERB
dem-15776	10	33	to	to	PART
dem-15776	10	34	have	have	VERB
dem-15776	10	35	some	some	DET
dem-15776	10	36	effect	effect	NOUN
dem-15776	10	37	on	on	ADP
dem-15776	10	38	short	short	ADJ
dem-15776	10	39	-	-	PUNCT
dem-15776	10	40	run	run	VERB
dem-15776	10	41	stock	stock	NOUN
dem-15776	10	42	prices	price	NOUN
dem-15776	10	43	.	.	PUNCT
dem-15776	11	1	k	k	PROPN
dem-15776	11	2	e	e	PROPN
dem-15776	11	3	y	y	PROPN
dem-15776	11	4	w	w	NOUN
dem-15776	11	5	o	o	NOUN
dem-15776	11	6	r	r	NOUN
dem-15776	11	7	d	d	NOUN
dem-15776	11	8	s	s	X
dem-15776	11	9	:	:	PUNCT
dem-15776	11	10	stock	stock	NOUN
dem-15776	11	11	prices	price	NOUN
dem-15776	11	12	,	,	PUNCT
dem-15776	11	13	indian	indian	ADJ
dem-15776	11	14	economy	economy	NOUN
dem-15776	11	15	,	,	PUNCT
dem-15776	11	16	emerging	emerge	VERB
dem-15776	11	17	economies	economy	NOUN
dem-15776	11	18	,	,	PUNCT
dem-15776	11	19	asian	asian	ADJ
dem-15776	11	20	economics	economic	NOUN
dem-15776	11	21	j	j	PROPN
dem-15776	11	22	e	e	PROPN
dem-15776	11	23	l	l	PROPN
dem-15776	11	24	classification	classification	NOUN
dem-15776	11	25	:	:	PUNCT
dem-15776	11	26	e00	e00	PROPN
dem-15776	11	27	;	;	PUNCT
dem-15776	11	28	e44	e44	NOUN
dem-15776	11	29	introduction	introduction	NOUN
dem-15776	11	30	despite	despite	SCONJ
dem-15776	11	31	having	have	VERB
dem-15776	11	32	the	the	DET
dem-15776	11	33	seventh	seventh	ADJ
dem-15776	11	34	largest	large	ADJ
dem-15776	11	35	economy	economy	NOUN
dem-15776	11	36	in	in	ADP
dem-15776	11	37	the	the	DET
dem-15776	11	38	world	world	NOUN
dem-15776	11	39	,	,	PUNCT
dem-15776	11	40	india	india	PROPN
dem-15776	11	41	is	be	AUX
dem-15776	11	42	also	also	ADV
dem-15776	11	43	currently	currently	ADV
dem-15776	11	44	home	home	ADV
dem-15776	11	45	to	to	ADP
dem-15776	11	46	one	one	NUM
dem-15776	11	47	of	of	ADP
dem-15776	11	48	the	the	DET
dem-15776	11	49	world	world	NOUN
dem-15776	11	50	’s	’s	PART
dem-15776	11	51	fastest	fast	ADJ
dem-15776	11	52	growing	grow	VERB
dem-15776	11	53	economies	economy	NOUN
dem-15776	11	54	.	.	PUNCT
dem-15776	12	1	this	this	DET
dem-15776	12	2	phenomenon	phenomenon	NOUN
dem-15776	12	3	is	be	AUX
dem-15776	12	4	relatively	relatively	ADV
dem-15776	12	5	recent	recent	ADJ
dem-15776	12	6	.	.	PUNCT
dem-15776	13	1	however	however	ADV
dem-15776	13	2	,	,	PUNCT
dem-15776	13	3	the	the	DET
dem-15776	13	4	indian	indian	ADJ
dem-15776	13	5	economy	economy	NOUN
dem-15776	13	6	was	be	AUX
dem-15776	13	7	more	more	ADV
dem-15776	13	8	or	or	CCONJ
dem-15776	13	9	less	less	ADV
dem-15776	13	10	stagnant	stagnant	ADJ
dem-15776	13	11	until	until	ADP
dem-15776	13	12	the	the	DET
dem-15776	13	13	early	early	ADJ
dem-15776	13	14	1980s	1980s	NUM
dem-15776	13	15	.	.	PUNCT
dem-15776	14	1	after	after	ADP
dem-15776	14	2	enacting	enact	VERB
dem-15776	14	3	some	some	DET
dem-15776	14	4	major	major	ADJ
dem-15776	14	5	economic	economic	ADJ
dem-15776	14	6	reforms	reform	NOUN
dem-15776	14	7			PROPN
dem-15776	14	8	correspondence	correspondence	NOUN
dem-15776	14	9	to	to	ADP
dem-15776	14	10	:	:	PUNCT
dem-15776	14	11	kamal	kamal	PROPN
dem-15776	14	12	p.	p.	PROPN
dem-15776	14	13	upadhyaya	upadhyaya	PROPN
dem-15776	14	14	,	,	PUNCT
dem-15776	14	15	university	university	NOUN
dem-15776	14	16	of	of	ADP
dem-15776	14	17	new	new	PROPN
dem-15776	14	18	haven	haven	NOUN
dem-15776	14	19	,	,	PUNCT
dem-15776	14	20	department	department	NOUN
dem-15776	14	21	of	of	ADP
dem-15776	14	22	economics	economic	NOUN
dem-15776	14	23	,	,	PUNCT
dem-15776	14	24	300	300	NUM
dem-15776	14	25	boston	boston	PROPN
dem-15776	14	26	post	post	PROPN
dem-15776	14	27	road	road	PROPN
dem-15776	14	28	,	,	PUNCT
dem-15776	14	29	west	west	PROPN
dem-15776	14	30	haven	haven	PROPN
dem-15776	14	31	,	,	PUNCT
dem-15776	14	32	ct	ct	PROPN
dem-15776	14	33	06516	06516	NUM
dem-15776	14	34	,	,	PUNCT
dem-15776	14	35	united	united	PROPN
dem-15776	14	36	states	states	PROPN
dem-15776	14	37	,	,	PUNCT
dem-15776	14	38	e	e	NOUN
dem-15776	14	39	-	-	NOUN
dem-15776	14	40	mail	mail	NOUN
dem-15776	14	41	:	:	PUNCT
dem-15776	14	42	kupadhyaya@newhaven.edu	kupadhyaya@newhaven.edu	PROPN
dem-15776	14	43	;	;	PUNCT
dem-15776	14	44	raja	raja	PROPN
dem-15776	14	45	nag	nag	VERB
dem-15776	14	46	,	,	PUNCT
dem-15776	14	47	new	new	PROPN
dem-15776	14	48	york	york	PROPN
dem-15776	14	49	institute	institute	PROPN
dem-15776	14	50	of	of	ADP
dem-15776	14	51	technology	technology	PROPN
dem-15776	14	52	,	,	PUNCT
dem-15776	14	53	department	department	NOUN
dem-15776	14	54	of	of	ADP
dem-15776	14	55	accounting	accounting	NOUN
dem-15776	14	56	and	and	CCONJ
dem-15776	14	57	finance	finance	NOUN
dem-15776	14	58	,	,	PUNCT
dem-15776	14	59	old	old	ADJ
dem-15776	14	60	westbury	westbury	NOUN
dem-15776	14	61	campus	campus	PROPN
dem-15776	14	62	,	,	PUNCT
dem-15776	14	63	old	old	ADJ
dem-15776	14	64	westbury	westbury	NOUN
dem-15776	14	65	,	,	PUNCT
dem-15776	14	66	ny	ny	PROPN
dem-15776	14	67	11568	11568	NUM
dem-15776	14	68	,	,	PUNCT
dem-15776	14	69	united	united	PROPN
dem-15776	14	70	states	states	PROPN
dem-15776	14	71	,	,	PUNCT
dem-15776	14	72	e	e	NOUN
dem-15776	14	73	-	-	NOUN
dem-15776	14	74	mail	mail	NOUN
dem-15776	14	75	:	:	PUNCT
dem-15776	14	76	dnag@nyit.edu	dnag@nyit.edu	PROPN
dem-15776	14	77	;	;	PUNCT
dem-15776	14	78	franklin	franklin	PROPN
dem-15776	14	79	g.	g.	PROPN
dem-15776	14	80	mixon	mixon	PROPN
dem-15776	14	81	,	,	PUNCT
dem-15776	14	82	jr	jr	PROPN
dem-15776	14	83	.	.	PROPN
dem-15776	14	84	,	,	PUNCT
dem-15776	14	85	columbus	columbus	PROPN
dem-15776	14	86	state	state	PROPN
dem-15776	14	87	university	university	PROPN
dem-15776	14	88	,	,	PUNCT
dem-15776	14	89	center	center	NOUN
dem-15776	14	90	for	for	ADP
dem-15776	14	91	economic	economic	ADJ
dem-15776	14	92	education	education	NOUN
dem-15776	14	93	,	,	PUNCT
dem-15776	14	94	4225	4225	NUM
dem-15776	14	95	university	university	PROPN
dem-15776	14	96	avenue	avenue	PROPN
dem-15776	14	97	,	,	PUNCT
dem-15776	14	98	columbus	columbus	PROPN
dem-15776	14	99	,	,	PUNCT
dem-15776	14	100	ga	ga	PROPN
dem-15776	14	101	31907	31907	NUM
dem-15776	14	102	,	,	PUNCT
dem-15776	14	103	united	united	PROPN
dem-15776	14	104	states	states	PROPN
dem-15776	14	105	,	,	PUNCT
dem-15776	14	106	e	e	NOUN
dem-15776	14	107	-	-	NOUN
dem-15776	14	108	mail	mail	NOUN
dem-15776	14	109	:	:	PUNCT
dem-15776	14	110	mixon_franklin@columbusstate.edu	mixon_franklin@columbusstate.edu	NOUN
dem-15776	14	111	.	.	PUNCT
dem-15776	15	1			NOUN
dem-15776	15	2	the	the	DET
dem-15776	15	3	authors	author	NOUN
dem-15776	15	4	thank	thank	VERB
dem-15776	15	5	two	two	NUM
dem-15776	15	6	anonymous	anonymous	ADJ
dem-15776	15	7	referees	referee	NOUN
dem-15776	15	8	for	for	ADP
dem-15776	15	9	many	many	ADJ
dem-15776	15	10	helpful	helpful	ADJ
dem-15776	15	11	comments	comment	NOUN
dem-15776	15	12	on	on	ADP
dem-15776	15	13	a	a	DET
dem-15776	15	14	prior	prior	ADJ
dem-15776	15	15	version	version	NOUN
dem-15776	15	16	.	.	PUNCT
dem-15776	16	1	any	any	DET
dem-15776	16	2	remaining	remain	VERB
dem-15776	16	3	errors	error	NOUN
dem-15776	16	4	are	be	AUX
dem-15776	16	5	our	our	PRON
dem-15776	16	6	own	own	ADJ
dem-15776	16	7	.	.	PUNCT
dem-15776	17	1	kamal	kamal	PROPN
dem-15776	17	2	p.	p.	PROPN
dem-15776	17	3	upadhyaya	upadhyaya	PROPN
dem-15776	17	4	,	,	PUNCT
dem-15776	17	5	raja	raja	PROPN
dem-15776	17	6	nag	nag	PROPN
dem-15776	17	7	and	and	CCONJ
dem-15776	18	1	franklin	franklin	PROPN
dem-15776	18	2	g.	g.	PROPN
dem-15776	18	3	mixon	mixon	PROPN
dem-15776	18	4	,	,	PUNCT
dem-15776	18	5	jr	jr	PROPN
dem-15776	18	6	.	.	PROPN
dem-15776	18	7	dynamic	dynamic	ADJ
dem-15776	18	8	econometric	econometric	ADJ
dem-15776	18	9	models	model	NOUN
dem-15776	18	10	18	18	NUM
dem-15776	18	11	(	(	PUNCT
dem-15776	18	12	2018	2018	NUM
dem-15776	18	13	)	)	PUNCT
dem-15776	18	14	35–47	35–47	NUM
dem-15776	18	15	36	36	NUM
dem-15776	18	16	during	during	ADP
dem-15776	18	17	the	the	DET
dem-15776	18	18	1980s	1980s	NUM
dem-15776	18	19	,	,	PUNCT
dem-15776	18	20	the	the	DET
dem-15776	18	21	growth	growth	NOUN
dem-15776	18	22	rate	rate	NOUN
dem-15776	18	23	of	of	ADP
dem-15776	18	24	india	india	PROPN
dem-15776	18	25	’s	’s	PART
dem-15776	18	26	economy	economy	NOUN
dem-15776	18	27	accelerated	accelerate	VERB
dem-15776	18	28	,	,	PUNCT
dem-15776	18	29	at	at	ADP
dem-15776	18	30	an	an	DET
dem-15776	18	31	average	average	ADJ
dem-15776	18	32	6.27	6.27	NUM
dem-15776	18	33	percent	percent	NOUN
dem-15776	18	34	annual	annual	ADJ
dem-15776	18	35	growth	growth	NOUN
dem-15776	18	36	from	from	ADP
dem-15776	18	37	1980	1980	NUM
dem-15776	18	38	to	to	ADP
dem-15776	18	39	2014	2014	NUM
dem-15776	18	40	.	.	PUNCT
dem-15776	19	1	in	in	ADP
dem-15776	19	2	2014	2014	NUM
dem-15776	19	3	,	,	PUNCT
dem-15776	19	4	india	india	PROPN
dem-15776	19	5	’s	’s	PART
dem-15776	19	6	economic	economic	ADJ
dem-15776	19	7	growth	growth	NOUN
dem-15776	19	8	rate	rate	NOUN
dem-15776	19	9	stood	stand	VERB
dem-15776	19	10	at	at	ADP
dem-15776	19	11	7.24	7.24	NUM
dem-15776	19	12	percent	percent	NOUN
dem-15776	19	13	,	,	PUNCT
dem-15776	19	14	making	make	VERB
dem-15776	19	15	that	that	DET
dem-15776	19	16	economy	economy	NOUN
dem-15776	19	17	the	the	DET
dem-15776	19	18	fourteenth	fourteenth	ADJ
dem-15776	19	19	fastest	fast	ADJ
dem-15776	19	20	growing	grow	VERB
dem-15776	19	21	economy	economy	NOUN
dem-15776	19	22	in	in	ADP
dem-15776	19	23	the	the	DET
dem-15776	19	24	world	world	NOUN
dem-15776	19	25	.	.	PUNCT
dem-15776	20	1	in	in	ADP
dem-15776	20	2	2015	2015	NUM
dem-15776	20	3	,	,	PUNCT
dem-15776	20	4	this	this	DET
dem-15776	20	5	growth	growth	NOUN
dem-15776	20	6	rate	rate	NOUN
dem-15776	20	7	increased	increase	VERB
dem-15776	20	8	to	to	ADP
dem-15776	20	9	7.36	7.36	NUM
dem-15776	20	10	percent	percent	NOUN
dem-15776	20	11	,	,	PUNCT
dem-15776	20	12	establishing	establish	VERB
dem-15776	20	13	india	india	PROPN
dem-15776	20	14	as	as	ADP
dem-15776	20	15	the	the	DET
dem-15776	20	16	world	world	NOUN
dem-15776	20	17	’s	’s	PART
dem-15776	20	18	ninth	ninth	ADJ
dem-15776	20	19	fastest	fast	ADJ
dem-15776	20	20	growing	grow	VERB
dem-15776	20	21	economy	economy	NOUN
dem-15776	20	22	.	.	PUNCT
dem-15776	21	1	in	in	ADP
dem-15776	21	2	response	response	NOUN
dem-15776	21	3	to	to	ADP
dem-15776	21	4	this	this	DET
dem-15776	21	5	level	level	NOUN
dem-15776	21	6	of	of	ADP
dem-15776	21	7	gdp	gdp	NOUN
dem-15776	21	8	growth	growth	NOUN
dem-15776	21	9	,	,	PUNCT
dem-15776	21	10	stock	stock	NOUN
dem-15776	21	11	prices	price	NOUN
dem-15776	21	12	in	in	ADP
dem-15776	21	13	india	india	PROPN
dem-15776	21	14	have	have	AUX
dem-15776	21	15	also	also	ADV
dem-15776	21	16	been	be	AUX
dem-15776	21	17	growing	grow	VERB
dem-15776	21	18	steadily	steadily	ADV
dem-15776	21	19	.	.	PUNCT
dem-15776	22	1	in	in	ADP
dem-15776	22	2	2003	2003	NUM
dem-15776	22	3	,	,	PUNCT
dem-15776	22	4	total	total	ADJ
dem-15776	22	5	indian	indian	ADJ
dem-15776	22	6	stock	stock	NOUN
dem-15776	22	7	market	market	NOUN
dem-15776	22	8	capitalization	capitalization	NOUN
dem-15776	22	9	was	be	AUX
dem-15776	22	10	$	$	SYM
dem-15776	22	11	279	279	NUM
dem-15776	22	12	billion	billion	NUM
dem-15776	22	13	dollars	dollar	NOUN
dem-15776	22	14	(	(	PUNCT
dem-15776	22	15	slightly	slightly	ADV
dem-15776	22	16	more	more	ADJ
dem-15776	22	17	than	than	ADP
dem-15776	22	18	40	40	NUM
dem-15776	22	19	%	%	NOUN
dem-15776	22	20	of	of	ADP
dem-15776	22	21	gdp	gdp	NOUN
dem-15776	22	22	)	)	PUNCT
dem-15776	22	23	,	,	PUNCT
dem-15776	22	24	increasing	increase	VERB
dem-15776	22	25	to	to	ADP
dem-15776	22	26	$	$	SYM
dem-15776	22	27	1.516	1.516	NUM
dem-15776	22	28	trillion	trillion	NUM
dem-15776	22	29	(	(	PUNCT
dem-15776	22	30	over	over	ADP
dem-15776	22	31	70	70	NUM
dem-15776	22	32	%	%	NOUN
dem-15776	22	33	of	of	ADP
dem-15776	22	34	gdp	gdp	NOUN
dem-15776	22	35	)	)	PUNCT
dem-15776	22	36	in	in	ADP
dem-15776	22	37	2015	2015	NUM
dem-15776	22	38	.	.	PUNCT
dem-15776	23	1	as	as	ADP
dem-15776	23	2	a	a	DET
dem-15776	23	3	result	result	NOUN
dem-15776	23	4	,	,	PUNCT
dem-15776	23	5	the	the	DET
dem-15776	23	6	growing	grow	VERB
dem-15776	23	7	indian	indian	ADJ
dem-15776	23	8	stock	stock	NOUN
dem-15776	23	9	market	market	NOUN
dem-15776	23	10	has	have	AUX
dem-15776	23	11	become	become	VERB
dem-15776	23	12	an	an	DET
dem-15776	23	13	attractive	attractive	ADJ
dem-15776	23	14	investment	investment	NOUN
dem-15776	23	15	opportunity	opportunity	NOUN
dem-15776	23	16	not	not	PART
dem-15776	23	17	only	only	ADV
dem-15776	23	18	for	for	ADP
dem-15776	23	19	domestic	domestic	ADJ
dem-15776	23	20	investors	investor	NOUN
dem-15776	23	21	but	but	CCONJ
dem-15776	23	22	also	also	ADV
dem-15776	23	23	for	for	ADP
dem-15776	23	24	foreign	foreign	ADJ
dem-15776	23	25	investors	investor	NOUN
dem-15776	23	26	.	.	PUNCT
dem-15776	24	1	there	there	PRON
dem-15776	24	2	are	be	VERB
dem-15776	24	3	several	several	ADJ
dem-15776	24	4	factors	factor	NOUN
dem-15776	24	5	that	that	PRON
dem-15776	24	6	contribute	contribute	VERB
dem-15776	24	7	to	to	ADP
dem-15776	24	8	,	,	PUNCT
dem-15776	24	9	and	and	CCONJ
dem-15776	24	10	influence	influence	NOUN
dem-15776	24	11	,	,	PUNCT
dem-15776	24	12	a	a	DET
dem-15776	24	13	company	company	NOUN
dem-15776	24	14	’s	’s	PART
dem-15776	24	15	stock	stock	NOUN
dem-15776	24	16	price	price	NOUN
dem-15776	24	17	.	.	PUNCT
dem-15776	25	1	it	it	PRON
dem-15776	25	2	is	be	AUX
dem-15776	25	3	in	in	ADP
dem-15776	25	4	part	part	NOUN
dem-15776	25	5	determined	determine	VERB
dem-15776	25	6	by	by	ADP
dem-15776	25	7	a	a	DET
dem-15776	25	8	firm	firm	NOUN
dem-15776	25	9	’s	’s	PART
dem-15776	25	10	own	own	ADJ
dem-15776	25	11	company	company	NOUN
dem-15776	25	12	fundamentals	fundamental	NOUN
dem-15776	25	13	,	,	PUNCT
dem-15776	25	14	such	such	ADJ
dem-15776	25	15	as	as	ADP
dem-15776	25	16	earning	earn	VERB
dem-15776	25	17	per	per	ADP
dem-15776	25	18	share	share	NOUN
dem-15776	25	19	,	,	PUNCT
dem-15776	25	20	dividend	dividend	VERB
dem-15776	25	21	per	per	ADP
dem-15776	25	22	share	share	NOUN
dem-15776	25	23	,	,	PUNCT
dem-15776	25	24	book	book	NOUN
dem-15776	25	25	value	value	NOUN
dem-15776	25	26	and	and	CCONJ
dem-15776	25	27	other	other	ADJ
dem-15776	25	28	internal	internal	ADJ
dem-15776	25	29	factors	factor	NOUN
dem-15776	25	30	that	that	PRON
dem-15776	25	31	may	may	AUX
dem-15776	25	32	affect	affect	VERB
dem-15776	25	33	the	the	DET
dem-15776	25	34	growth	growth	NOUN
dem-15776	25	35	of	of	ADP
dem-15776	25	36	the	the	DET
dem-15776	25	37	firm	firm	NOUN
dem-15776	25	38	.	.	PUNCT
dem-15776	26	1	in	in	ADP
dem-15776	26	2	addition	addition	NOUN
dem-15776	26	3	to	to	ADP
dem-15776	26	4	its	its	PRON
dem-15776	26	5	own	own	ADJ
dem-15776	26	6	internal	internal	ADJ
dem-15776	26	7	factors	factor	NOUN
dem-15776	26	8	,	,	PUNCT
dem-15776	26	9	various	various	ADJ
dem-15776	26	10	external	external	ADJ
dem-15776	26	11	factors	factor	NOUN
dem-15776	26	12	,	,	PUNCT
dem-15776	26	13	such	such	ADJ
dem-15776	26	14	as	as	ADP
dem-15776	26	15	domestic	domestic	ADJ
dem-15776	26	16	as	as	ADV
dem-15776	26	17	well	well	ADV
dem-15776	26	18	as	as	ADP
dem-15776	26	19	foreign	foreign	ADJ
dem-15776	26	20	macroeconomic	macroeconomic	ADJ
dem-15776	26	21	variables	variable	NOUN
dem-15776	26	22	,	,	PUNCT
dem-15776	26	23	also	also	ADV
dem-15776	26	24	affect	affect	VERB
dem-15776	26	25	the	the	DET
dem-15776	26	26	firm	firm	NOUN
dem-15776	26	27	’s	’s	PART
dem-15776	26	28	stock	stock	NOUN
dem-15776	26	29	price	price	NOUN
dem-15776	26	30	1	1	NUM
dem-15776	26	31	.	.	PUNCT
dem-15776	27	1	according	accord	VERB
dem-15776	27	2	to	to	ADP
dem-15776	27	3	shleifer	shleifer	PROPN
dem-15776	27	4	and	and	CCONJ
dem-15776	27	5	vishny	vishny	PROPN
dem-15776	27	6	(	(	PUNCT
dem-15776	27	7	1997	1997	NUM
dem-15776	27	8	)	)	PUNCT
dem-15776	27	9	,	,	PUNCT
dem-15776	27	10	successful	successful	ADJ
dem-15776	27	11	corporate	corporate	ADJ
dem-15776	27	12	governance	governance	NOUN
dem-15776	27	13	systems	system	NOUN
dem-15776	27	14	have	have	VERB
dem-15776	27	15	significant	significant	ADJ
dem-15776	27	16	legal	legal	ADJ
dem-15776	27	17	protections	protection	NOUN
dem-15776	27	18	for	for	ADP
dem-15776	27	19	investors	investor	NOUN
dem-15776	27	20	.	.	PUNCT
dem-15776	28	1	unfortunately	unfortunately	ADV
dem-15776	28	2	,	,	PUNCT
dem-15776	28	3	developing	develop	VERB
dem-15776	28	4	countries	country	NOUN
dem-15776	28	5	often	often	ADV
dem-15776	28	6	lack	lack	VERB
dem-15776	28	7	such	such	ADJ
dem-15776	28	8	legal	legal	ADJ
dem-15776	28	9	protection	protection	NOUN
dem-15776	28	10	,	,	PUNCT
dem-15776	28	11	which	which	PRON
dem-15776	28	12	has	have	AUX
dem-15776	28	13	led	lead	VERB
dem-15776	28	14	to	to	ADP
dem-15776	28	15	concentrated	concentrate	VERB
dem-15776	28	16	ownership	ownership	NOUN
dem-15776	28	17	of	of	ADP
dem-15776	28	18	equity	equity	NOUN
dem-15776	28	19	and	and	CCONJ
dem-15776	28	20	large	large	ADJ
dem-15776	28	21	investors	investor	NOUN
dem-15776	28	22	.	.	PUNCT
dem-15776	29	1	thus	thus	ADV
dem-15776	29	2	,	,	PUNCT
dem-15776	29	3	the	the	DET
dem-15776	29	4	findings	finding	NOUN
dem-15776	29	5	from	from	ADP
dem-15776	29	6	studies	study	NOUN
dem-15776	29	7	such	such	ADJ
dem-15776	29	8	as	as	ADP
dem-15776	29	9	those	those	PRON
dem-15776	29	10	cited	cite	VERB
dem-15776	29	11	above	above	ADV
dem-15776	29	12	with	with	ADP
dem-15776	29	13	regard	regard	NOUN
dem-15776	29	14	to	to	ADP
dem-15776	29	15	the	the	DET
dem-15776	29	16	relationship	relationship	NOUN
dem-15776	29	17	between	between	ADP
dem-15776	29	18	macroeconomic	macroeconomic	ADJ
dem-15776	29	19	variables	variable	NOUN
dem-15776	29	20	and	and	CCONJ
dem-15776	29	21	stock	stock	NOUN
dem-15776	29	22	market	market	NOUN
dem-15776	29	23	prices	price	NOUN
dem-15776	29	24	can	can	AUX
dem-15776	29	25	not	not	PART
dem-15776	29	26	necessarily	necessarily	ADV
dem-15776	29	27	be	be	AUX
dem-15776	29	28	generalized	generalize	VERB
dem-15776	29	29	for	for	ADP
dem-15776	29	30	an	an	DET
dem-15776	29	31	emerging	emerge	VERB
dem-15776	29	32	economy	economy	NOUN
dem-15776	29	33	such	such	ADJ
dem-15776	29	34	as	as	ADP
dem-15776	29	35	india	india	PROPN
dem-15776	29	36	.	.	PUNCT
dem-15776	30	1	as	as	ADP
dem-15776	30	2	such	such	ADJ
dem-15776	30	3	,	,	PUNCT
dem-15776	30	4	the	the	DET
dem-15776	30	5	objective	objective	NOUN
dem-15776	30	6	of	of	ADP
dem-15776	30	7	this	this	DET
dem-15776	30	8	study	study	NOUN
dem-15776	30	9	is	be	AUX
dem-15776	30	10	to	to	PART
dem-15776	30	11	explore	explore	VERB
dem-15776	30	12	,	,	PUNCT
dem-15776	30	13	identify	identify	VERB
dem-15776	30	14	and	and	CCONJ
dem-15776	30	15	analyze	analyze	VERB
dem-15776	30	16	the	the	DET
dem-15776	30	17	effects	effect	NOUN
dem-15776	30	18	of	of	ADP
dem-15776	30	19	various	various	ADJ
dem-15776	30	20	macroeconomic	macroeconomic	ADJ
dem-15776	30	21	variables	variable	NOUN
dem-15776	30	22	on	on	ADP
dem-15776	30	23	equity	equity	NOUN
dem-15776	30	24	prices	price	NOUN
dem-15776	30	25	in	in	ADP
dem-15776	30	26	the	the	DET
dem-15776	30	27	indian	indian	ADJ
dem-15776	30	28	stock	stock	NOUN
dem-15776	30	29	market	market	NOUN
dem-15776	30	30	,	,	PUNCT
dem-15776	30	31	and	and	CCONJ
dem-15776	30	32	to	to	PART
dem-15776	30	33	determine	determine	VERB
dem-15776	30	34	if	if	SCONJ
dem-15776	30	35	these	these	DET
dem-15776	30	36	effects	effect	NOUN
dem-15776	30	37	differ	differ	VERB
dem-15776	30	38	from	from	ADP
dem-15776	30	39	those	those	PRON
dem-15776	30	40	of	of	ADP
dem-15776	30	41	developed	develop	VERB
dem-15776	30	42	countries	country	NOUN
dem-15776	30	43	such	such	ADJ
dem-15776	30	44	as	as	ADP
dem-15776	30	45	the	the	DET
dem-15776	30	46	u.s	u.s	PROPN
dem-15776	30	47	.	.	PROPN
dem-15776	30	48	,	,	PUNCT
dem-15776	30	49	u.k	u.k	PROPN
dem-15776	30	50	.	.	PROPN
dem-15776	30	51	and	and	CCONJ
dem-15776	30	52	japan	japan	PROPN
dem-15776	30	53	.	.	PUNCT
dem-15776	31	1	1	1	X
dem-15776	31	2	.	.	X
dem-15776	31	3	literature	literature	NOUN
dem-15776	31	4	review	review	VERB
dem-15776	31	5	there	there	PRON
dem-15776	31	6	is	be	VERB
dem-15776	31	7	abundant	abundant	ADJ
dem-15776	31	8	theoretical	theoretical	ADJ
dem-15776	31	9	literature	literature	NOUN
dem-15776	31	10	that	that	PRON
dem-15776	31	11	links	link	VERB
dem-15776	31	12	the	the	DET
dem-15776	31	13	stock	stock	NOUN
dem-15776	31	14	market	market	NOUN
dem-15776	31	15	with	with	ADP
dem-15776	31	16	different	different	ADJ
dem-15776	31	17	macroeconomic	macroeconomic	ADJ
dem-15776	31	18	variables	variable	NOUN
dem-15776	31	19	(	(	PUNCT
dem-15776	31	20	e.g.	e.g.	ADV
dem-15776	31	21	,	,	PUNCT
dem-15776	31	22	see	see	VERB
dem-15776	31	23	fama	fama	NOUN
dem-15776	31	24	,	,	PUNCT
dem-15776	31	25	1981	1981	NUM
dem-15776	31	26	and	and	CCONJ
dem-15776	31	27	1990	1990	NUM
dem-15776	31	28	;	;	PUNCT
dem-15776	31	29	chen	chen	PROPN
dem-15776	31	30	,	,	PUNCT
dem-15776	31	31	roll	roll	NOUN
dem-15776	31	32	and	and	CCONJ
dem-15776	31	33	ross	ross	PROPN
dem-15776	31	34	,	,	PUNCT
dem-15776	31	35	1986	1986	NUM
dem-15776	31	36	)	)	PUNCT
dem-15776	31	37	.	.	PUNCT
dem-15776	32	1	empirical	empirical	ADJ
dem-15776	32	2	studies	study	NOUN
dem-15776	32	3	on	on	ADP
dem-15776	32	4	the	the	DET
dem-15776	32	5	validity	validity	NOUN
dem-15776	32	6	on	on	ADP
dem-15776	32	7	this	this	DET
dem-15776	32	8	issue	issue	NOUN
dem-15776	32	9	,	,	PUNCT
dem-15776	32	10	however	however	ADV
dem-15776	32	11	,	,	PUNCT
dem-15776	32	12	began	begin	VERB
dem-15776	32	13	only	only	ADV
dem-15776	32	14	few	few	ADJ
dem-15776	32	15	decades	decade	NOUN
dem-15776	32	16	ago	ago	ADV
dem-15776	32	17	.	.	PUNCT
dem-15776	33	1	one	one	NUM
dem-15776	33	2	of	of	ADP
dem-15776	33	3	the	the	DET
dem-15776	33	4	early	early	ADJ
dem-15776	33	5	studies	study	NOUN
dem-15776	33	6	on	on	ADP
dem-15776	33	7	this	this	DET
dem-15776	33	8	topic	topic	NOUN
dem-15776	33	9	is	be	AUX
dem-15776	33	10	by	by	ADP
dem-15776	33	11	mukherjee	mukherjee	NOUN
dem-15776	33	12	and	and	CCONJ
dem-15776	33	13	naka	naka	PROPN
dem-15776	33	14	(	(	PUNCT
dem-15776	33	15	1995	1995	NUM
dem-15776	33	16	)	)	PUNCT
dem-15776	33	17	,	,	PUNCT
dem-15776	33	18	which	which	PRON
dem-15776	33	19	studied	study	VERB
dem-15776	33	20	the	the	DET
dem-15776	33	21	relationship	relationship	NOUN
dem-15776	33	22	between	between	ADP
dem-15776	33	23	macroeconomic	macroeconomic	ADJ
dem-15776	33	24	variables	variable	NOUN
dem-15776	33	25	such	such	ADJ
dem-15776	33	26	as	as	ADP
dem-15776	33	27	the	the	DET
dem-15776	33	28	exchange	exchange	NOUN
dem-15776	33	29	rate	rate	NOUN
dem-15776	33	30	,	,	PUNCT
dem-15776	33	31	money	money	NOUN
dem-15776	33	32	supply	supply	NOUN
dem-15776	33	33	,	,	PUNCT
dem-15776	33	34	inflation	inflation	NOUN
dem-15776	33	35	,	,	PUNCT
dem-15776	33	36	in	in	ADP
dem-15776	33	37	1	1	NUM
dem-15776	33	38	given	give	VERB
dem-15776	33	39	the	the	DET
dem-15776	33	40	strong	strong	ADJ
dem-15776	33	41	link	link	NOUN
dem-15776	33	42	between	between	ADP
dem-15776	33	43	the	the	DET
dem-15776	33	44	financial	financial	ADJ
dem-15776	33	45	market	market	NOUN
dem-15776	33	46	and	and	CCONJ
dem-15776	33	47	the	the	DET
dem-15776	33	48	macroeconomy	macroeconomy	NOUN
dem-15776	33	49	,	,	PUNCT
dem-15776	33	50	andreou	andreou	PROPN
dem-15776	33	51	,	,	PUNCT
dem-15776	33	52	ghysels	ghysel	NOUN
dem-15776	33	53	and	and	CCONJ
dem-15776	33	54	kourtellos	kourtello	NOUN
dem-15776	33	55	(	(	PUNCT
dem-15776	33	56	2013	2013	NUM
dem-15776	33	57	)	)	PUNCT
dem-15776	33	58	use	use	VERB
dem-15776	33	59	daily	daily	ADJ
dem-15776	33	60	financial	financial	ADJ
dem-15776	33	61	data	datum	NOUN
dem-15776	33	62	to	to	PART
dem-15776	33	63	predict	predict	VERB
dem-15776	33	64	quarterly	quarterly	ADJ
dem-15776	33	65	real	real	ADJ
dem-15776	33	66	economic	economic	ADJ
dem-15776	33	67	activity	activity	NOUN
dem-15776	33	68	.	.	PUNCT
dem-15776	34	1	stock	stock	NOUN
dem-15776	34	2	market	market	NOUN
dem-15776	34	3	prices	price	NOUN
dem-15776	34	4	and	and	CCONJ
dem-15776	34	5	the	the	DET
dem-15776	34	6	macroeconomics	macroeconomic	NOUN
dem-15776	34	7	of	of	ADP
dem-15776	34	8	emerging	emerge	VERB
dem-15776	34	9	economies	economy	NOUN
dem-15776	34	10	dynamic	dynamic	ADJ
dem-15776	34	11	econometric	econometric	ADJ
dem-15776	34	12	models	model	NOUN
dem-15776	34	13	18	18	NUM
dem-15776	34	14	(	(	PUNCT
dem-15776	34	15	2018	2018	NUM
dem-15776	34	16	)	)	PUNCT
dem-15776	34	17	35–47	35–47	NUM
dem-15776	34	18	37	37	NUM
dem-15776	34	19	dustrial	dustrial	ADJ
dem-15776	34	20	production	production	NOUN
dem-15776	34	21	,	,	PUNCT
dem-15776	34	22	long	long	ADJ
dem-15776	34	23	term	term	NOUN
dem-15776	34	24	government	government	NOUN
dem-15776	34	25	bond	bond	NOUN
dem-15776	34	26	rates	rate	NOUN
dem-15776	34	27	and	and	CCONJ
dem-15776	34	28	call	call	VERB
dem-15776	34	29	money	money	NOUN
dem-15776	34	30	rates	rate	NOUN
dem-15776	34	31	and	and	CCONJ
dem-15776	34	32	the	the	DET
dem-15776	34	33	japanese	japanese	ADJ
dem-15776	34	34	stock	stock	NOUN
dem-15776	34	35	market	market	NOUN
dem-15776	34	36	using	use	VERB
dem-15776	34	37	a	a	DET
dem-15776	34	38	vector	vector	NOUN
dem-15776	34	39	error	error	NOUN
dem-15776	34	40	correction	correction	NOUN
dem-15776	34	41	model	model	NOUN
dem-15776	34	42	(	(	PUNCT
dem-15776	34	43	vecm	vecm	NOUN
dem-15776	34	44	)	)	PUNCT
dem-15776	34	45	.	.	PUNCT
dem-15776	35	1	their	their	PRON
dem-15776	35	2	findings	finding	NOUN
dem-15776	35	3	suggest	suggest	VERB
dem-15776	35	4	that	that	SCONJ
dem-15776	35	5	there	there	PRON
dem-15776	35	6	exists	exist	VERB
dem-15776	35	7	a	a	DET
dem-15776	35	8	long	long	ADV
dem-15776	35	9	-	-	PUNCT
dem-15776	35	10	run	run	NOUN
dem-15776	35	11	relationship	relationship	NOUN
dem-15776	35	12	between	between	ADP
dem-15776	35	13	these	these	DET
dem-15776	35	14	macroeconomic	macroeconomic	ADJ
dem-15776	35	15	variables	variable	NOUN
dem-15776	35	16	and	and	CCONJ
dem-15776	35	17	stock	stock	NOUN
dem-15776	35	18	prices	price	NOUN
dem-15776	35	19	in	in	ADP
dem-15776	35	20	japan	japan	PROPN
dem-15776	35	21	2	2	NUM
dem-15776	35	22	.	.	PUNCT
dem-15776	36	1	maysami	maysami	PROPN
dem-15776	36	2	and	and	CCONJ
dem-15776	36	3	koh	koh	PROPN
dem-15776	36	4	(	(	PUNCT
dem-15776	36	5	2000	2000	NUM
dem-15776	36	6	)	)	PUNCT
dem-15776	36	7	developed	develop	VERB
dem-15776	36	8	a	a	DET
dem-15776	36	9	vector	vector	NOUN
dem-15776	36	10	error	error	NOUN
dem-15776	36	11	correction	correction	NOUN
dem-15776	36	12	model	model	NOUN
dem-15776	36	13	(	(	PUNCT
dem-15776	36	14	vecm	vecm	NOUN
dem-15776	36	15	)	)	PUNCT
dem-15776	36	16	to	to	PART
dem-15776	36	17	study	study	VERB
dem-15776	36	18	the	the	DET
dem-15776	36	19	relationship	relationship	NOUN
dem-15776	36	20	between	between	ADP
dem-15776	36	21	different	different	ADJ
dem-15776	36	22	macroeconomic	macroeconomic	ADJ
dem-15776	36	23	variables	variable	NOUN
dem-15776	36	24	and	and	CCONJ
dem-15776	36	25	the	the	DET
dem-15776	36	26	stock	stock	NOUN
dem-15776	36	27	market	market	NOUN
dem-15776	36	28	in	in	ADP
dem-15776	36	29	singapore	singapore	PROPN
dem-15776	36	30	.	.	PUNCT
dem-15776	37	1	their	their	PRON
dem-15776	37	2	findings	finding	NOUN
dem-15776	37	3	suggest	suggest	VERB
dem-15776	37	4	that	that	SCONJ
dem-15776	37	5	only	only	ADJ
dem-15776	37	6	price	price	NOUN
dem-15776	37	7	levels	level	NOUN
dem-15776	37	8	,	,	PUNCT
dem-15776	37	9	money	money	NOUN
dem-15776	37	10	supply	supply	NOUN
dem-15776	37	11	,	,	PUNCT
dem-15776	37	12	short	short	ADJ
dem-15776	37	13	-	-	PUNCT
dem-15776	37	14	term	term	NOUN
dem-15776	37	15	and	and	CCONJ
dem-15776	37	16	long	long	ADJ
dem-15776	37	17	-	-	PUNCT
dem-15776	37	18	term	term	NOUN
dem-15776	37	19	interest	interest	NOUN
dem-15776	37	20	rates	rate	NOUN
dem-15776	37	21	and	and	CCONJ
dem-15776	37	22	exchange	exchange	NOUN
dem-15776	37	23	rates	rate	NOUN
dem-15776	37	24	are	be	AUX
dem-15776	37	25	cointegrated	cointegrate	VERB
dem-15776	37	26	with	with	ADP
dem-15776	37	27	singapore	singapore	PROPN
dem-15776	37	28	’s	’s	PART
dem-15776	37	29	stock	stock	NOUN
dem-15776	37	30	market	market	NOUN
dem-15776	37	31	.	.	PUNCT
dem-15776	38	1	they	they	PRON
dem-15776	38	2	also	also	ADV
dem-15776	38	3	found	find	VERB
dem-15776	38	4	that	that	SCONJ
dem-15776	38	5	industrial	industrial	ADJ
dem-15776	38	6	production	production	NOUN
dem-15776	38	7	and	and	CCONJ
dem-15776	38	8	trade	trade	NOUN
dem-15776	38	9	,	,	PUNCT
dem-15776	38	10	which	which	PRON
dem-15776	38	11	essentially	essentially	ADV
dem-15776	38	12	are	be	AUX
dem-15776	38	13	the	the	DET
dem-15776	38	14	measures	measure	NOUN
dem-15776	38	15	of	of	ADP
dem-15776	38	16	real	real	ADJ
dem-15776	38	17	economic	economic	ADJ
dem-15776	38	18	activity	activity	NOUN
dem-15776	38	19	in	in	ADP
dem-15776	38	20	singapore	singapore	PROPN
dem-15776	38	21	,	,	PUNCT
dem-15776	38	22	are	be	AUX
dem-15776	38	23	not	not	PART
dem-15776	38	24	cointegrated	cointegrate	VERB
dem-15776	38	25	with	with	ADP
dem-15776	38	26	its	its	PRON
dem-15776	38	27	stock	stock	NOUN
dem-15776	38	28	market	market	NOUN
dem-15776	38	29	.	.	PUNCT
dem-15776	39	1	wongbangpo	wongbangpo	NOUN
dem-15776	39	2	and	and	CCONJ
dem-15776	39	3	sharma	sharma	PROPN
dem-15776	39	4	(	(	PUNCT
dem-15776	39	5	2002	2002	NUM
dem-15776	39	6	)	)	PUNCT
dem-15776	39	7	also	also	ADV
dem-15776	39	8	employ	employ	VERB
dem-15776	39	9	a	a	DET
dem-15776	39	10	vecm	vecm	NOUN
dem-15776	39	11	model	model	NOUN
dem-15776	39	12	to	to	PART
dem-15776	39	13	study	study	VERB
dem-15776	39	14	the	the	DET
dem-15776	39	15	effects	effect	NOUN
dem-15776	39	16	of	of	ADP
dem-15776	39	17	different	different	ADJ
dem-15776	39	18	macroeconomic	macroeconomic	ADJ
dem-15776	39	19	variables	variable	NOUN
dem-15776	39	20	such	such	ADJ
dem-15776	39	21	as	as	ADP
dem-15776	39	22	gross	gross	ADJ
dem-15776	39	23	national	national	ADJ
dem-15776	39	24	product	product	NOUN
dem-15776	39	25	,	,	PUNCT
dem-15776	39	26	the	the	DET
dem-15776	39	27	consumer	consumer	NOUN
dem-15776	39	28	price	price	NOUN
dem-15776	39	29	index	index	NOUN
dem-15776	39	30	,	,	PUNCT
dem-15776	39	31	money	money	NOUN
dem-15776	39	32	supply	supply	NOUN
dem-15776	39	33	,	,	PUNCT
dem-15776	39	34	interest	interest	NOUN
dem-15776	39	35	rate	rate	NOUN
dem-15776	39	36	and	and	CCONJ
dem-15776	39	37	the	the	DET
dem-15776	39	38	exchange	exchange	NOUN
dem-15776	39	39	rate	rate	NOUN
dem-15776	39	40	on	on	ADP
dem-15776	39	41	the	the	DET
dem-15776	39	42	stock	stock	NOUN
dem-15776	39	43	prices	price	NOUN
dem-15776	39	44	in	in	ADP
dem-15776	39	45	five	five	NUM
dem-15776	39	46	asean	asean	ADJ
dem-15776	39	47	countries	country	NOUN
dem-15776	39	48	(	(	PUNCT
dem-15776	39	49	indonesia	indonesia	PROPN
dem-15776	39	50	,	,	PUNCT
dem-15776	39	51	malaysia	malaysia	PROPN
dem-15776	39	52	,	,	PUNCT
dem-15776	39	53	philippines	philippine	NOUN
dem-15776	39	54	,	,	PUNCT
dem-15776	39	55	singapore	singapore	PROPN
dem-15776	39	56	and	and	CCONJ
dem-15776	39	57	thailand	thailand	PROPN
dem-15776	39	58	)	)	PUNCT
dem-15776	39	59	.	.	PUNCT
dem-15776	40	1	from	from	ADP
dem-15776	40	2	the	the	DET
dem-15776	40	3	estimated	estimate	VERB
dem-15776	40	4	model	model	NOUN
dem-15776	40	5	they	they	PRON
dem-15776	40	6	observed	observe	VERB
dem-15776	40	7	both	both	CCONJ
dem-15776	40	8	a	a	DET
dem-15776	40	9	short	short	ADJ
dem-15776	40	10	-	-	PUNCT
dem-15776	40	11	term	term	NOUN
dem-15776	40	12	and	and	CCONJ
dem-15776	40	13	long	long	ADJ
dem-15776	40	14	-	-	PUNCT
dem-15776	40	15	term	term	NOUN
dem-15776	40	16	relationship	relationship	NOUN
dem-15776	40	17	between	between	ADP
dem-15776	40	18	the	the	DET
dem-15776	40	19	various	various	ADJ
dem-15776	40	20	macroeconomic	macroeconomic	ADJ
dem-15776	40	21	variables	variable	NOUN
dem-15776	40	22	and	and	CCONJ
dem-15776	40	23	stock	stock	NOUN
dem-15776	40	24	prices	price	NOUN
dem-15776	40	25	.	.	PUNCT
dem-15776	41	1	they	they	PRON
dem-15776	41	2	also	also	ADV
dem-15776	41	3	suggest	suggest	VERB
dem-15776	41	4	that	that	SCONJ
dem-15776	41	5	there	there	PRON
dem-15776	41	6	exists	exist	VERB
dem-15776	41	7	a	a	DET
dem-15776	41	8	bi	bi	ADJ
dem-15776	41	9	-	-	ADJ
dem-15776	41	10	directional	directional	ADJ
dem-15776	41	11	causality	causality	NOUN
dem-15776	41	12	between	between	ADP
dem-15776	41	13	these	these	DET
dem-15776	41	14	macroeconomic	macroeconomic	ADJ
dem-15776	41	15	variables	variable	NOUN
dem-15776	41	16	and	and	CCONJ
dem-15776	41	17	stock	stock	NOUN
dem-15776	41	18	prices	price	NOUN
dem-15776	41	19	in	in	ADP
dem-15776	41	20	every	every	DET
dem-15776	41	21	sample	sample	NOUN
dem-15776	41	22	country	country	NOUN
dem-15776	41	23	in	in	ADP
dem-15776	41	24	their	their	PRON
dem-15776	41	25	study	study	NOUN
dem-15776	41	26	.	.	PUNCT
dem-15776	42	1	abugri	abugri	PROPN
dem-15776	42	2	(	(	PUNCT
dem-15776	42	3	2008	2008	NUM
dem-15776	42	4	)	)	PUNCT
dem-15776	42	5	investigates	investigate	VERB
dem-15776	42	6	the	the	DET
dem-15776	42	7	effect	effect	NOUN
dem-15776	42	8	of	of	ADP
dem-15776	42	9	macroeconomic	macroeconomic	ADJ
dem-15776	42	10	volatility	volatility	NOUN
dem-15776	42	11	on	on	ADP
dem-15776	42	12	stock	stock	NOUN
dem-15776	42	13	returns	return	NOUN
dem-15776	42	14	in	in	ADP
dem-15776	42	15	four	four	NUM
dem-15776	42	16	latin	latin	ADJ
dem-15776	42	17	american	american	ADJ
dem-15776	42	18	countries	country	NOUN
dem-15776	42	19	(	(	PUNCT
dem-15776	42	20	argentina	argentina	PROPN
dem-15776	42	21	,	,	PUNCT
dem-15776	42	22	brazil	brazil	PROPN
dem-15776	42	23	,	,	PUNCT
dem-15776	42	24	chile	chile	PROPN
dem-15776	42	25	and	and	CCONJ
dem-15776	42	26	mexico	mexico	PROPN
dem-15776	42	27	)	)	PUNCT
dem-15776	42	28	using	use	VERB
dem-15776	42	29	a	a	DET
dem-15776	42	30	vector	vector	NOUN
dem-15776	42	31	autoregressive	autoregressive	ADJ
dem-15776	42	32	(	(	PUNCT
dem-15776	42	33	var	var	NOUN
dem-15776	42	34	)	)	PUNCT
dem-15776	42	35	model	model	NOUN
dem-15776	42	36	.	.	PUNCT
dem-15776	43	1	the	the	DET
dem-15776	43	2	macroeconomic	macroeconomic	ADJ
dem-15776	43	3	variables	variable	NOUN
dem-15776	43	4	considered	consider	VERB
dem-15776	43	5	in	in	ADP
dem-15776	43	6	the	the	DET
dem-15776	43	7	study	study	NOUN
dem-15776	43	8	include	include	VERB
dem-15776	43	9	exchange	exchange	NOUN
dem-15776	43	10	rates	rate	NOUN
dem-15776	43	11	,	,	PUNCT
dem-15776	43	12	interest	interest	NOUN
dem-15776	43	13	rates	rate	NOUN
dem-15776	43	14	,	,	PUNCT
dem-15776	43	15	industrial	industrial	ADJ
dem-15776	43	16	production	production	NOUN
dem-15776	43	17	and	and	CCONJ
dem-15776	43	18	money	money	NOUN
dem-15776	43	19	supply	supply	NOUN
dem-15776	43	20	.	.	PUNCT
dem-15776	44	1	in	in	ADP
dem-15776	44	2	addition	addition	NOUN
dem-15776	44	3	to	to	ADP
dem-15776	44	4	these	these	DET
dem-15776	44	5	macroeconomic	macroeconomic	ADJ
dem-15776	44	6	variables	variable	NOUN
dem-15776	44	7	they	they	PRON
dem-15776	44	8	also	also	ADV
dem-15776	44	9	included	include	VERB
dem-15776	44	10	the	the	DET
dem-15776	44	11	msci	msci	PROPN
dem-15776	44	12	world	world	PROPN
dem-15776	44	13	index	index	NOUN
dem-15776	44	14	and	and	CCONJ
dem-15776	44	15	the	the	DET
dem-15776	44	16	u.s.three	u.s.three	ADJ
dem-15776	44	17	-	-	PUNCT
dem-15776	44	18	month	month	NOUN
dem-15776	44	19	treasury	treasury	NOUN
dem-15776	44	20	yield	yield	NOUN
dem-15776	44	21	.	.	PUNCT
dem-15776	45	1	based	base	VERB
dem-15776	45	2	on	on	ADP
dem-15776	45	3	their	their	PRON
dem-15776	45	4	empirical	empirical	ADJ
dem-15776	45	5	findings	finding	NOUN
dem-15776	45	6	they	they	PRON
dem-15776	45	7	argue	argue	VERB
dem-15776	45	8	that	that	SCONJ
dem-15776	45	9	the	the	DET
dem-15776	45	10	effect	effect	NOUN
dem-15776	45	11	of	of	ADP
dem-15776	45	12	macroeconomic	macroeconomic	ADJ
dem-15776	45	13	variables	variable	NOUN
dem-15776	45	14	on	on	ADP
dem-15776	45	15	stock	stock	NOUN
dem-15776	45	16	returns	return	NOUN
dem-15776	45	17	varies	vary	VERB
dem-15776	45	18	from	from	ADP
dem-15776	45	19	country	country	NOUN
dem-15776	45	20	to	to	ADP
dem-15776	45	21	country	country	NOUN
dem-15776	45	22	.	.	PUNCT
dem-15776	46	1	2	2	NUM
dem-15776	46	2	many	many	ADJ
dem-15776	46	3	researchers	researcher	NOUN
dem-15776	46	4	have	have	AUX
dem-15776	46	5	studied	study	VERB
dem-15776	46	6	the	the	DET
dem-15776	46	7	effects	effect	NOUN
dem-15776	46	8	of	of	ADP
dem-15776	46	9	macroeconomic	macroeconomic	ADJ
dem-15776	46	10	variables	variable	NOUN
dem-15776	46	11	on	on	ADP
dem-15776	46	12	stock	stock	NOUN
dem-15776	46	13	markets	market	NOUN
dem-15776	46	14	in	in	ADP
dem-15776	46	15	different	different	ADJ
dem-15776	46	16	countries	country	NOUN
dem-15776	46	17	(	(	PUNCT
dem-15776	46	18	e.g.	e.g.	ADV
dem-15776	46	19	,	,	PUNCT
dem-15776	46	20	see	see	VERB
dem-15776	46	21	fama	fama	NOUN
dem-15776	46	22	,	,	PUNCT
dem-15776	46	23	1981	1981	NUM
dem-15776	46	24	;	;	PUNCT
dem-15776	46	25	chen	chen	PROPN
dem-15776	46	26	,	,	PUNCT
dem-15776	46	27	1986	1986	NUM
dem-15776	46	28	;	;	PUNCT
dem-15776	46	29	geske	geske	ADJ
dem-15776	46	30	and	and	CCONJ
dem-15776	46	31	roll	roll	NOUN
dem-15776	46	32	,	,	PUNCT
dem-15776	46	33	1983	1983	NUM
dem-15776	46	34	;	;	PUNCT
dem-15776	46	35	huang	huang	PROPN
dem-15776	46	36	and	and	CCONJ
dem-15776	46	37	kracaw	kracaw	PROPN
dem-15776	46	38	,	,	PUNCT
dem-15776	46	39	1984	1984	NUM
dem-15776	46	40	;	;	PUNCT
dem-15776	46	41	kwon	kwon	PROPN
dem-15776	46	42	,	,	PUNCT
dem-15776	46	43	shin	shin	NOUN
dem-15776	46	44	and	and	CCONJ
dem-15776	46	45	bacon	bacon	NOUN
dem-15776	46	46	,	,	PUNCT
dem-15776	46	47	1997	1997	NUM
dem-15776	46	48	;	;	PUNCT
dem-15776	46	49	humpe	humpe	PROPN
dem-15776	46	50	and	and	CCONJ
dem-15776	46	51	macmillan	macmillan	PROPN
dem-15776	46	52	,	,	PUNCT
dem-15776	46	53	2008	2008	NUM
dem-15776	46	54	)	)	PUNCT
dem-15776	46	55	.	.	PUNCT
dem-15776	47	1	most	most	ADJ
dem-15776	47	2	of	of	ADP
dem-15776	47	3	these	these	DET
dem-15776	47	4	studies	study	NOUN
dem-15776	47	5	are	be	AUX
dem-15776	47	6	based	base	VERB
dem-15776	47	7	on	on	ADP
dem-15776	47	8	data	datum	NOUN
dem-15776	47	9	from	from	ADP
dem-15776	47	10	developed	developed	ADJ
dem-15776	47	11	countries	country	NOUN
dem-15776	47	12	,	,	PUNCT
dem-15776	47	13	such	such	ADJ
dem-15776	47	14	as	as	ADP
dem-15776	47	15	the	the	DET
dem-15776	47	16	united	united	PROPN
dem-15776	47	17	states	states	PROPN
dem-15776	47	18	,	,	PUNCT
dem-15776	47	19	united	united	ADJ
dem-15776	47	20	kingdom	kingdom	PROPN
dem-15776	47	21	,	,	PUNCT
dem-15776	47	22	and	and	CCONJ
dem-15776	47	23	japan	japan	PROPN
dem-15776	47	24	,	,	PUNCT
dem-15776	47	25	where	where	SCONJ
dem-15776	47	26	the	the	DET
dem-15776	47	27	financial	financial	ADJ
dem-15776	47	28	sector	sector	NOUN
dem-15776	47	29	is	be	AUX
dem-15776	47	30	well	well	ADV
dem-15776	47	31	developed	develop	VERB
dem-15776	47	32	.	.	PUNCT
dem-15776	48	1	corporate	corporate	ADJ
dem-15776	48	2	governance	governance	NOUN
dem-15776	48	3	is	be	AUX
dem-15776	48	4	at	at	ADP
dem-15776	48	5	a	a	DET
dem-15776	48	6	mature	mature	ADJ
dem-15776	48	7	state	state	NOUN
dem-15776	48	8	in	in	ADP
dem-15776	48	9	these	these	DET
dem-15776	48	10	developed	develop	VERB
dem-15776	48	11	countries	country	NOUN
dem-15776	48	12	(	(	PUNCT
dem-15776	48	13	shleifer	shleifer	NOUN
dem-15776	48	14	and	and	CCONJ
dem-15776	48	15	vishny	vishny	PROPN
dem-15776	48	16	,	,	PUNCT
dem-15776	48	17	1997	1997	NUM
dem-15776	48	18	)	)	PUNCT
dem-15776	48	19	.	.	PUNCT
dem-15776	49	1	although	although	SCONJ
dem-15776	49	2	,	,	PUNCT
dem-15776	49	3	according	accord	VERB
dem-15776	49	4	to	to	ADP
dem-15776	49	5	fama	fama	PROPN
dem-15776	49	6	’s	’s	PART
dem-15776	49	7	efficient	efficient	ADJ
dem-15776	49	8	market	market	NOUN
dem-15776	49	9	hypothesis	hypothesis	NOUN
dem-15776	49	10	(	(	PUNCT
dem-15776	49	11	emh	emh	PROPN
dem-15776	49	12	)	)	PUNCT
dem-15776	49	13	continuum	continuum	PROPN
dem-15776	49	14	,	,	PUNCT
dem-15776	49	15	the	the	DET
dem-15776	49	16	stock	stock	NOUN
dem-15776	49	17	market	market	NOUN
dem-15776	49	18	in	in	ADP
dem-15776	49	19	the	the	DET
dem-15776	49	20	u.s	u.s	PROPN
dem-15776	49	21	.	.	PROPN
dem-15776	49	22	is	be	AUX
dem-15776	49	23	semi	semi	ADJ
dem-15776	49	24	-	-	ADJ
dem-15776	49	25	strong	strong	ADJ
dem-15776	49	26	efficient	efficient	ADJ
dem-15776	49	27	,	,	PUNCT
dem-15776	49	28	it	it	PRON
dem-15776	49	29	is	be	AUX
dem-15776	49	30	still	still	ADV
dem-15776	49	31	the	the	DET
dem-15776	49	32	most	most	ADV
dem-15776	49	33	efficient	efficient	ADJ
dem-15776	49	34	capital	capital	NOUN
dem-15776	49	35	market	market	NOUN
dem-15776	49	36	in	in	ADP
dem-15776	49	37	the	the	DET
dem-15776	49	38	world	world	NOUN
dem-15776	49	39	.	.	PUNCT
dem-15776	50	1	this	this	PRON
dem-15776	50	2	is	be	AUX
dem-15776	50	3	due	due	ADJ
dem-15776	50	4	largely	largely	ADV
dem-15776	50	5	to	to	ADP
dem-15776	50	6	its	its	PRON
dem-15776	50	7	well	well	ADV
dem-15776	50	8	-	-	PUNCT
dem-15776	50	9	evolved	evolve	VERB
dem-15776	50	10	and	and	CCONJ
dem-15776	50	11	mature	mature	VERB
dem-15776	50	12	corporate	corporate	ADJ
dem-15776	50	13	governance	governance	NOUN
dem-15776	50	14	structure	structure	NOUN
dem-15776	50	15	.	.	PUNCT
dem-15776	51	1	kamal	kamal	PROPN
dem-15776	51	2	p.	p.	PROPN
dem-15776	51	3	upadhyaya	upadhyaya	PROPN
dem-15776	51	4	,	,	PUNCT
dem-15776	51	5	raja	raja	PROPN
dem-15776	51	6	nag	nag	PROPN
dem-15776	51	7	and	and	CCONJ
dem-15776	52	1	franklin	franklin	PROPN
dem-15776	52	2	g.	g.	PROPN
dem-15776	52	3	mixon	mixon	PROPN
dem-15776	52	4	,	,	PUNCT
dem-15776	52	5	jr	jr	PROPN
dem-15776	52	6	.	.	PROPN
dem-15776	52	7	dynamic	dynamic	ADJ
dem-15776	52	8	econometric	econometric	ADJ
dem-15776	52	9	models	model	NOUN
dem-15776	52	10	18	18	NUM
dem-15776	52	11	(	(	PUNCT
dem-15776	52	12	2018	2018	NUM
dem-15776	52	13	)	)	PUNCT
dem-15776	52	14	35–47	35–47	NUM
dem-15776	52	15	38	38	NUM
dem-15776	52	16	thus	thus	ADV
dem-15776	52	17	,	,	PUNCT
dem-15776	52	18	it	it	PRON
dem-15776	52	19	is	be	AUX
dem-15776	52	20	not	not	PART
dem-15776	52	21	possible	possible	ADJ
dem-15776	52	22	to	to	PART
dem-15776	52	23	determine	determine	VERB
dem-15776	52	24	,	,	PUNCT
dem-15776	52	25	a	a	PRON
dem-15776	52	26	priori	priori	X
dem-15776	52	27	,	,	PUNCT
dem-15776	52	28	the	the	DET
dem-15776	52	29	effect	effect	NOUN
dem-15776	52	30	of	of	ADP
dem-15776	52	31	a	a	DET
dem-15776	52	32	change	change	NOUN
dem-15776	52	33	of	of	ADP
dem-15776	52	34	any	any	DET
dem-15776	52	35	individual	individual	ADJ
dem-15776	52	36	macroeconomic	macroeconomic	ADJ
dem-15776	52	37	variable	variable	NOUN
dem-15776	52	38	on	on	ADP
dem-15776	52	39	market	market	NOUN
dem-15776	52	40	returns	return	NOUN
dem-15776	52	41	3	3	NUM
dem-15776	52	42	.	.	PUNCT
dem-15776	53	1	humpe	humpe	PROPN
dem-15776	53	2	and	and	CCONJ
dem-15776	53	3	macmillan	macmillan	PROPN
dem-15776	53	4	(	(	PUNCT
dem-15776	53	5	2009	2009	NUM
dem-15776	53	6	)	)	PUNCT
dem-15776	53	7	examine	examine	NOUN
dem-15776	53	8	,	,	PUNCT
dem-15776	53	9	using	use	VERB
dem-15776	53	10	johansen	johansen	PROPN
dem-15776	53	11	’s	’s	PART
dem-15776	53	12	(	(	PUNCT
dem-15776	53	13	1991	1991	NUM
dem-15776	53	14	)	)	PUNCT
dem-15776	53	15	multivariate	multivariate	NOUN
dem-15776	53	16	cointegration	cointegration	NOUN
dem-15776	53	17	test	test	NOUN
dem-15776	53	18	,	,	PUNCT
dem-15776	53	19	the	the	DET
dem-15776	53	20	importance	importance	NOUN
dem-15776	53	21	of	of	ADP
dem-15776	53	22	various	various	ADJ
dem-15776	53	23	macroeconomic	macroeconomic	ADJ
dem-15776	53	24	variables	variable	NOUN
dem-15776	53	25	in	in	ADP
dem-15776	53	26	explaining	explain	VERB
dem-15776	53	27	long	long	ADJ
dem-15776	53	28	-	-	PUNCT
dem-15776	53	29	term	term	NOUN
dem-15776	53	30	movements	movement	NOUN
dem-15776	53	31	in	in	ADP
dem-15776	53	32	the	the	DET
dem-15776	53	33	stock	stock	NOUN
dem-15776	53	34	markets	market	NOUN
dem-15776	53	35	in	in	ADP
dem-15776	53	36	both	both	CCONJ
dem-15776	53	37	the	the	DET
dem-15776	53	38	u.s	u.s	PROPN
dem-15776	53	39	.	.	PROPN
dem-15776	53	40	and	and	CCONJ
dem-15776	53	41	japan	japan	PROPN
dem-15776	53	42	.	.	PUNCT
dem-15776	54	1	in	in	ADP
dem-15776	54	2	doing	do	VERB
dem-15776	54	3	so	so	ADV
dem-15776	54	4	they	they	PRON
dem-15776	54	5	include	include	VERB
dem-15776	54	6	industrial	industrial	ADJ
dem-15776	54	7	production	production	NOUN
dem-15776	54	8	,	,	PUNCT
dem-15776	54	9	the	the	DET
dem-15776	54	10	cpi	cpi	NOUN
dem-15776	54	11	,	,	PUNCT
dem-15776	54	12	money	money	NOUN
dem-15776	54	13	supply	supply	NOUN
dem-15776	54	14	,	,	PUNCT
dem-15776	54	15	the	the	DET
dem-15776	54	16	long	long	ADJ
dem-15776	54	17	-	-	PUNCT
dem-15776	54	18	term	term	NOUN
dem-15776	54	19	interest	interest	NOUN
dem-15776	54	20	rate	rate	NOUN
dem-15776	54	21	and	and	CCONJ
dem-15776	54	22	stock	stock	NOUN
dem-15776	54	23	prices	price	NOUN
dem-15776	54	24	in	in	ADP
dem-15776	54	25	the	the	DET
dem-15776	54	26	statistical	statistical	ADJ
dem-15776	54	27	model.their	model.their	PRON
dem-15776	54	28	findings	finding	NOUN
dem-15776	54	29	suggest	suggest	VERB
dem-15776	54	30	that	that	SCONJ
dem-15776	54	31	in	in	ADP
dem-15776	54	32	the	the	DET
dem-15776	54	33	u.s	u.s	PROPN
dem-15776	54	34	.	.	PROPN
dem-15776	54	35	,	,	PUNCT
dem-15776	54	36	stock	stock	NOUN
dem-15776	54	37	prices	price	NOUN
dem-15776	54	38	are	be	AUX
dem-15776	54	39	positively	positively	ADV
dem-15776	54	40	related	relate	VERB
dem-15776	54	41	to	to	ADP
dem-15776	54	42	industrial	industrial	ADJ
dem-15776	54	43	production	production	NOUN
dem-15776	54	44	and	and	CCONJ
dem-15776	54	45	negatively	negatively	ADV
dem-15776	54	46	related	relate	VERB
dem-15776	54	47	to	to	ADP
dem-15776	54	48	both	both	CCONJ
dem-15776	54	49	the	the	DET
dem-15776	54	50	cpi	cpi	PROPN
dem-15776	54	51	and	and	CCONJ
dem-15776	54	52	long	long	ADJ
dem-15776	54	53	-	-	PUNCT
dem-15776	54	54	term	term	NOUN
dem-15776	54	55	interest	interest	NOUN
dem-15776	54	56	rates	rate	NOUN
dem-15776	54	57	.	.	PUNCT
dem-15776	55	1	the	the	DET
dem-15776	55	2	relationship	relationship	NOUN
dem-15776	55	3	between	between	ADP
dem-15776	55	4	the	the	DET
dem-15776	55	5	stock	stock	NOUN
dem-15776	55	6	returns	return	NOUN
dem-15776	55	7	and	and	CCONJ
dem-15776	55	8	the	the	DET
dem-15776	55	9	u.s	u.s	PROPN
dem-15776	55	10	.	.	PROPN
dem-15776	55	11	money	money	NOUN
dem-15776	55	12	supply	supply	NOUN
dem-15776	55	13	is	be	AUX
dem-15776	55	14	found	find	VERB
dem-15776	55	15	to	to	PART
dem-15776	55	16	be	be	AUX
dem-15776	55	17	positive	positive	ADJ
dem-15776	55	18	but	but	CCONJ
dem-15776	55	19	insignificant	insignificant	ADJ
dem-15776	55	20	.	.	PUNCT
dem-15776	56	1	in	in	ADP
dem-15776	56	2	case	case	NOUN
dem-15776	56	3	of	of	ADP
dem-15776	56	4	japan	japan	PROPN
dem-15776	56	5	,	,	PUNCT
dem-15776	56	6	stock	stock	NOUN
dem-15776	56	7	prices	price	NOUN
dem-15776	56	8	are	be	AUX
dem-15776	56	9	positively	positively	ADV
dem-15776	56	10	affected	affect	VERB
dem-15776	56	11	by	by	ADP
dem-15776	56	12	industrial	industrial	ADJ
dem-15776	56	13	production	production	NOUN
dem-15776	56	14	but	but	CCONJ
dem-15776	56	15	negatively	negatively	ADV
dem-15776	56	16	affected	affect	VERB
dem-15776	56	17	by	by	ADP
dem-15776	56	18	the	the	DET
dem-15776	56	19	money	money	NOUN
dem-15776	56	20	supply	supply	NOUN
dem-15776	56	21	,	,	PUNCT
dem-15776	56	22	while	while	SCONJ
dem-15776	56	23	industrial	industrial	ADJ
dem-15776	56	24	production	production	NOUN
dem-15776	56	25	is	be	AUX
dem-15776	56	26	negatively	negatively	ADV
dem-15776	56	27	influenced	influence	VERB
dem-15776	56	28	by	by	ADP
dem-15776	56	29	both	both	CCONJ
dem-15776	56	30	the	the	DET
dem-15776	56	31	cpi	cpi	PROPN
dem-15776	56	32	and	and	CCONJ
dem-15776	56	33	long	long	ADV
dem-15776	56	34	-	-	PUNCT
dem-15776	56	35	run	run	VERB
dem-15776	56	36	interest	interest	NOUN
dem-15776	56	37	rates	rate	NOUN
dem-15776	56	38	.	.	PUNCT
dem-15776	57	1	these	these	DET
dem-15776	57	2	authors	author	NOUN
dem-15776	57	3	conclude	conclude	VERB
dem-15776	57	4	that	that	SCONJ
dem-15776	57	5	the	the	DET
dem-15776	57	6	slump	slump	NOUN
dem-15776	57	7	in	in	ADP
dem-15776	57	8	the	the	DET
dem-15776	57	9	japanese	japanese	ADJ
dem-15776	57	10	economy	economy	NOUN
dem-15776	57	11	during	during	ADP
dem-15776	57	12	the	the	DET
dem-15776	57	13	1990s	1990s	NUM
dem-15776	57	14	,	,	PUNCT
dem-15776	57	15	and	and	CCONJ
dem-15776	57	16	the	the	DET
dem-15776	57	17	subsequent	subsequent	ADJ
dem-15776	57	18	liquidity	liquidity	NOUN
dem-15776	57	19	trap	trap	NOUN
dem-15776	57	20	experience	experience	NOUN
dem-15776	57	21	there	there	ADV
dem-15776	57	22	,	,	PUNCT
dem-15776	57	23	may	may	AUX
dem-15776	57	24	be	be	AUX
dem-15776	57	25	responsible	responsible	ADJ
dem-15776	57	26	for	for	ADP
dem-15776	57	27	these	these	DET
dem-15776	57	28	contrasting	contrast	VERB
dem-15776	57	29	results	result	NOUN
dem-15776	57	30	.	.	PUNCT
dem-15776	58	1	lastly	lastly	ADV
dem-15776	58	2	,	,	PUNCT
dem-15776	58	3	al	al	PROPN
dem-15776	58	4	-	-	PUNCT
dem-15776	58	5	tamami	tamami	PROPN
dem-15776	58	6	and	and	CCONJ
dem-15776	58	7	rahman	rahman	PROPN
dem-15776	58	8	(	(	PUNCT
dem-15776	58	9	2011	2011	NUM
dem-15776	58	10	)	)	PUNCT
dem-15776	58	11	study	study	VERB
dem-15776	58	12	the	the	DET
dem-15776	58	13	factors	factor	NOUN
dem-15776	58	14	affecting	affect	VERB
dem-15776	58	15	stock	stock	NOUN
dem-15776	58	16	prices	price	NOUN
dem-15776	58	17	in	in	ADP
dem-15776	58	18	the	the	DET
dem-15776	58	19	united	united	PROPN
dem-15776	58	20	arab	arab	PROPN
dem-15776	58	21	emirates	emirates	PROPN
dem-15776	58	22	(	(	PUNCT
dem-15776	58	23	uae	uae	PROPN
dem-15776	58	24	)	)	PUNCT
dem-15776	58	25	.	.	PUNCT
dem-15776	59	1	in	in	ADP
dem-15776	59	2	doing	do	VERB
dem-15776	59	3	so	so	ADV
dem-15776	59	4	they	they	PRON
dem-15776	59	5	develop	develop	VERB
dem-15776	59	6	a	a	DET
dem-15776	59	7	linear	linear	ADJ
dem-15776	59	8	regression	regression	NOUN
dem-15776	59	9	model	model	NOUN
dem-15776	59	10	in	in	ADP
dem-15776	59	11	which	which	PRON
dem-15776	59	12	stock	stock	NOUN
dem-15776	59	13	prices	price	NOUN
dem-15776	59	14	are	be	AUX
dem-15776	59	15	a	a	DET
dem-15776	59	16	function	function	NOUN
dem-15776	59	17	of	of	ADP
dem-15776	59	18	earnings	earning	NOUN
dem-15776	59	19	per	per	ADP
dem-15776	59	20	share	share	NOUN
dem-15776	59	21	,	,	PUNCT
dem-15776	59	22	dividend	dividend	VERB
dem-15776	59	23	per	per	ADP
dem-15776	59	24	share	share	NOUN
dem-15776	59	25	,	,	PUNCT
dem-15776	59	26	oil	oil	NOUN
dem-15776	59	27	prices	price	NOUN
dem-15776	59	28	,	,	PUNCT
dem-15776	59	29	gdp	gdp	NOUN
dem-15776	59	30	,	,	PUNCT
dem-15776	59	31	the	the	DET
dem-15776	59	32	cpi	cpi	NOUN
dem-15776	59	33	,	,	PUNCT
dem-15776	59	34	interest	interest	NOUN
dem-15776	59	35	rates	rate	NOUN
dem-15776	59	36	and	and	CCONJ
dem-15776	59	37	the	the	DET
dem-15776	59	38	money	money	NOUN
dem-15776	59	39	supply	supply	NOUN
dem-15776	59	40	.	.	PUNCT
dem-15776	60	1	their	their	PRON
dem-15776	60	2	analysis	analysis	NOUN
dem-15776	60	3	of	of	ADP
dem-15776	60	4	time	time	NOUN
dem-15776	60	5	series	series	PROPN
dem-15776	60	6	data	datum	NOUN
dem-15776	60	7	from	from	ADP
dem-15776	60	8	17	17	NUM
dem-15776	60	9	companies	company	NOUN
dem-15776	60	10	,	,	PUNCT
dem-15776	60	11	divided	divide	VERB
dem-15776	60	12	into	into	ADP
dem-15776	60	13	two	two	NUM
dem-15776	60	14	groups	group	NOUN
dem-15776	60	15	–	–	PUNCT
dem-15776	60	16	banks	bank	NOUN
dem-15776	60	17	and	and	CCONJ
dem-15776	60	18	non	non	NOUN
dem-15776	60	19	-	-	ADJ
dem-15776	60	20	banks	bank	NOUN
dem-15776	60	21	–	–	PUNCT
dem-15776	60	22	for	for	ADP
dem-15776	60	23	the	the	DET
dem-15776	60	24	period	period	NOUN
dem-15776	60	25	1995–2005	1995–2005	NUM
dem-15776	60	26	suggests	suggest	VERB
dem-15776	60	27	that	that	SCONJ
dem-15776	60	28	both	both	DET
dem-15776	60	29	gdp	gdp	NOUN
dem-15776	60	30	and	and	CCONJ
dem-15776	60	31	the	the	DET
dem-15776	60	32	money	money	NOUN
dem-15776	60	33	supply	supply	NOUN
dem-15776	60	34	positively	positively	ADV
dem-15776	60	35	affects	affect	VERB
dem-15776	60	36	both	both	DET
dem-15776	60	37	stock	stock	NOUN
dem-15776	60	38	prices	price	NOUN
dem-15776	60	39	for	for	ADP
dem-15776	60	40	banks	bank	NOUN
dem-15776	60	41	and	and	CCONJ
dem-15776	60	42	non	non	NOUN
dem-15776	60	43	-	-	NOUN
dem-15776	60	44	banks	bank	NOUN
dem-15776	60	45	,	,	PUNCT
dem-15776	60	46	whereas	whereas	SCONJ
dem-15776	60	47	the	the	DET
dem-15776	60	48	cpi	cpi	NOUN
dem-15776	60	49	has	have	VERB
dem-15776	60	50	a	a	DET
dem-15776	60	51	negative	negative	ADJ
dem-15776	60	52	effect	effect	NOUN
dem-15776	60	53	on	on	ADP
dem-15776	60	54	both	both	DET
dem-15776	60	55	groups	group	NOUN
dem-15776	60	56	of	of	ADP
dem-15776	60	57	stock	stock	NOUN
dem-15776	60	58	prices	price	NOUN
dem-15776	60	59	.	.	PUNCT
dem-15776	61	1	the	the	DET
dem-15776	61	2	interest	interest	NOUN
dem-15776	61	3	rate	rate	NOUN
dem-15776	61	4	fails	fail	VERB
dem-15776	61	5	to	to	PART
dem-15776	61	6	impact	impact	VERB
dem-15776	61	7	stock	stock	NOUN
dem-15776	61	8	prices	price	NOUN
dem-15776	61	9	in	in	ADP
dem-15776	61	10	either	either	DET
dem-15776	61	11	subgroup	subgroup	NOUN
dem-15776	61	12	.	.	PUNCT
dem-15776	62	1	2	2	X
dem-15776	62	2	.	.	X
dem-15776	62	3	methodology	methodology	NOUN
dem-15776	62	4	and	and	CCONJ
dem-15776	62	5	data	datum	NOUN
dem-15776	62	6	based	base	VERB
dem-15776	62	7	on	on	ADP
dem-15776	62	8	the	the	DET
dem-15776	62	9	economics	economic	NOUN
dem-15776	62	10	literature	literature	NOUN
dem-15776	62	11	discussed	discuss	VERB
dem-15776	62	12	above	above	ADV
dem-15776	62	13	,	,	PUNCT
dem-15776	62	14	the	the	DET
dem-15776	62	15	following	follow	VERB
dem-15776	62	16	model	model	NOUN
dem-15776	62	17	is	be	AUX
dem-15776	62	18	developed	develop	VERB
dem-15776	62	19	,	,	PUNCT
dem-15776	62	20	sp	sp	ADP
dem-15776	62	21	=	=	SYM
dem-15776	62	22	f	f	PROPN
dem-15776	62	23	(	(	PUNCT
dem-15776	62	24	iip	iip	PROPN
dem-15776	62	25	,	,	PUNCT
dem-15776	62	26	ms	ms	PROPN
dem-15776	62	27	,	,	PUNCT
dem-15776	62	28	wpi	wpi	NOUN
dem-15776	62	29	,	,	PUNCT
dem-15776	62	30	r	r	NOUN
dem-15776	62	31	,	,	PUNCT
dem-15776	62	32	exch	exch	PROPN
dem-15776	62	33	)	)	PUNCT
dem-15776	62	34	,	,	PUNCT
dem-15776	62	35	(	(	PUNCT
dem-15776	62	36	1	1	X
dem-15776	62	37	)	)	PUNCT
dem-15776	62	38	where	where	SCONJ
dem-15776	62	39	the	the	DET
dem-15776	62	40	dependent	dependent	ADJ
dem-15776	62	41	variable	variable	NOUN
dem-15776	62	42	,	,	PUNCT
dem-15776	62	43	sp	sp	NOUN
dem-15776	62	44	,	,	PUNCT
dem-15776	62	45	represents	represent	VERB
dem-15776	62	46	india	india	PROPN
dem-15776	62	47	’s	’s	PART
dem-15776	62	48	stock	stock	PROPN
dem-15776	62	49	price	price	NOUN
dem-15776	62	50	index	index	NOUN
dem-15776	62	51	.	.	PUNCT
dem-15776	63	1	on	on	ADP
dem-15776	63	2	the	the	DET
dem-15776	63	3	right	right	ADJ
dem-15776	63	4	-	-	PUNCT
dem-15776	63	5	hand	hand	NOUN
dem-15776	63	6	side	side	NOUN
dem-15776	63	7	are	be	AUX
dem-15776	63	8	national	national	ADJ
dem-15776	63	9	output	output	NOUN
dem-15776	63	10	,	,	PUNCT
dem-15776	63	11	iip	iip	PROPN
dem-15776	63	12	,	,	PUNCT
dem-15776	63	13	as	as	SCONJ
dem-15776	63	14	measured	measure	VERB
dem-15776	63	15	by	by	ADP
dem-15776	63	16	the	the	DET
dem-15776	63	17	index	index	NOUN
dem-15776	63	18	of	of	ADP
dem-15776	63	19	industrial	industrial	ADJ
dem-15776	63	20	production	production	NOUN
dem-15776	63	21	,	,	PUNCT
dem-15776	63	22	the	the	DET
dem-15776	63	23	m1	m1	PROPN
dem-15776	63	24	money	money	NOUN
dem-15776	63	25	supply	supply	NOUN
dem-15776	63	26	,	,	PUNCT
dem-15776	63	27	ms	ms	PROPN
dem-15776	63	28	,	,	PUNCT
dem-15776	63	29	the	the	DET
dem-15776	63	30	price	price	NOUN
dem-15776	63	31	level	level	NOUN
dem-15776	63	32	,	,	PUNCT
dem-15776	63	33	wpi	wpi	NOUN
dem-15776	63	34	,	,	PUNCT
dem-15776	63	35	as	as	ADP
dem-15776	63	36	3	3	NUM
dem-15776	63	37	an	an	DET
dem-15776	63	38	additional	additional	ADJ
dem-15776	63	39	finding	finding	NOUN
dem-15776	63	40	of	of	ADP
dem-15776	63	41	interest	interest	NOUN
dem-15776	63	42	in	in	ADP
dem-15776	63	43	this	this	DET
dem-15776	63	44	study	study	NOUN
dem-15776	63	45	is	be	AUX
dem-15776	63	46	that	that	SCONJ
dem-15776	63	47	the	the	DET
dem-15776	63	48	global	global	ADJ
dem-15776	63	49	variables	variable	NOUN
dem-15776	63	50	(	(	PUNCT
dem-15776	63	51	i.e.	i.e.	X
dem-15776	63	52	,	,	PUNCT
dem-15776	63	53	the	the	DET
dem-15776	63	54	msci	msci	PROPN
dem-15776	63	55	world	world	PROPN
dem-15776	63	56	index	index	NOUN
dem-15776	63	57	and	and	CCONJ
dem-15776	63	58	the	the	DET
dem-15776	63	59	u.s	u.s	PROPN
dem-15776	63	60	.	.	PROPN
dem-15776	63	61	treasury	treasury	PROPN
dem-15776	63	62	yield	yield	NOUN
dem-15776	63	63	)	)	PUNCT
dem-15776	63	64	are	be	AUX
dem-15776	63	65	more	more	ADV
dem-15776	63	66	consistent	consistent	ADJ
dem-15776	63	67	in	in	ADP
dem-15776	63	68	explaining	explain	VERB
dem-15776	63	69	stock	stock	NOUN
dem-15776	63	70	returns	return	NOUN
dem-15776	63	71	across	across	ADP
dem-15776	63	72	the	the	DET
dem-15776	63	73	countries	country	NOUN
dem-15776	63	74	than	than	SCONJ
dem-15776	63	75	are	be	AUX
dem-15776	63	76	the	the	DET
dem-15776	63	77	domestic	domestic	ADJ
dem-15776	63	78	macroeconomic	macroeconomic	ADJ
dem-15776	63	79	variables	variable	NOUN
dem-15776	63	80	.	.	PUNCT
dem-15776	64	1	stock	stock	NOUN
dem-15776	64	2	market	market	NOUN
dem-15776	64	3	prices	price	NOUN
dem-15776	64	4	and	and	CCONJ
dem-15776	64	5	the	the	DET
dem-15776	64	6	macroeconomics	macroeconomic	NOUN
dem-15776	64	7	of	of	ADP
dem-15776	64	8	emerging	emerge	VERB
dem-15776	64	9	economies	economy	NOUN
dem-15776	64	10	dynamic	dynamic	ADJ
dem-15776	64	11	econometric	econometric	ADJ
dem-15776	64	12	models	model	NOUN
dem-15776	64	13	18	18	NUM
dem-15776	64	14	(	(	PUNCT
dem-15776	64	15	2018	2018	NUM
dem-15776	64	16	)	)	PUNCT
dem-15776	64	17	35–47	35–47	NUM
dem-15776	64	18	39	39	NUM
dem-15776	64	19	measured	measure	VERB
dem-15776	64	20	by	by	ADP
dem-15776	64	21	the	the	DET
dem-15776	64	22	wholesale	wholesale	ADJ
dem-15776	64	23	price	price	NOUN
dem-15776	64	24	index	index	NOUN
dem-15776	64	25	,	,	PUNCT
dem-15776	64	26	the	the	DET
dem-15776	64	27	nominal	nominal	ADJ
dem-15776	64	28	interest	interest	NOUN
dem-15776	64	29	rate	rate	NOUN
dem-15776	64	30	,	,	PUNCT
dem-15776	64	31	r	r	NOUN
dem-15776	64	32	,	,	PUNCT
dem-15776	64	33	as	as	SCONJ
dem-15776	64	34	measured	measure	VERB
dem-15776	64	35	by	by	ADP
dem-15776	64	36	the	the	DET
dem-15776	64	37	10	10	NUM
dem-15776	64	38	-	-	PUNCT
dem-15776	64	39	year	year	NOUN
dem-15776	64	40	treasury	treasury	NOUN
dem-15776	64	41	rate	rate	NOUN
dem-15776	64	42	,	,	PUNCT
dem-15776	64	43	and	and	CCONJ
dem-15776	64	44	the	the	DET
dem-15776	64	45	exchange	exchange	NOUN
dem-15776	64	46	rate	rate	NOUN
dem-15776	64	47	,	,	PUNCT
dem-15776	64	48	exch	exch	PROPN
dem-15776	64	49	4	4	NUM
dem-15776	64	50	.	.	PUNCT
dem-15776	65	1	an	an	DET
dem-15776	65	2	increase	increase	NOUN
dem-15776	65	3	in	in	ADP
dem-15776	65	4	economic	economic	ADJ
dem-15776	65	5	activity	activity	NOUN
dem-15776	65	6	not	not	PART
dem-15776	65	7	only	only	ADV
dem-15776	65	8	increases	increase	VERB
dem-15776	65	9	corporate	corporate	ADJ
dem-15776	65	10	profitability	profitability	NOUN
dem-15776	65	11	,	,	PUNCT
dem-15776	65	12	it	it	PRON
dem-15776	65	13	may	may	AUX
dem-15776	65	14	also	also	ADV
dem-15776	65	15	increase	increase	VERB
dem-15776	65	16	expected	expect	VERB
dem-15776	65	17	future	future	ADJ
dem-15776	65	18	cash	cash	NOUN
dem-15776	65	19	flows	flow	NOUN
dem-15776	65	20	.	.	PUNCT
dem-15776	66	1	this	this	PRON
dem-15776	66	2	in	in	ADP
dem-15776	66	3	turn	turn	NOUN
dem-15776	66	4	will	will	AUX
dem-15776	66	5	have	have	VERB
dem-15776	66	6	a	a	DET
dem-15776	66	7	positive	positive	ADJ
dem-15776	66	8	effect	effect	NOUN
dem-15776	66	9	on	on	ADP
dem-15776	66	10	stock	stock	NOUN
dem-15776	66	11	prices	price	NOUN
dem-15776	66	12	.	.	PUNCT
dem-15776	67	1	accordingly	accordingly	ADV
dem-15776	67	2	,	,	PUNCT
dem-15776	67	3	a	a	DET
dem-15776	67	4	decrease	decrease	NOUN
dem-15776	67	5	in	in	ADP
dem-15776	67	6	economic	economic	ADJ
dem-15776	67	7	activity	activity	NOUN
dem-15776	67	8	may	may	AUX
dem-15776	67	9	lower	lower	VERB
dem-15776	67	10	corporate	corporate	ADJ
dem-15776	67	11	profitability	profitability	NOUN
dem-15776	67	12	and	and	CCONJ
dem-15776	67	13	expected	expect	VERB
dem-15776	67	14	future	future	ADJ
dem-15776	67	15	cash	cash	NOUN
dem-15776	67	16	flows	flow	NOUN
dem-15776	67	17	,	,	PUNCT
dem-15776	67	18	which	which	PRON
dem-15776	67	19	in	in	ADP
dem-15776	67	20	turn	turn	NOUN
dem-15776	67	21	negatively	negatively	ADV
dem-15776	67	22	affects	affect	VERB
dem-15776	67	23	stock	stock	NOUN
dem-15776	67	24	prices	price	NOUN
dem-15776	67	25	.	.	PUNCT
dem-15776	68	1	therefore	therefore	ADV
dem-15776	68	2	,	,	PUNCT
dem-15776	68	3	we	we	PRON
dem-15776	68	4	expect	expect	VERB
dem-15776	68	5	a	a	DET
dem-15776	68	6	negative	negative	ADJ
dem-15776	68	7	relationship	relationship	NOUN
dem-15776	68	8	between	between	ADP
dem-15776	68	9	stock	stock	NOUN
dem-15776	68	10	prices	price	NOUN
dem-15776	68	11	(	(	PUNCT
dem-15776	68	12	sp	sp	NOUN
dem-15776	68	13	)	)	PUNCT
dem-15776	68	14	and	and	CCONJ
dem-15776	68	15	economic	economic	ADJ
dem-15776	68	16	output	output	NOUN
dem-15776	68	17	(	(	PUNCT
dem-15776	68	18	iip	iip	PROPN
dem-15776	68	19	)	)	PUNCT
dem-15776	68	20	.	.	PUNCT
dem-15776	69	1	the	the	DET
dem-15776	69	2	relationship	relationship	NOUN
dem-15776	69	3	between	between	ADP
dem-15776	69	4	the	the	DET
dem-15776	69	5	money	money	NOUN
dem-15776	69	6	supply	supply	NOUN
dem-15776	69	7	and	and	CCONJ
dem-15776	69	8	stock	stock	NOUN
dem-15776	69	9	prices	price	NOUN
dem-15776	69	10	is	be	AUX
dem-15776	69	11	not	not	PART
dem-15776	69	12	as	as	ADV
dem-15776	69	13	straightforward	straightforward	ADJ
dem-15776	69	14	.	.	PUNCT
dem-15776	70	1	on	on	ADP
dem-15776	70	2	one	one	NUM
dem-15776	70	3	hand	hand	NOUN
dem-15776	70	4	,	,	PUNCT
dem-15776	70	5	an	an	DET
dem-15776	70	6	increase	increase	NOUN
dem-15776	70	7	in	in	ADP
dem-15776	70	8	the	the	DET
dem-15776	70	9	money	money	NOUN
dem-15776	70	10	supply	supply	NOUN
dem-15776	70	11	,	,	PUNCT
dem-15776	70	12	ceteris	ceteris	NOUN
dem-15776	70	13	paribus	paribus	NOUN
dem-15776	70	14	,	,	PUNCT
dem-15776	70	15	creates	create	VERB
dem-15776	70	16	an	an	DET
dem-15776	70	17	excess	excess	ADJ
dem-15776	70	18	supply	supply	NOUN
dem-15776	70	19	of	of	ADP
dem-15776	70	20	money	money	NOUN
dem-15776	70	21	balances	balance	NOUN
dem-15776	70	22	and	and	CCONJ
dem-15776	70	23	an	an	DET
dem-15776	70	24	excess	excess	ADJ
dem-15776	70	25	demand	demand	NOUN
dem-15776	70	26	for	for	ADP
dem-15776	70	27	equity	equity	NOUN
dem-15776	70	28	,	,	PUNCT
dem-15776	70	29	resulting	result	VERB
dem-15776	70	30	to	to	ADP
dem-15776	70	31	an	an	DET
dem-15776	70	32	increase	increase	NOUN
dem-15776	70	33	in	in	ADP
dem-15776	70	34	equity	equity	NOUN
dem-15776	70	35	prices	price	NOUN
dem-15776	70	36	(	(	PUNCT
dem-15776	70	37	dhakal	dhakal	PROPN
dem-15776	70	38	,	,	PUNCT
dem-15776	70	39	kandil	kandil	NOUN
dem-15776	70	40	and	and	CCONJ
dem-15776	70	41	sharma	sharma	PROPN
dem-15776	70	42	,	,	PUNCT
dem-15776	70	43	1993	1993	NUM
dem-15776	70	44	;	;	PUNCT
dem-15776	70	45	wongbangpo	wongbangpo	NOUN
dem-15776	70	46	and	and	CCONJ
dem-15776	70	47	sharma	sharma	PROPN
dem-15776	70	48	,	,	PUNCT
dem-15776	70	49	2002	2002	NUM
dem-15776	70	50	)	)	PUNCT
dem-15776	70	51	.	.	PUNCT
dem-15776	71	1	on	on	ADP
dem-15776	71	2	the	the	DET
dem-15776	71	3	other	other	ADJ
dem-15776	71	4	hand	hand	NOUN
dem-15776	71	5	,	,	PUNCT
dem-15776	71	6	an	an	DET
dem-15776	71	7	increase	increase	NOUN
dem-15776	71	8	in	in	ADP
dem-15776	71	9	the	the	DET
dem-15776	71	10	money	money	NOUN
dem-15776	71	11	supply	supply	NOUN
dem-15776	71	12	may	may	AUX
dem-15776	71	13	lead	lead	VERB
dem-15776	71	14	to	to	ADP
dem-15776	71	15	inflation	inflation	NOUN
dem-15776	71	16	,	,	PUNCT
dem-15776	71	17	which	which	PRON
dem-15776	71	18	can	can	AUX
dem-15776	71	19	lower	lower	VERB
dem-15776	71	20	corporate	corporate	ADJ
dem-15776	71	21	profits	profit	NOUN
dem-15776	71	22	by	by	ADP
dem-15776	71	23	increasing	increase	VERB
dem-15776	71	24	costs	cost	NOUN
dem-15776	71	25	.	.	PUNCT
dem-15776	72	1	therefore	therefore	ADV
dem-15776	72	2	,	,	PUNCT
dem-15776	72	3	it	it	PRON
dem-15776	72	4	is	be	AUX
dem-15776	72	5	possible	possible	ADJ
dem-15776	72	6	that	that	SCONJ
dem-15776	72	7	an	an	DET
dem-15776	72	8	increase	increase	NOUN
dem-15776	72	9	in	in	ADP
dem-15776	72	10	the	the	DET
dem-15776	72	11	money	money	NOUN
dem-15776	72	12	supply	supply	NOUN
dem-15776	72	13	will	will	AUX
dem-15776	72	14	negatively	negatively	ADV
dem-15776	72	15	affect	affect	VERB
dem-15776	72	16	stock	stock	NOUN
dem-15776	72	17	prices	price	NOUN
dem-15776	72	18	.	.	PUNCT
dem-15776	73	1	as	as	ADP
dem-15776	73	2	such	such	ADJ
dem-15776	73	3	,	,	PUNCT
dem-15776	73	4	the	the	DET
dem-15776	73	5	relationship	relationship	NOUN
dem-15776	73	6	between	between	ADP
dem-15776	73	7	ms	ms	PROPN
dem-15776	73	8	and	and	CCONJ
dem-15776	73	9	sp	sp	NOUN
dem-15776	73	10	is	be	AUX
dem-15776	73	11	an	an	DET
dem-15776	73	12	empirical	empirical	ADJ
dem-15776	73	13	question	question	NOUN
dem-15776	73	14	.	.	PUNCT
dem-15776	74	1	the	the	DET
dem-15776	74	2	expected	expect	VERB
dem-15776	74	3	relationship	relationship	NOUN
dem-15776	74	4	between	between	ADP
dem-15776	74	5	sp	sp	ADP
dem-15776	74	6	and	and	CCONJ
dem-15776	74	7	wpi	wpi	PROPN
dem-15776	74	8	follows	follow	VERB
dem-15776	74	9	a	a	DET
dem-15776	74	10	similar	similar	ADJ
dem-15776	74	11	path	path	NOUN
dem-15776	74	12	.	.	PUNCT
dem-15776	75	1	in	in	ADP
dem-15776	75	2	general	general	ADJ
dem-15776	75	3	,	,	PUNCT
dem-15776	75	4	the	the	DET
dem-15776	75	5	price	price	NOUN
dem-15776	75	6	level	level	NOUN
dem-15776	75	7	is	be	AUX
dem-15776	75	8	expected	expect	VERB
dem-15776	75	9	to	to	PART
dem-15776	75	10	have	have	VERB
dem-15776	75	11	a	a	DET
dem-15776	75	12	negative	negative	ADJ
dem-15776	75	13	effect	effect	NOUN
dem-15776	75	14	on	on	ADP
dem-15776	75	15	stock	stock	NOUN
dem-15776	75	16	prices	price	NOUN
dem-15776	75	17	,	,	PUNCT
dem-15776	75	18	given	give	VERB
dem-15776	75	19	that	that	SCONJ
dem-15776	75	20	inflation	inflation	NOUN
dem-15776	75	21	raises	raise	VERB
dem-15776	75	22	the	the	DET
dem-15776	75	23	costs	cost	NOUN
dem-15776	75	24	of	of	ADP
dem-15776	75	25	production	production	NOUN
dem-15776	75	26	,	,	PUNCT
dem-15776	75	27	lowers	lower	VERB
dem-15776	75	28	profit	profit	NOUN
dem-15776	75	29	and	and	CCONJ
dem-15776	75	30	reduces	reduce	VERB
dem-15776	75	31	future	future	ADJ
dem-15776	75	32	cash	cash	NOUN
dem-15776	75	33	flows	flow	NOUN
dem-15776	75	34	of	of	ADP
dem-15776	75	35	a	a	DET
dem-15776	75	36	firm	firm	NOUN
dem-15776	75	37	(	(	PUNCT
dem-15776	75	38	fama	fama	PROPN
dem-15776	75	39	and	and	CCONJ
dem-15776	75	40	schwert	schwert	NOUN
dem-15776	75	41	,	,	PUNCT
dem-15776	75	42	1977	1977	NUM
dem-15776	75	43	;	;	PUNCT
dem-15776	75	44	fama	fama	PROPN
dem-15776	75	45	,	,	PUNCT
dem-15776	75	46	1981	1981	NUM
dem-15776	75	47	;	;	PUNCT
dem-15776	76	1	chen	chen	PROPN
dem-15776	76	2	et	et	PROPN
dem-15776	76	3	al	al	PROPN
dem-15776	76	4	.	.	PROPN
dem-15776	76	5	,	,	PUNCT
dem-15776	76	6	1986	1986	NUM
dem-15776	76	7	;	;	PUNCT
dem-15776	76	8	defina	defina	PROPN
dem-15776	76	9	,	,	PUNCT
dem-15776	76	10	1991	1991	NUM
dem-15776	76	11	)	)	PUNCT
dem-15776	76	12	.	.	PUNCT
dem-15776	77	1	wongbangpo	wongbangpo	NOUN
dem-15776	77	2	and	and	CCONJ
dem-15776	77	3	sharma	sharma	PROPN
dem-15776	77	4	(	(	PUNCT
dem-15776	77	5	2002	2002	NUM
dem-15776	77	6	)	)	PUNCT
dem-15776	77	7	argue	argue	PROPN
dem-15776	77	8	,	,	PUNCT
dem-15776	77	9	however	however	ADV
dem-15776	77	10	,	,	PUNCT
dem-15776	77	11	that	that	SCONJ
dem-15776	77	12	inflation	inflation	NOUN
dem-15776	77	13	can	can	AUX
dem-15776	77	14	have	have	VERB
dem-15776	77	15	a	a	DET
dem-15776	77	16	positive	positive	ADJ
dem-15776	77	17	effect	effect	NOUN
dem-15776	77	18	on	on	ADP
dem-15776	77	19	stock	stock	NOUN
dem-15776	77	20	prices	price	NOUN
dem-15776	77	21	given	give	VERB
dem-15776	77	22	because	because	SCONJ
dem-15776	77	23	equities	equity	NOUN
dem-15776	77	24	serve	serve	VERB
dem-15776	77	25	as	as	ADP
dem-15776	77	26	a	a	DET
dem-15776	77	27	hedge	hedge	NOUN
dem-15776	77	28	against	against	ADP
dem-15776	77	29	inflation	inflation	NOUN
dem-15776	77	30	given	give	VERB
dem-15776	77	31	that	that	SCONJ
dem-15776	77	32	they	they	PRON
dem-15776	77	33	represent	represent	VERB
dem-15776	77	34	claims	claim	NOUN
dem-15776	77	35	on	on	ADP
dem-15776	77	36	real	real	ADJ
dem-15776	77	37	assets	asset	NOUN
dem-15776	77	38	.	.	PUNCT
dem-15776	78	1	the	the	DET
dem-15776	78	2	relationship	relationship	NOUN
dem-15776	78	3	between	between	ADP
dem-15776	78	4	the	the	DET
dem-15776	78	5	interest	interest	NOUN
dem-15776	78	6	rate	rate	NOUN
dem-15776	78	7	and	and	CCONJ
dem-15776	78	8	the	the	DET
dem-15776	78	9	stock	stock	NOUN
dem-15776	78	10	prices	price	NOUN
dem-15776	78	11	is	be	AUX
dem-15776	78	12	expected	expect	VERB
dem-15776	78	13	to	to	PART
dem-15776	78	14	be	be	AUX
dem-15776	78	15	negative	negative	ADJ
dem-15776	78	16	.	.	PUNCT
dem-15776	79	1	there	there	PRON
dem-15776	79	2	are	be	VERB
dem-15776	79	3	primarily	primarily	ADV
dem-15776	79	4	two	two	NUM
dem-15776	79	5	reasons	reason	NOUN
dem-15776	79	6	for	for	ADP
dem-15776	79	7	this	this	DET
dem-15776	79	8	expectation	expectation	NOUN
dem-15776	79	9	.	.	PUNCT
dem-15776	80	1	first	first	ADV
dem-15776	80	2	,	,	PUNCT
dem-15776	80	3	an	an	DET
dem-15776	80	4	increase	increase	NOUN
dem-15776	80	5	in	in	ADP
dem-15776	80	6	the	the	DET
dem-15776	80	7	interest	interest	NOUN
dem-15776	80	8	rate	rate	NOUN
dem-15776	80	9	makes	make	VERB
dem-15776	80	10	interest	interest	NOUN
dem-15776	80	11	earning	earn	VERB
dem-15776	80	12	assets	asset	NOUN
dem-15776	80	13	more	more	ADV
dem-15776	80	14	attractive	attractive	ADJ
dem-15776	80	15	,	,	PUNCT
dem-15776	80	16	leading	lead	VERB
dem-15776	80	17	investors	investor	NOUN
dem-15776	80	18	to	to	PART
dem-15776	80	19	reallocate	reallocate	VERB
dem-15776	80	20	their	their	PRON
dem-15776	80	21	portfolios	portfolio	NOUN
dem-15776	80	22	by	by	ADP
dem-15776	80	23	substituting	substitute	VERB
dem-15776	80	24	equity	equity	NOUN
dem-15776	80	25	for	for	ADP
dem-15776	80	26	other	other	ADJ
dem-15776	80	27	assets	asset	NOUN
dem-15776	80	28	.	.	PUNCT
dem-15776	81	1	second	second	ADJ
dem-15776	81	2	,	,	PUNCT
dem-15776	81	3	an	an	DET
dem-15776	81	4	increase	increase	NOUN
dem-15776	81	5	in	in	ADP
dem-15776	81	6	the	the	DET
dem-15776	81	7	interest	interest	NOUN
dem-15776	81	8	rate	rate	NOUN
dem-15776	81	9	can	can	AUX
dem-15776	81	10	reduce	reduce	VERB
dem-15776	81	11	corporate	corporate	ADJ
dem-15776	81	12	profitability	profitability	NOUN
dem-15776	81	13	because	because	SCONJ
dem-15776	81	14	of	of	ADP
dem-15776	81	15	the	the	DET
dem-15776	81	16	concomitant	concomitant	ADJ
dem-15776	81	17	increase	increase	NOUN
dem-15776	81	18	in	in	ADP
dem-15776	81	19	financing	financing	NOUN
dem-15776	81	20	costs	cost	NOUN
dem-15776	81	21	.	.	PUNCT
dem-15776	82	1	in	in	ADP
dem-15776	82	2	either	either	DET
dem-15776	82	3	case	case	NOUN
dem-15776	82	4	,	,	PUNCT
dem-15776	82	5	stock	stock	NOUN
dem-15776	82	6	prices	price	NOUN
dem-15776	82	7	(	(	PUNCT
dem-15776	82	8	sp	sp	NOUN
dem-15776	82	9	)	)	PUNCT
dem-15776	82	10	are	be	AUX
dem-15776	82	11	negatively	negatively	ADV
dem-15776	82	12	related	relate	VERB
dem-15776	82	13	to	to	ADP
dem-15776	82	14	the	the	DET
dem-15776	82	15	interest	interest	NOUN
dem-15776	82	16	rate	rate	NOUN
dem-15776	82	17	(	(	PUNCT
dem-15776	82	18	r	r	NOUN
dem-15776	82	19	)	)	PUNCT
dem-15776	82	20	.	.	PUNCT
dem-15776	83	1	next	next	ADV
dem-15776	83	2	,	,	PUNCT
dem-15776	83	3	an	an	DET
dem-15776	83	4	increase	increase	NOUN
dem-15776	83	5	in	in	ADP
dem-15776	83	6	the	the	DET
dem-15776	83	7	exchange	exchange	NOUN
dem-15776	83	8	rate	rate	NOUN
dem-15776	83	9	(	(	PUNCT
dem-15776	83	10	i.e.	i.e.	X
dem-15776	83	11	,	,	PUNCT
dem-15776	83	12	currency	currency	NOUN
dem-15776	83	13	depreciation	depreciation	NOUN
dem-15776	83	14	)	)	PUNCT
dem-15776	83	15	makes	make	VERB
dem-15776	83	16	domestic	domestic	ADJ
dem-15776	83	17	goods	good	NOUN
dem-15776	83	18	(	(	PUNCT
dem-15776	83	19	imported	import	VERB
dem-15776	83	20	goods	good	NOUN
dem-15776	83	21	)	)	PUNCT
dem-15776	83	22	relatively	relatively	ADV
dem-15776	83	23	cheaper	cheap	ADJ
dem-15776	83	24	(	(	PUNCT
dem-15776	83	25	more	more	ADV
dem-15776	83	26	expensive	expensive	ADJ
dem-15776	83	27	)	)	PUNCT
dem-15776	83	28	and	and	CCONJ
dem-15776	83	29	,	,	PUNCT
dem-15776	83	30	thus	thus	ADV
dem-15776	83	31	,	,	PUNCT
dem-15776	83	32	more	more	ADJ
dem-15776	83	33	(	(	PUNCT
dem-15776	83	34	less	less	ADJ
dem-15776	83	35	)	)	PUNCT
dem-15776	83	36	competitive	competitive	ADJ
dem-15776	83	37	in	in	ADP
dem-15776	83	38	the	the	DET
dem-15776	83	39	world	world	NOUN
dem-15776	83	40	(	(	PUNCT
dem-15776	83	41	domestic	domestic	ADJ
dem-15776	83	42	)	)	PUNCT
dem-15776	83	43	market	market	NOUN
dem-15776	83	44	.	.	PUNCT
dem-15776	84	1	under	under	ADP
dem-15776	84	2	this	this	DET
dem-15776	84	3	circumstance	circumstance	NOUN
dem-15776	84	4	,	,	PUNCT
dem-15776	84	5	the	the	DET
dem-15776	84	6	volume	volume	NOUN
dem-15776	84	7	of	of	ADP
dem-15776	84	8	exports	export	NOUN
dem-15776	84	9	should	should	AUX
dem-15776	84	10	increase	increase	VERB
dem-15776	84	11	and	and	CCONJ
dem-15776	84	12	at	at	ADP
dem-15776	84	13	the	the	DET
dem-15776	84	14	same	same	ADJ
dem-15776	84	15	time	time	NOUN
dem-15776	84	16	importcompeting	importcompete	VERB
dem-15776	84	17	domestic	domestic	ADJ
dem-15776	84	18	goods	good	NOUN
dem-15776	84	19	production	production	NOUN
dem-15776	84	20	also	also	ADV
dem-15776	84	21	should	should	AUX
dem-15776	84	22	increase	increase	VERB
dem-15776	84	23	.	.	PUNCT
dem-15776	85	1	under	under	ADP
dem-15776	85	2	such	such	ADJ
dem-15776	85	3	4	4	NUM
dem-15776	85	4	ideally	ideally	ADV
dem-15776	85	5	gdp	gdp	NOUN
dem-15776	85	6	would	would	AUX
dem-15776	85	7	have	have	AUX
dem-15776	85	8	been	be	AUX
dem-15776	85	9	more	more	ADV
dem-15776	85	10	appropriate	appropriate	ADJ
dem-15776	85	11	than	than	ADP
dem-15776	85	12	the	the	DET
dem-15776	85	13	index	index	NOUN
dem-15776	85	14	of	of	ADP
dem-15776	85	15	industrial	industrial	ADJ
dem-15776	85	16	production	production	NOUN
dem-15776	85	17	(	(	PUNCT
dem-15776	85	18	iip	iip	PROPN
dem-15776	85	19	)	)	PUNCT
dem-15776	85	20	as	as	ADP
dem-15776	85	21	a	a	DET
dem-15776	85	22	measure	measure	NOUN
dem-15776	85	23	of	of	ADP
dem-15776	85	24	overall	overall	ADJ
dem-15776	85	25	economic	economic	ADJ
dem-15776	85	26	activity	activity	NOUN
dem-15776	85	27	in	in	ADP
dem-15776	85	28	india	india	PROPN
dem-15776	85	29	.	.	PUNCT
dem-15776	86	1	however	however	ADV
dem-15776	86	2	,	,	PUNCT
dem-15776	86	3	a	a	DET
dem-15776	86	4	lack	lack	NOUN
dem-15776	86	5	of	of	ADP
dem-15776	86	6	monthly	monthly	ADJ
dem-15776	86	7	data	datum	NOUN
dem-15776	86	8	for	for	ADP
dem-15776	86	9	gdp	gdp	NOUN
dem-15776	86	10	resulted	result	VERB
dem-15776	86	11	in	in	ADP
dem-15776	86	12	our	our	PRON
dem-15776	86	13	use	use	NOUN
dem-15776	86	14	of	of	ADP
dem-15776	86	15	industrial	industrial	ADJ
dem-15776	86	16	production	production	NOUN
dem-15776	86	17	data	datum	NOUN
dem-15776	86	18	as	as	ADP
dem-15776	86	19	a	a	DET
dem-15776	86	20	measure	measure	NOUN
dem-15776	86	21	of	of	ADP
dem-15776	86	22	economic	economic	ADJ
dem-15776	86	23	activity	activity	NOUN
dem-15776	86	24	.	.	PUNCT
dem-15776	87	1	kamal	kamal	PROPN
dem-15776	87	2	p.	p.	PROPN
dem-15776	87	3	upadhyaya	upadhyaya	PROPN
dem-15776	87	4	,	,	PUNCT
dem-15776	87	5	raja	raja	PROPN
dem-15776	87	6	nag	nag	PROPN
dem-15776	87	7	and	and	CCONJ
dem-15776	88	1	franklin	franklin	PROPN
dem-15776	88	2	g.	g.	PROPN
dem-15776	88	3	mixon	mixon	PROPN
dem-15776	88	4	,	,	PUNCT
dem-15776	88	5	jr	jr	PROPN
dem-15776	88	6	.	.	PROPN
dem-15776	88	7	dynamic	dynamic	ADJ
dem-15776	88	8	econometric	econometric	ADJ
dem-15776	88	9	models	model	NOUN
dem-15776	88	10	18	18	NUM
dem-15776	88	11	(	(	PUNCT
dem-15776	88	12	2018	2018	NUM
dem-15776	88	13	)	)	PUNCT
dem-15776	88	14	35–47	35–47	NUM
dem-15776	88	15	40	40	NUM
dem-15776	88	16	a	a	DET
dem-15776	88	17	scenario	scenario	NOUN
dem-15776	88	18	,	,	PUNCT
dem-15776	88	19	corporate	corporate	ADJ
dem-15776	88	20	profits	profit	NOUN
dem-15776	88	21	,	,	PUNCT
dem-15776	88	22	as	as	ADV
dem-15776	88	23	well	well	ADV
dem-15776	88	24	as	as	ADP
dem-15776	88	25	future	future	ADJ
dem-15776	88	26	cash	cash	NOUN
dem-15776	88	27	flows	flow	NOUN
dem-15776	88	28	,	,	PUNCT
dem-15776	88	29	should	should	AUX
dem-15776	88	30	rise	rise	VERB
dem-15776	88	31	.	.	PUNCT
dem-15776	89	1	the	the	DET
dem-15776	89	2	opposite	opposite	NOUN
dem-15776	89	3	is	be	AUX
dem-15776	89	4	true	true	ADJ
dem-15776	89	5	in	in	ADP
dem-15776	89	6	case	case	NOUN
dem-15776	89	7	of	of	ADP
dem-15776	89	8	a	a	DET
dem-15776	89	9	decrease	decrease	NOUN
dem-15776	89	10	in	in	ADP
dem-15776	89	11	the	the	DET
dem-15776	89	12	exchange	exchange	NOUN
dem-15776	89	13	rate	rate	NOUN
dem-15776	89	14	(	(	PUNCT
dem-15776	89	15	i.e.	i.e.	X
dem-15776	89	16	,	,	PUNCT
dem-15776	89	17	currency	currency	NOUN
dem-15776	89	18	appreciation	appreciation	NOUN
dem-15776	89	19	)	)	PUNCT
dem-15776	89	20	.	.	PUNCT
dem-15776	90	1	therefore	therefore	ADV
dem-15776	90	2	,	,	PUNCT
dem-15776	90	3	we	we	PRON
dem-15776	90	4	expect	expect	VERB
dem-15776	90	5	a	a	DET
dem-15776	90	6	positive	positive	ADJ
dem-15776	90	7	relationship	relationship	NOUN
dem-15776	90	8	between	between	ADP
dem-15776	90	9	the	the	DET
dem-15776	90	10	exchange	exchange	NOUN
dem-15776	90	11	rate	rate	NOUN
dem-15776	90	12	(	(	PUNCT
dem-15776	90	13	exch	exch	PROPN
dem-15776	90	14	)	)	PUNCT
dem-15776	90	15	and	and	CCONJ
dem-15776	90	16	stock	stock	NOUN
dem-15776	90	17	prices	price	NOUN
dem-15776	90	18	(	(	PUNCT
dem-15776	90	19	sp	sp	NOUN
dem-15776	90	20	)	)	PUNCT
dem-15776	90	21	.	.	PUNCT
dem-15776	91	1	monthly	monthly	ADJ
dem-15776	91	2	data	datum	NOUN
dem-15776	91	3	from	from	ADP
dem-15776	91	4	january	january	PROPN
dem-15776	91	5	2006	2006	NUM
dem-15776	91	6	to	to	ADP
dem-15776	91	7	march	march	PROPN
dem-15776	91	8	2016	2016	NUM
dem-15776	91	9	are	be	AUX
dem-15776	91	10	used	use	VERB
dem-15776	91	11	to	to	PART
dem-15776	91	12	test	test	VERB
dem-15776	91	13	the	the	DET
dem-15776	91	14	hypotheses	hypothesis	NOUN
dem-15776	91	15	developed	develop	VERB
dem-15776	91	16	above	above	ADV
dem-15776	91	17	.	.	PUNCT
dem-15776	92	1	for	for	ADP
dem-15776	92	2	sp	sp	ADP
dem-15776	92	3	(	(	PUNCT
dem-15776	92	4	stock	stock	NOUN
dem-15776	92	5	prices	price	NOUN
dem-15776	92	6	)	)	PUNCT
dem-15776	92	7	,	,	PUNCT
dem-15776	92	8	the	the	DET
dem-15776	92	9	bombay	bombay	PROPN
dem-15776	92	10	stock	stock	PROPN
dem-15776	92	11	exchange	exchange	PROPN
dem-15776	92	12	index	index	NOUN
dem-15776	92	13	(	(	PUNCT
dem-15776	92	14	sensex	sensex	NOUN
dem-15776	92	15	)	)	PUNCT
dem-15776	92	16	is	be	AUX
dem-15776	92	17	used	use	VERB
dem-15776	92	18	5	5	NUM
dem-15776	92	19	.	.	PUNCT
dem-15776	93	1	sensex	sensex	PROPN
dem-15776	93	2	is	be	AUX
dem-15776	93	3	a	a	DET
dem-15776	93	4	free	free	ADJ
dem-15776	93	5	-	-	PUNCT
dem-15776	93	6	float	float	NOUN
dem-15776	93	7	market	market	NOUN
dem-15776	93	8	-	-	PUNCT
dem-15776	93	9	weighted	weight	VERB
dem-15776	93	10	stock	stock	NOUN
dem-15776	93	11	market	market	NOUN
dem-15776	93	12	index	index	NOUN
dem-15776	93	13	of	of	ADP
dem-15776	93	14	established	establish	VERB
dem-15776	93	15	companies	company	NOUN
dem-15776	93	16	which	which	PRON
dem-15776	93	17	are	be	AUX
dem-15776	93	18	listed	list	VERB
dem-15776	93	19	in	in	ADP
dem-15776	93	20	the	the	DET
dem-15776	93	21	bombay	bombay	PROPN
dem-15776	93	22	stock	stock	PROPN
dem-15776	93	23	exchange	exchange	PROPN
dem-15776	93	24	(	(	PUNCT
dem-15776	93	25	bse	bse	PROPN
dem-15776	93	26	)	)	PUNCT
dem-15776	93	27	.	.	PUNCT
dem-15776	94	1	it	it	PRON
dem-15776	94	2	is	be	AUX
dem-15776	94	3	the	the	DET
dem-15776	94	4	s&p	s&p	PROPN
dem-15776	94	5	bse	bse	PROPN
dem-15776	94	6	sensitive	sensitive	ADJ
dem-15776	94	7	index	index	NOUN
dem-15776	94	8	,	,	PUNCT
dem-15776	94	9	which	which	PRON
dem-15776	94	10	is	be	AUX
dem-15776	94	11	widely	widely	ADV
dem-15776	94	12	considered	consider	VERB
dem-15776	94	13	as	as	ADP
dem-15776	94	14	the	the	DET
dem-15776	94	15	benchmark	benchmark	ADJ
dem-15776	94	16	index	index	NOUN
dem-15776	94	17	of	of	ADP
dem-15776	94	18	domestic	domestic	ADJ
dem-15776	94	19	stock	stock	NOUN
dem-15776	94	20	markets	market	NOUN
dem-15776	94	21	of	of	ADP
dem-15776	94	22	india	india	PROPN
dem-15776	94	23	.	.	PUNCT
dem-15776	95	1	the	the	DET
dem-15776	95	2	sensex	sensex	NOUN
dem-15776	95	3	has	have	VERB
dem-15776	95	4	a	a	DET
dem-15776	95	5	free	free	ADJ
dem-15776	95	6	-	-	PUNCT
dem-15776	95	7	float	float	NOUN
dem-15776	95	8	market	market	NOUN
dem-15776	95	9	capitalization	capitalization	NOUN
dem-15776	95	10	of	of	ADP
dem-15776	95	11	over	over	ADP
dem-15776	95	12	$	$	SYM
dem-15776	95	13	450	450	NUM
dem-15776	95	14	billion	billion	NUM
dem-15776	95	15	(	(	PUNCT
dem-15776	95	16	us	us	PROPN
dem-15776	95	17	)	)	PUNCT
dem-15776	95	18	.	.	PUNCT
dem-15776	96	1	data	datum	NOUN
dem-15776	96	2	on	on	ADP
dem-15776	96	3	ipp	ipp	PROPN
dem-15776	96	4	data	datum	NOUN
dem-15776	96	5	are	be	AUX
dem-15776	96	6	obtained	obtain	VERB
dem-15776	96	7	from	from	ADP
dem-15776	96	8	the	the	DET
dem-15776	96	9	ministry	ministry	PROPN
dem-15776	96	10	of	of	ADP
dem-15776	96	11	statistics	statistic	NOUN
dem-15776	96	12	and	and	CCONJ
dem-15776	96	13	program	program	NOUN
dem-15776	96	14	implementation	implementation	NOUN
dem-15776	96	15	of	of	ADP
dem-15776	96	16	the	the	DET
dem-15776	96	17	government	government	NOUN
dem-15776	96	18	of	of	ADP
dem-15776	96	19	india	india	PROPN
dem-15776	96	20	.	.	PUNCT
dem-15776	96	21	,	,	PUNCT
dem-15776	96	22	while	while	SCONJ
dem-15776	96	23	data	datum	NOUN
dem-15776	96	24	for	for	ADP
dem-15776	96	25	the	the	DET
dem-15776	96	26	money	money	NOUN
dem-15776	96	27	supply	supply	NOUN
dem-15776	96	28	(	(	PUNCT
dem-15776	96	29	ms	ms	NOUN
dem-15776	96	30	)	)	PUNCT
dem-15776	96	31	,	,	PUNCT
dem-15776	96	32	the	the	DET
dem-15776	96	33	price	price	NOUN
dem-15776	96	34	index	index	NOUN
dem-15776	96	35	(	(	PUNCT
dem-15776	96	36	wpi	wpi	NOUN
dem-15776	96	37	)	)	PUNCT
dem-15776	96	38	,	,	PUNCT
dem-15776	96	39	the	the	DET
dem-15776	96	40	interest	interest	NOUN
dem-15776	96	41	rate	rate	NOUN
dem-15776	96	42	(	(	PUNCT
dem-15776	96	43	r	r	NOUN
dem-15776	96	44	)	)	PUNCT
dem-15776	96	45	and	and	CCONJ
dem-15776	96	46	the	the	DET
dem-15776	96	47	exchange	exchange	NOUN
dem-15776	96	48	rate	rate	NOUN
dem-15776	96	49	(	(	PUNCT
dem-15776	96	50	exch	exch	PROPN
dem-15776	96	51	)	)	PUNCT
dem-15776	96	52	are	be	AUX
dem-15776	96	53	obtained	obtain	VERB
dem-15776	96	54	from	from	ADP
dem-15776	96	55	various	various	ADJ
dem-15776	96	56	issues	issue	NOUN
dem-15776	96	57	of	of	ADP
dem-15776	96	58	international	international	ADJ
dem-15776	96	59	financial	financial	ADJ
dem-15776	96	60	statistics	statistic	NOUN
dem-15776	96	61	,	,	PUNCT
dem-15776	96	62	which	which	PRON
dem-15776	96	63	is	be	AUX
dem-15776	96	64	published	publish	VERB
dem-15776	96	65	by	by	ADP
dem-15776	96	66	the	the	DET
dem-15776	96	67	international	international	ADJ
dem-15776	96	68	monetary	monetary	ADJ
dem-15776	96	69	fund	fund	NOUN
dem-15776	96	70	.	.	PUNCT
dem-15776	97	1	all	all	PRON
dem-15776	97	2	of	of	ADP
dem-15776	97	3	the	the	DET
dem-15776	97	4	data	datum	NOUN
dem-15776	97	5	series	series	NOUN
dem-15776	97	6	,	,	PUNCT
dem-15776	97	7	with	with	ADP
dem-15776	97	8	the	the	DET
dem-15776	97	9	exception	exception	NOUN
dem-15776	97	10	of	of	ADP
dem-15776	97	11	the	the	DET
dem-15776	97	12	interest	interest	NOUN
dem-15776	97	13	rate	rate	NOUN
dem-15776	97	14	,	,	PUNCT
dem-15776	97	15	are	be	AUX
dem-15776	97	16	transformed	transform	VERB
dem-15776	97	17	into	into	ADP
dem-15776	97	18	natural	natural	ADJ
dem-15776	97	19	logs	log	NOUN
dem-15776	97	20	before	before	ADP
dem-15776	97	21	the	the	DET
dem-15776	97	22	empirical	empirical	ADJ
dem-15776	97	23	estimation	estimation	NOUN
dem-15776	97	24	.	.	PUNCT
dem-15776	98	1	3	3	X
dem-15776	98	2	.	.	X
dem-15776	98	3	estimation	estimation	NOUN
dem-15776	98	4	and	and	CCONJ
dem-15776	98	5	empirical	empirical	ADJ
dem-15776	98	6	findings	finding	NOUN
dem-15776	98	7	macroeconomic	macroeconomic	ADJ
dem-15776	98	8	time	time	NOUN
dem-15776	98	9	series	series	PROPN
dem-15776	98	10	data	datum	NOUN
dem-15776	98	11	are	be	AUX
dem-15776	98	12	typically	typically	ADV
dem-15776	98	13	not	not	PART
dem-15776	98	14	stationary	stationary	ADJ
dem-15776	98	15	.	.	PUNCT
dem-15776	99	1	the	the	DET
dem-15776	99	2	use	use	NOUN
dem-15776	99	3	of	of	ADP
dem-15776	99	4	non	non	ADJ
dem-15776	99	5	-	-	ADJ
dem-15776	99	6	stationary	stationary	ADJ
dem-15776	99	7	data	datum	NOUN
dem-15776	99	8	series	series	NOUN
dem-15776	99	9	produces	produce	VERB
dem-15776	99	10	spurious	spurious	ADJ
dem-15776	99	11	results	result	NOUN
dem-15776	99	12	.	.	PUNCT
dem-15776	100	1	therefore	therefore	ADV
dem-15776	100	2	,	,	PUNCT
dem-15776	100	3	it	it	PRON
dem-15776	100	4	is	be	AUX
dem-15776	100	5	important	important	ADJ
dem-15776	100	6	to	to	PART
dem-15776	100	7	test	test	VERB
dem-15776	100	8	the	the	DET
dem-15776	100	9	stationarity	stationarity	NOUN
dem-15776	100	10	of	of	ADP
dem-15776	100	11	the	the	DET
dem-15776	100	12	each	each	DET
dem-15776	100	13	data	data	NOUN
dem-15776	100	14	series	series	NOUN
dem-15776	100	15	before	before	ADP
dem-15776	100	16	estimating	estimate	VERB
dem-15776	100	17	the	the	DET
dem-15776	100	18	model	model	NOUN
dem-15776	100	19	.	.	PUNCT
dem-15776	101	1	to	to	PART
dem-15776	101	2	ensure	ensure	VERB
dem-15776	101	3	the	the	DET
dem-15776	101	4	stationarity	stationarity	NOUN
dem-15776	101	5	of	of	ADP
dem-15776	101	6	the	the	DET
dem-15776	101	7	data	data	NOUN
dem-15776	101	8	series	series	NOUN
dem-15776	101	9	employed	employ	VERB
dem-15776	101	10	in	in	ADP
dem-15776	101	11	this	this	DET
dem-15776	101	12	study	study	NOUN
dem-15776	101	13	,	,	PUNCT
dem-15776	101	14	both	both	DET
dem-15776	101	15	an	an	DET
dem-15776	101	16	augmented	augment	VERB
dem-15776	101	17	dickey	dickey	NOUN
dem-15776	101	18	-	-	PUNCT
dem-15776	101	19	fuller	full	ADJ
dem-15776	101	20	test	test	NOUN
dem-15776	101	21	(	(	PUNCT
dem-15776	101	22	said	say	VERB
dem-15776	101	23	and	and	CCONJ
dem-15776	101	24	dickey	dickey	PROPN
dem-15776	101	25	,	,	PUNCT
dem-15776	101	26	1984	1984	NUM
dem-15776	101	27	)	)	PUNCT
dem-15776	101	28	and	and	CCONJ
dem-15776	101	29	phillipsperron	phillipsperron	PROPN
dem-15776	101	30	test	test	NOUN
dem-15776	101	31	(	(	PUNCT
dem-15776	101	32	phillips	phillip	NOUN
dem-15776	101	33	and	and	CCONJ
dem-15776	101	34	perron	perron	PROPN
dem-15776	101	35	,	,	PUNCT
dem-15776	101	36	1988	1988	NUM
dem-15776	101	37	;	;	PUNCT
dem-15776	101	38	perron	perron	PROPN
dem-15776	101	39	,	,	PUNCT
dem-15776	101	40	1988	1988	NUM
dem-15776	101	41	)	)	PUNCT
dem-15776	101	42	are	be	AUX
dem-15776	101	43	conducted	conduct	VERB
dem-15776	101	44	.	.	PUNCT
dem-15776	102	1	results	result	NOUN
dem-15776	102	2	from	from	ADP
dem-15776	102	3	these	these	DET
dem-15776	102	4	tests	test	NOUN
dem-15776	102	5	are	be	AUX
dem-15776	102	6	reported	report	VERB
dem-15776	102	7	in	in	ADP
dem-15776	102	8	table	table	NOUN
dem-15776	102	9	1	1	NUM
dem-15776	102	10	.	.	PUNCT
dem-15776	103	1	as	as	SCONJ
dem-15776	103	2	indicated	indicate	VERB
dem-15776	103	3	there	there	ADV
dem-15776	103	4	,	,	PUNCT
dem-15776	103	5	both	both	CCONJ
dem-15776	103	6	the	the	DET
dem-15776	103	7	augmented	augment	VERB
dem-15776	103	8	dickey	dickey	PROPN
dem-15776	103	9	-	-	PUNCT
dem-15776	103	10	fuller	full	ADJ
dem-15776	103	11	test	test	NOUN
dem-15776	103	12	and	and	CCONJ
dem-15776	103	13	the	the	DET
dem-15776	103	14	phillips	phillips	PROPN
dem-15776	103	15	-	-	PUNCT
dem-15776	103	16	perron	perron	PROPN
dem-15776	103	17	test	test	NOUN
dem-15776	103	18	statistics	statistic	NOUN
dem-15776	103	19	do	do	AUX
dem-15776	103	20	not	not	PART
dem-15776	103	21	reject	reject	VERB
dem-15776	103	22	the	the	DET
dem-15776	103	23	null	null	ADJ
dem-15776	103	24	hypothesis	hypothesis	NOUN
dem-15776	103	25	of	of	ADP
dem-15776	103	26	“	"	PUNCT
dem-15776	103	27	the	the	DET
dem-15776	103	28	existence	existence	NOUN
dem-15776	103	29	of	of	ADP
dem-15776	103	30	a	a	DET
dem-15776	103	31	unit	unit	NOUN
dem-15776	103	32	root	root	NOUN
dem-15776	103	33	”	"	PUNCT
dem-15776	103	34	in	in	ADP
dem-15776	103	35	level	level	NOUN
dem-15776	103	36	form	form	NOUN
dem-15776	103	37	,	,	PUNCT
dem-15776	103	38	while	while	SCONJ
dem-15776	103	39	they	they	PRON
dem-15776	103	40	do	do	AUX
dem-15776	103	41	reject	reject	VERB
dem-15776	103	42	this	this	DET
dem-15776	103	43	null	null	NOUN
dem-15776	103	44	in	in	ADP
dem-15776	103	45	the	the	DET
dem-15776	103	46	case	case	NOUN
dem-15776	103	47	of	of	ADP
dem-15776	103	48	first	first	ADJ
dem-15776	103	49	differences	difference	NOUN
dem-15776	103	50	for	for	ADP
dem-15776	103	51	each	each	PRON
dem-15776	103	52	of	of	ADP
dem-15776	103	53	the	the	DET
dem-15776	103	54	series	series	NOUN
dem-15776	103	55	.	.	PUNCT
dem-15776	104	1	these	these	DET
dem-15776	104	2	results	result	NOUN
dem-15776	104	3	suggest	suggest	VERB
dem-15776	104	4	that	that	SCONJ
dem-15776	104	5	all	all	PRON
dem-15776	104	6	of	of	ADP
dem-15776	104	7	the	the	DET
dem-15776	104	8	data	data	NOUN
dem-15776	104	9	series	series	NOUN
dem-15776	104	10	are	be	AUX
dem-15776	104	11	integrated	integrate	VERB
dem-15776	104	12	of	of	ADP
dem-15776	104	13	order	order	NOUN
dem-15776	104	14	one	one	NUM
dem-15776	104	15	,	,	PUNCT
dem-15776	104	16	or	or	CCONJ
dem-15776	104	17	are	be	AUX
dem-15776	104	18	i(1	i(1	NOUN
dem-15776	104	19	)	)	PUNCT
dem-15776	104	20	.	.	PUNCT
dem-15776	105	1	after	after	ADP
dem-15776	105	2	establishing	establish	VERB
dem-15776	105	3	the	the	DET
dem-15776	105	4	stationarity	stationarity	NOUN
dem-15776	105	5	of	of	ADP
dem-15776	105	6	the	the	DET
dem-15776	105	7	data	datum	NOUN
dem-15776	105	8	series	series	PROPN
dem-15776	105	9	,	,	PUNCT
dem-15776	105	10	johansen	johansen	PROPN
dem-15776	105	11	’s	’s	PART
dem-15776	105	12	cointegration	cointegration	PROPN
dem-15776	105	13	test	test	NOUN
dem-15776	105	14	(	(	PUNCT
dem-15776	105	15	johansen	johansen	PROPN
dem-15776	105	16	,	,	PUNCT
dem-15776	105	17	1988	1988	NUM
dem-15776	105	18	and	and	CCONJ
dem-15776	105	19	1991	1991	NUM
dem-15776	105	20	;	;	PUNCT
dem-15776	105	21	johansen	johansen	PROPN
dem-15776	105	22	and	and	CCONJ
dem-15776	105	23	juselius	juselius	NOUN
dem-15776	105	24	,	,	PUNCT
dem-15776	105	25	1990	1990	NUM
dem-15776	105	26	)	)	PUNCT
dem-15776	105	27	is	be	AUX
dem-15776	105	28	conducted	conduct	VERB
dem-15776	105	29	in	in	ADP
dem-15776	105	30	order	order	NOUN
dem-15776	105	31	to	to	PART
dem-15776	105	32	test	test	VERB
dem-15776	105	33	for	for	ADP
dem-15776	105	34	long	long	ADV
dem-15776	105	35	-	-	PUNCT
dem-15776	105	36	run	run	NOUN
dem-15776	105	37	relationships	relationship	NOUN
dem-15776	105	38	among	among	ADP
dem-15776	105	39	the	the	DET
dem-15776	105	40	variables	variable	NOUN
dem-15776	105	41	.	.	PUNCT
dem-15776	106	1	the	the	DET
dem-15776	106	2	aic	aic	PROPN
dem-15776	106	3	criterion	criterion	NOUN
dem-15776	106	4	is	be	AUX
dem-15776	106	5	used	use	VERB
dem-15776	106	6	to	to	PART
dem-15776	106	7	identify	identify	VERB
dem-15776	106	8	the	the	DET
dem-15776	106	9	optimal	optimal	ADJ
dem-15776	106	10	lag	lag	NOUN
dem-15776	106	11	length	length	NOUN
dem-15776	106	12	.	.	PUNCT
dem-15776	107	1	the	the	DET
dem-15776	107	2	johansen	johansen	PROPN
dem-15776	107	3	’s	’s	PART
dem-15776	107	4	5	5	NUM
dem-15776	107	5	the	the	DET
dem-15776	107	6	data	datum	NOUN
dem-15776	107	7	for	for	ADP
dem-15776	107	8	this	this	DET
dem-15776	107	9	variable	variable	NOUN
dem-15776	107	10	is	be	AUX
dem-15776	107	11	collected	collect	VERB
dem-15776	107	12	from	from	ADP
dem-15776	107	13	cnbc	cnbc	PROPN
dem-15776	107	14	money	money	NOUN
dem-15776	107	15	control	control	NOUN
dem-15776	107	16	:	:	PUNCT
dem-15776	107	17	(	(	PUNCT
dem-15776	107	18	http://www.moneycontrol.com/stocks/hist_index_result.php?indian_indices=4	http://www.moneycontrol.com/stocks/hist_index_result.php?indian_indices=4	NOUN
dem-15776	107	19	)	)	PUNCT
dem-15776	107	20	.	.	PUNCT
dem-15776	108	1	stock	stock	NOUN
dem-15776	108	2	market	market	NOUN
dem-15776	108	3	prices	price	NOUN
dem-15776	108	4	and	and	CCONJ
dem-15776	108	5	the	the	DET
dem-15776	108	6	macroeconomics	macroeconomic	NOUN
dem-15776	108	7	of	of	ADP
dem-15776	108	8	emerging	emerge	VERB
dem-15776	108	9	economies	economy	NOUN
dem-15776	108	10	dynamic	dynamic	ADJ
dem-15776	108	11	econometric	econometric	ADJ
dem-15776	108	12	models	model	NOUN
dem-15776	108	13	18	18	NUM
dem-15776	108	14	(	(	PUNCT
dem-15776	108	15	2018	2018	NUM
dem-15776	108	16	)	)	PUNCT
dem-15776	108	17	35–47	35–47	NUM
dem-15776	108	18	41	41	NUM
dem-15776	108	19	cointegration	cointegration	NOUN
dem-15776	108	20	test	test	NOUN
dem-15776	108	21	results	result	NOUN
dem-15776	108	22	are	be	AUX
dem-15776	108	23	reported	report	VERB
dem-15776	108	24	in	in	ADP
dem-15776	108	25	table	table	NOUN
dem-15776	108	26	2	2	NUM
dem-15776	108	27	,	,	PUNCT
dem-15776	108	28	and	and	CCONJ
dem-15776	108	29	indicate	indicate	VERB
dem-15776	108	30	that	that	SCONJ
dem-15776	108	31	one	one	PRON
dem-15776	108	32	may	may	AUX
dem-15776	108	33	reject	reject	VERB
dem-15776	108	34	the	the	DET
dem-15776	108	35	null	null	ADJ
dem-15776	108	36	hypothesis	hypothesis	NOUN
dem-15776	108	37	of	of	ADP
dem-15776	108	38	“	"	PUNCT
dem-15776	108	39	no	no	DET
dem-15776	108	40	cointegration	cointegration	NOUN
dem-15776	108	41	”	"	PUNCT
dem-15776	108	42	.	.	PUNCT
dem-15776	109	1	the	the	DET
dem-15776	109	2	long	long	ADV
dem-15776	109	3	-	-	PUNCT
dem-15776	109	4	run	run	NOUN
dem-15776	109	5	relationship	relationship	NOUN
dem-15776	109	6	between	between	ADP
dem-15776	109	7	stock	stock	NOUN
dem-15776	109	8	price	price	NOUN
dem-15776	109	9	indices	index	NOUN
dem-15776	109	10	(	(	PUNCT
dem-15776	109	11	sp	sp	NOUN
dem-15776	109	12	)	)	PUNCT
dem-15776	109	13	and	and	CCONJ
dem-15776	109	14	the	the	DET
dem-15776	109	15	macroeconomic	macroeconomic	ADJ
dem-15776	109	16	variables	variable	NOUN
dem-15776	109	17	are	be	AUX
dem-15776	109	18	derived	derive	VERB
dem-15776	109	19	after	after	ADP
dem-15776	109	20	normalizing	normalize	VERB
dem-15776	109	21	the	the	DET
dem-15776	109	22	coefficient	coefficient	NOUN
dem-15776	109	23	of	of	ADP
dem-15776	109	24	sp	sp	ADP
dem-15776	109	25	to	to	ADP
dem-15776	109	26	one	one	NUM
dem-15776	109	27	,	,	PUNCT
dem-15776	109	28	which	which	PRON
dem-15776	109	29	occurs	occur	VERB
dem-15776	109	30	as	as	SCONJ
dem-15776	109	31	follows	follow	VERB
dem-15776	109	32	6	6	NUM
dem-15776	109	33	:	:	PUNCT
dem-15776	109	34	sp	sp	ADP
dem-15776	109	35	=	=	SYM
dem-15776	109	36	30.61iip	30.61iip	NUM
dem-15776	109	37	*	*	PUNCT
dem-15776	109	38	*	*	PUNCT
dem-15776	109	39	*	*	PUNCT
dem-15776	109	40	−10.07ms	−10.07ms	NUM
dem-15776	109	41	*	*	PUNCT
dem-15776	109	42	*	*	PUNCT
dem-15776	109	43	*	*	PUNCT
dem-15776	109	44	−	−	PROPN
dem-15776	109	45	9.40wpi	9.40wpi	NUM
dem-15776	110	1	+	+	PUNCT
dem-15776	110	2	0.53r	0.53r	NUM
dem-15776	110	3	+	+	CCONJ
dem-15776	110	4	12.77exch	12.77exch	NUM
dem-15776	110	5	*	*	PUNCT
dem-15776	110	6	*	*	PUNCT
dem-15776	110	7	*	*	PUNCT
dem-15776	110	8	(	(	PUNCT
dem-15776	110	9	2	2	NUM
dem-15776	110	10	)	)	PUNCT
dem-15776	110	11	(	(	PUNCT
dem-15776	110	12	4.51	4.51	NUM
dem-15776	110	13	)	)	PUNCT
dem-15776	110	14	(	(	PUNCT
dem-15776	110	15	−3.13	−3.13	NOUN
dem-15776	110	16	)	)	PUNCT
dem-15776	110	17	(	(	PUNCT
dem-15776	110	18	−1.54	−1.54	NOUN
dem-15776	110	19	)	)	PUNCT
dem-15776	110	20	(	(	PUNCT
dem-15776	110	21	1.32	1.32	NUM
dem-15776	110	22	)	)	PUNCT
dem-15776	110	23	(	(	PUNCT
dem-15776	110	24	3.43	3.43	NUM
dem-15776	110	25	)	)	PUNCT
dem-15776	110	26	table	table	NOUN
dem-15776	110	27	1	1	NUM
dem-15776	110	28	.	.	PUNCT
dem-15776	110	29	unit	unit	NOUN
dem-15776	110	30	root	root	PROPN
dem-15776	110	31	test	test	NOUN
dem-15776	110	32	results	result	NOUN
dem-15776	110	33	augmented	augment	VERB
dem-15776	110	34	dickey	dickey	PROPN
dem-15776	110	35	-	-	PUNCT
dem-15776	110	36	fuller	full	ADJ
dem-15776	110	37	phillips	phillip	NOUN
dem-15776	110	38	-	-	PUNCT
dem-15776	110	39	perron	perron	PROPN
dem-15776	110	40	variable	variable	ADJ
dem-15776	110	41	level	level	NOUN
dem-15776	110	42	fd	fd	NOUN
dem-15776	110	43	level	level	NOUN
dem-15776	110	44	fd	fd	PROPN
dem-15776	110	45	logsp	logsp	VERB
dem-15776	110	46	−2.66	−2.66	ADP
dem-15776	110	47	−10.07	−10.07	NOUN
dem-15776	110	48	*	*	PROPN
dem-15776	110	49	*	*	PROPN
dem-15776	110	50	*	*	PROPN
dem-15776	110	51	−2.92	−2.92	NOUN
dem-15776	110	52	−10.06	−10.06	NOUN
dem-15776	110	53	*	*	NOUN
dem-15776	110	54	*	*	PUNCT
dem-15776	110	55	*	*	PUNCT
dem-15776	110	56	logiip	logiip	NOUN
dem-15776	111	1	−2.54	−2.54	PROPN
dem-15776	111	2	−3.86	−3.86	PROPN
dem-15776	111	3	*	*	PUNCT
dem-15776	111	4	*	*	NOUN
dem-15776	111	5	−2.47	−2.47	PRON
dem-15776	111	6	−21.55	−21.55	NOUN
dem-15776	111	7	*	*	NOUN
dem-15776	111	8	*	*	PUNCT
dem-15776	111	9	*	*	NOUN
dem-15776	111	10	logms	logm	NOUN
dem-15776	111	11	−2.05	−2.05	ADP
dem-15776	111	12	−6.75	−6.75	NOUN
dem-15776	111	13	*	*	NOUN
dem-15776	111	14	*	*	PUNCT
dem-15776	111	15	*	*	PUNCT
dem-15776	111	16	−2.99	−2.99	PUNCT
dem-15776	112	1	−13.89	−13.89	NOUN
dem-15776	112	2	*	*	PUNCT
dem-15776	112	3	*	*	PUNCT
dem-15776	112	4	*	*	PUNCT
dem-15776	112	5	logwpi	logwpi	VERB
dem-15776	112	6	−2.47	−2.47	NOUN
dem-15776	112	7	−6.44	−6.44	NOUN
dem-15776	112	8	*	*	NOUN
dem-15776	112	9	*	*	PUNCT
dem-15776	112	10	*	*	PUNCT
dem-15776	112	11	−1.76	−1.76	PUNCT
dem-15776	113	1	−6.39	−6.39	X
dem-15776	113	2	*	*	PUNCT
dem-15776	113	3	*	*	PUNCT
dem-15776	113	4	*	*	PUNCT
dem-15776	113	5	r	r	NOUN
dem-15776	113	6	–	–	PUNCT
dem-15776	113	7	2.99	2.99	NUM
dem-15776	113	8	–	–	PUNCT
dem-15776	113	9	6.31	6.31	NUM
dem-15776	113	10	*	*	PUNCT
dem-15776	113	11	*	*	PUNCT
dem-15776	113	12	*	*	PUNCT
dem-15776	113	13	–	–	PUNCT
dem-15776	113	14	3.32	3.32	NUM
dem-15776	113	15	*	*	NOUN
dem-15776	113	16	*	*	PUNCT
dem-15776	113	17	–	–	PUNCT
dem-15776	113	18	11.92	11.92	NUM
dem-15776	113	19	*	*	PUNCT
dem-15776	113	20	*	*	PUNCT
dem-15776	113	21	*	*	PUNCT
dem-15776	113	22	logexch	logexch	NOUN
dem-15776	114	1	−2.59	−2.59	INTJ
dem-15776	115	1	−7.92	−7.92	ADJ
dem-15776	115	2	*	*	PUNCT
dem-15776	115	3	*	*	PUNCT
dem-15776	115	4	*	*	X
dem-15776	115	5	−2.20	−2.20	X
dem-15776	115	6	−7.84	−7.84	X
dem-15776	115	7	*	*	PUNCT
dem-15776	115	8	*	*	PUNCT
dem-15776	115	9	*	*	NOUN
dem-15776	115	10	notes	note	VERB
dem-15776	115	11	:	:	PUNCT
dem-15776	115	12	fd	fd	PROPN
dem-15776	115	13	=	=	PUNCT
dem-15776	115	14	first	first	ADJ
dem-15776	115	15	-	-	PUNCT
dem-15776	115	16	difference	difference	NOUN
dem-15776	115	17	.	.	PUNCT
dem-15776	116	1	*	*	PUNCT
dem-15776	116	2	*	*	PUNCT
dem-15776	116	3	*	*	PUNCT
dem-15776	116	4	(	(	PUNCT
dem-15776	116	5	*	*	PUNCT
dem-15776	116	6	*	*	NOUN
dem-15776	116	7	)	)	PUNCT
dem-15776	116	8	denotes	denote	NOUN
dem-15776	116	9	significance	significance	NOUN
dem-15776	116	10	at	at	ADP
dem-15776	116	11	the	the	DET
dem-15776	116	12	1	1	NUM
dem-15776	116	13	%	%	NOUN
dem-15776	116	14	(	(	PUNCT
dem-15776	116	15	5	5	NUM
dem-15776	116	16	%	%	NOUN
dem-15776	116	17	)	)	PUNCT
dem-15776	116	18	critical	critical	ADJ
dem-15776	116	19	level	level	NOUN
dem-15776	116	20	.	.	PUNCT
dem-15776	117	1	as	as	SCONJ
dem-15776	117	2	indicated	indicate	VERB
dem-15776	117	3	in	in	ADP
dem-15776	117	4	(	(	PUNCT
dem-15776	117	5	2	2	NUM
dem-15776	117	6	)	)	PUNCT
dem-15776	117	7	above	above	ADV
dem-15776	117	8	,	,	PUNCT
dem-15776	117	9	the	the	DET
dem-15776	117	10	coefficient	coefficient	NOUN
dem-15776	117	11	of	of	ADP
dem-15776	117	12	iip	iip	PROPN
dem-15776	117	13	,	,	PUNCT
dem-15776	117	14	which	which	PRON
dem-15776	117	15	is	be	AUX
dem-15776	117	16	a	a	DET
dem-15776	117	17	proxy	proxy	NOUN
dem-15776	117	18	for	for	ADP
dem-15776	117	19	overall	overall	ADJ
dem-15776	117	20	economic	economic	ADJ
dem-15776	117	21	activity	activity	NOUN
dem-15776	117	22	,	,	PUNCT
dem-15776	117	23	is	be	AUX
dem-15776	117	24	both	both	PRON
dem-15776	117	25	positive	positive	ADJ
dem-15776	117	26	and	and	CCONJ
dem-15776	117	27	statistically	statistically	ADV
dem-15776	117	28	significant	significant	ADJ
dem-15776	117	29	.	.	PUNCT
dem-15776	118	1	this	this	DET
dem-15776	118	2	finding	finding	NOUN
dem-15776	118	3	is	be	AUX
dem-15776	118	4	consistent	consistent	ADJ
dem-15776	118	5	with	with	ADP
dem-15776	118	6	the	the	DET
dem-15776	118	7	notion	notion	NOUN
dem-15776	118	8	that	that	SCONJ
dem-15776	118	9	an	an	DET
dem-15776	118	10	increase	increase	NOUN
dem-15776	118	11	(	(	PUNCT
dem-15776	118	12	decrease	decrease	NOUN
dem-15776	118	13	)	)	PUNCT
dem-15776	118	14	in	in	ADP
dem-15776	118	15	economic	economic	ADJ
dem-15776	118	16	activity	activity	NOUN
dem-15776	118	17	increases	increase	NOUN
dem-15776	118	18	(	(	PUNCT
dem-15776	118	19	decreases	decrease	NOUN
dem-15776	118	20	)	)	PUNCT
dem-15776	118	21	corporate	corporate	ADJ
dem-15776	118	22	profits	profit	NOUN
dem-15776	118	23	and	and	CCONJ
dem-15776	118	24	expected	expect	VERB
dem-15776	118	25	future	future	ADJ
dem-15776	118	26	cash	cash	NOUN
dem-15776	118	27	flows	flow	NOUN
dem-15776	118	28	,	,	PUNCT
dem-15776	118	29	which	which	PRON
dem-15776	118	30	in	in	ADP
dem-15776	118	31	turn	turn	NOUN
dem-15776	118	32	increases	increase	NOUN
dem-15776	118	33	(	(	PUNCT
dem-15776	118	34	decreases	decrease	NOUN
dem-15776	118	35	)	)	PUNCT
dem-15776	118	36	stock	stock	NOUN
dem-15776	118	37	prices	price	NOUN
dem-15776	118	38	.	.	PUNCT
dem-15776	119	1	table	table	NOUN
dem-15776	119	2	2	2	NUM
dem-15776	119	3	.	.	PUNCT
dem-15776	119	4	johansen	johansen	PROPN
dem-15776	119	5	’s	’s	PART
dem-15776	119	6	cointegration	cointegration	PROPN
dem-15776	119	7	test	test	NOUN
dem-15776	119	8	results	result	NOUN
dem-15776	119	9	h0	h0	PROPN
dem-15776	119	10	eigen	eigen	PROPN
dem-15776	119	11	value	value	NOUN
dem-15776	119	12	trace	trace	NOUN
dem-15776	119	13	statistic	statistic	NOUN
dem-15776	119	14	5	5	NUM
dem-15776	119	15	%	%	NOUN
dem-15776	119	16	critical	critical	ADJ
dem-15776	119	17	value	value	NOUN
dem-15776	119	18	r	r	NOUN
dem-15776	119	19	=	=	SYM
dem-15776	119	20	0	0	NUM
dem-15776	119	21	0.314	0.314	NUM
dem-15776	119	22	123.50	123.50	NUM
dem-15776	119	23	*	*	PUNCT
dem-15776	119	24	*	*	PUNCT
dem-15776	120	1	*	*	X
dem-15776	120	2	95.75	95.75	NUM
dem-15776	120	3	r	r	NOUN
dem-15776	120	4	≤	≤	NUM
dem-15776	120	5	1	1	NUM
dem-15776	120	6	0.224	0.224	NUM
dem-15776	120	7	80.22	80.22	NUM
dem-15776	120	8	*	*	PUNCT
dem-15776	120	9	*	*	PUNCT
dem-15776	120	10	*	*	X
dem-15776	120	11	69.82	69.82	NUM
dem-15776	120	12	r	r	NOUN
dem-15776	120	13	≤	≤	NUM
dem-15776	120	14	2	2	NUM
dem-15776	120	15	0.205	0.205	NUM
dem-15776	120	16	50.97	50.97	NUM
dem-15776	120	17	*	*	PUNCT
dem-15776	120	18	*	*	NOUN
dem-15776	120	19	47.85	47.85	NUM
dem-15776	120	20	r	r	NOUN
dem-15776	120	21	≤	≤	NUM
dem-15776	120	22	3	3	NUM
dem-15776	120	23	0.129	0.129	NUM
dem-15776	120	24	24.53	24.53	NUM
dem-15776	120	25	29.79	29.79	NUM
dem-15776	120	26	r	r	NOUN
dem-15776	120	27	≤	≤	NUM
dem-15776	120	28	4	4	NUM
dem-15776	120	29	0.058	0.058	NUM
dem-15776	120	30	8.64	8.64	NUM
dem-15776	120	31	15.49	15.49	NUM
dem-15776	120	32	r	r	NOUN
dem-15776	120	33	≤	≤	NUM
dem-15776	120	34	5	5	NUM
dem-15776	120	35	0.015	0.015	NUM
dem-15776	120	36	1.73	1.73	NUM
dem-15776	120	37	3.84	3.84	NUM
dem-15776	120	38	note	note	NOUN
dem-15776	120	39	:	:	PUNCT
dem-15776	120	40	*	*	PUNCT
dem-15776	120	41	*	*	PUNCT
dem-15776	120	42	*	*	PUNCT
dem-15776	120	43	(	(	PUNCT
dem-15776	120	44	*	*	PUNCT
dem-15776	120	45	*	*	NOUN
dem-15776	120	46	)	)	PUNCT
dem-15776	120	47	signifies	signify	VERB
dem-15776	120	48	rejection	rejection	NOUN
dem-15776	120	49	of	of	ADP
dem-15776	120	50	hypothesis	hypothesis	NOUN
dem-15776	120	51	at	at	ADP
dem-15776	120	52	1	1	NUM
dem-15776	120	53	%	%	NOUN
dem-15776	120	54	(	(	PUNCT
dem-15776	120	55	5	5	NUM
dem-15776	120	56	%	%	NOUN
dem-15776	120	57	)	)	PUNCT
dem-15776	120	58	critical	critical	ADJ
dem-15776	120	59	level	level	NOUN
dem-15776	120	60	.	.	PUNCT
dem-15776	121	1	as	as	SCONJ
dem-15776	121	2	discussed	discuss	VERB
dem-15776	121	3	in	in	ADP
dem-15776	121	4	the	the	DET
dem-15776	121	5	previous	previous	ADJ
dem-15776	121	6	section	section	NOUN
dem-15776	121	7	of	of	ADP
dem-15776	121	8	this	this	DET
dem-15776	121	9	study	study	NOUN
dem-15776	121	10	,	,	PUNCT
dem-15776	121	11	the	the	DET
dem-15776	121	12	relationship	relationship	NOUN
dem-15776	121	13	between	between	ADP
dem-15776	121	14	the	the	DET
dem-15776	121	15	money	money	NOUN
dem-15776	121	16	supply	supply	NOUN
dem-15776	121	17	and	and	CCONJ
dem-15776	121	18	stock	stock	NOUN
dem-15776	121	19	prices	price	NOUN
dem-15776	121	20	is	be	AUX
dem-15776	121	21	not	not	PART
dem-15776	121	22	straightforward	straightforward	ADJ
dem-15776	121	23	,	,	PUNCT
dem-15776	121	24	given	give	VERB
dem-15776	121	25	that	that	SCONJ
dem-15776	121	26	on	on	ADP
dem-15776	121	27	the	the	DET
dem-15776	121	28	one	one	NUM
dem-15776	121	29	hand	hand	NOUN
dem-15776	121	30	an	an	DET
dem-15776	121	31	increase	increase	NOUN
dem-15776	121	32	in	in	ADP
dem-15776	121	33	money	money	NOUN
dem-15776	121	34	supply	supply	NOUN
dem-15776	121	35	may	may	AUX
dem-15776	121	36	increase	increase	VERB
dem-15776	121	37	stock	stock	NOUN
dem-15776	121	38	prices	price	NOUN
dem-15776	121	39	by	by	ADP
dem-15776	121	40	creating	create	VERB
dem-15776	121	41	an	an	DET
dem-15776	121	42	excess	excess	ADJ
dem-15776	121	43	supply	supply	NOUN
dem-15776	121	44	of	of	ADP
dem-15776	121	45	money	money	NOUN
dem-15776	121	46	balances	balance	NOUN
dem-15776	121	47	,	,	PUNCT
dem-15776	121	48	while	while	SCONJ
dem-15776	121	49	on	on	ADP
dem-15776	121	50	the	the	DET
dem-15776	121	51	other	other	ADJ
dem-15776	121	52	hand	hand	NOUN
dem-15776	121	53	an	an	DET
dem-15776	121	54	increase	increase	NOUN
dem-15776	121	55	in	in	ADP
dem-15776	121	56	the	the	DET
dem-15776	121	57	money	money	NOUN
dem-15776	121	58	supply	supply	NOUN
dem-15776	121	59	may	may	AUX
dem-15776	121	60	lower	lower	VERB
dem-15776	121	61	stock	stock	NOUN
dem-15776	121	62	prices	price	NOUN
dem-15776	121	63	by	by	ADP
dem-15776	121	64	increasing	increase	VERB
dem-15776	121	65	the	the	DET
dem-15776	121	66	price	price	NOUN
dem-15776	121	67	level	level	NOUN
dem-15776	121	68	.	.	PUNCT
dem-15776	122	1	in	in	ADP
dem-15776	122	2	case	case	NOUN
dem-15776	122	3	of	of	ADP
dem-15776	122	4	india	india	PROPN
dem-15776	122	5	,	,	PUNCT
dem-15776	122	6	it	it	PRON
dem-15776	122	7	appears	appear	VERB
dem-15776	122	8	as	as	ADP
dem-15776	122	9	though	though	SCONJ
dem-15776	122	10	an	an	DET
dem-15776	122	11	increase	increase	NOUN
dem-15776	122	12	in	in	ADP
dem-15776	122	13	the	the	DET
dem-15776	122	14	money	money	NOUN
dem-15776	122	15	supply	supply	NOUN
dem-15776	122	16	6	6	NUM
dem-15776	122	17	the	the	DET
dem-15776	122	18	figures	figure	NOUN
dem-15776	122	19	in	in	ADP
dem-15776	122	20	the	the	DET
dem-15776	122	21	parentheses	parenthesis	NOUN
dem-15776	122	22	are	be	AUX
dem-15776	122	23	t	t	NOUN
dem-15776	122	24	-	-	PUNCT
dem-15776	122	25	values	value	NOUN
dem-15776	122	26	for	for	ADP
dem-15776	122	27	the	the	DET
dem-15776	122	28	corresponding	corresponding	ADJ
dem-15776	122	29	coefficients	coefficient	NOUN
dem-15776	122	30	,	,	PUNCT
dem-15776	122	31	where	where	SCONJ
dem-15776	122	32	*	*	NOUN
dem-15776	122	33	*	*	PUNCT
dem-15776	122	34	*	*	PUNCT
dem-15776	122	35	indicates	indicate	VERB
dem-15776	122	36	significance	significance	NOUN
dem-15776	122	37	at	at	ADP
dem-15776	122	38	the	the	DET
dem-15776	122	39	1	1	NUM
dem-15776	122	40	%	%	NOUN
dem-15776	122	41	critical	critical	ADJ
dem-15776	122	42	level	level	NOUN
dem-15776	122	43	.	.	PUNCT
dem-15776	123	1	kamal	kamal	PROPN
dem-15776	123	2	p.	p.	PROPN
dem-15776	123	3	upadhyaya	upadhyaya	PROPN
dem-15776	123	4	,	,	PUNCT
dem-15776	123	5	raja	raja	PROPN
dem-15776	123	6	nag	nag	PROPN
dem-15776	123	7	and	and	CCONJ
dem-15776	124	1	franklin	franklin	PROPN
dem-15776	124	2	g.	g.	PROPN
dem-15776	124	3	mixon	mixon	PROPN
dem-15776	124	4	,	,	PUNCT
dem-15776	124	5	jr	jr	PROPN
dem-15776	124	6	.	.	PROPN
dem-15776	124	7	dynamic	dynamic	ADJ
dem-15776	124	8	econometric	econometric	ADJ
dem-15776	124	9	models	model	NOUN
dem-15776	124	10	18	18	NUM
dem-15776	124	11	(	(	PUNCT
dem-15776	124	12	2018	2018	NUM
dem-15776	124	13	)	)	PUNCT
dem-15776	124	14	35–47	35–47	NUM
dem-15776	124	15	42	42	NUM
dem-15776	124	16	has	have	VERB
dem-15776	124	17	a	a	DET
dem-15776	124	18	negative	negative	ADJ
dem-15776	124	19	effect	effect	NOUN
dem-15776	124	20	on	on	ADP
dem-15776	124	21	stock	stock	NOUN
dem-15776	124	22	prices	price	NOUN
dem-15776	124	23	in	in	ADP
dem-15776	124	24	the	the	DET
dem-15776	124	25	long	long	ADJ
dem-15776	124	26	run	run	NOUN
dem-15776	124	27	,	,	PUNCT
dem-15776	124	28	presumably	presumably	ADV
dem-15776	124	29	because	because	SCONJ
dem-15776	124	30	of	of	ADP
dem-15776	124	31	its	its	PRON
dem-15776	124	32	effect	effect	NOUN
dem-15776	124	33	on	on	ADP
dem-15776	124	34	the	the	DET
dem-15776	124	35	price	price	NOUN
dem-15776	124	36	level	level	NOUN
dem-15776	124	37	.	.	PUNCT
dem-15776	125	1	this	this	DET
dem-15776	125	2	finding	finding	NOUN
dem-15776	125	3	is	be	AUX
dem-15776	125	4	consistent	consistent	ADJ
dem-15776	125	5	with	with	ADP
dem-15776	125	6	wongbangpo	wongbangpo	NOUN
dem-15776	125	7	and	and	CCONJ
dem-15776	125	8	sharma	sharma	PROPN
dem-15776	125	9	’s	’s	PART
dem-15776	125	10	(	(	PUNCT
dem-15776	125	11	2002	2002	NUM
dem-15776	125	12	)	)	PUNCT
dem-15776	125	13	findings	finding	NOUN
dem-15776	125	14	for	for	ADP
dem-15776	125	15	indonesia	indonesia	PROPN
dem-15776	125	16	and	and	CCONJ
dem-15776	125	17	the	the	DET
dem-15776	125	18	philippines	philippine	NOUN
dem-15776	125	19	.	.	PUNCT
dem-15776	126	1	the	the	DET
dem-15776	126	2	coefficient	coefficient	NOUN
dem-15776	126	3	on	on	ADP
dem-15776	126	4	the	the	DET
dem-15776	126	5	price	price	NOUN
dem-15776	126	6	level	level	NOUN
dem-15776	126	7	(	(	PUNCT
dem-15776	126	8	wpi	wpi	NOUN
dem-15776	126	9	)	)	PUNCT
dem-15776	126	10	is	be	AUX
dem-15776	126	11	negative	negative	ADJ
dem-15776	126	12	,	,	PUNCT
dem-15776	126	13	which	which	PRON
dem-15776	126	14	suggests	suggest	VERB
dem-15776	126	15	that	that	SCONJ
dem-15776	126	16	an	an	DET
dem-15776	126	17	increase	increase	NOUN
dem-15776	126	18	in	in	ADP
dem-15776	126	19	the	the	DET
dem-15776	126	20	price	price	NOUN
dem-15776	126	21	level	level	NOUN
dem-15776	126	22	raises	raise	VERB
dem-15776	126	23	the	the	DET
dem-15776	126	24	production	production	NOUN
dem-15776	126	25	costs	cost	NOUN
dem-15776	126	26	,	,	PUNCT
dem-15776	126	27	lowers	lower	VERB
dem-15776	126	28	corporate	corporate	ADJ
dem-15776	126	29	profits	profit	NOUN
dem-15776	126	30	and	and	CCONJ
dem-15776	126	31	reduces	reduce	VERB
dem-15776	126	32	expected	expect	VERB
dem-15776	126	33	future	future	ADJ
dem-15776	126	34	cash	cash	NOUN
dem-15776	126	35	flows	flow	NOUN
dem-15776	126	36	.	.	PUNCT
dem-15776	127	1	the	the	DET
dem-15776	127	2	coefficient	coefficient	NOUN
dem-15776	127	3	,	,	PUNCT
dem-15776	127	4	however	however	ADV
dem-15776	127	5	,	,	PUNCT
dem-15776	127	6	is	be	AUX
dem-15776	127	7	not	not	PART
dem-15776	127	8	statistically	statistically	ADV
dem-15776	127	9	significant	significant	ADJ
dem-15776	127	10	at	at	ADP
dem-15776	127	11	the	the	DET
dem-15776	127	12	conventional	conventional	ADJ
dem-15776	127	13	level	level	NOUN
dem-15776	127	14	.	.	PUNCT
dem-15776	128	1	likewise	likewise	ADV
dem-15776	128	2	,	,	PUNCT
dem-15776	128	3	the	the	DET
dem-15776	128	4	coefficient	coefficient	NOUN
dem-15776	128	5	attached	attach	VERB
dem-15776	128	6	to	to	ADP
dem-15776	128	7	the	the	DET
dem-15776	128	8	interest	interest	NOUN
dem-15776	128	9	rate	rate	NOUN
dem-15776	128	10	(	(	PUNCT
dem-15776	128	11	r	r	NOUN
dem-15776	128	12	)	)	PUNCT
dem-15776	128	13	,	,	PUNCT
dem-15776	128	14	which	which	PRON
dem-15776	128	15	carries	carry	VERB
dem-15776	128	16	an	an	DET
dem-15776	128	17	unexpected	unexpected	ADJ
dem-15776	128	18	sign	sign	NOUN
dem-15776	128	19	,	,	PUNCT
dem-15776	128	20	is	be	AUX
dem-15776	128	21	not	not	PART
dem-15776	128	22	statistically	statistically	ADV
dem-15776	128	23	significant	significant	ADJ
dem-15776	128	24	.	.	PUNCT
dem-15776	129	1	wongbangpo	wongbangpo	NOUN
dem-15776	129	2	and	and	CCONJ
dem-15776	129	3	sharma	sharma	PROPN
dem-15776	129	4	(	(	PUNCT
dem-15776	129	5	2002	2002	NUM
dem-15776	129	6	)	)	PUNCT
dem-15776	129	7	similarly	similarly	ADV
dem-15776	129	8	found	find	VERB
dem-15776	129	9	a	a	DET
dem-15776	129	10	positive	positive	ADJ
dem-15776	129	11	long	long	ADJ
dem-15776	129	12	-	-	PUNCT
dem-15776	129	13	run	run	VERB
dem-15776	129	14	effect	effect	NOUN
dem-15776	129	15	of	of	ADP
dem-15776	129	16	long	long	ADJ
dem-15776	129	17	-	-	PUNCT
dem-15776	129	18	term	term	NOUN
dem-15776	129	19	interest	interest	NOUN
dem-15776	129	20	rates	rate	NOUN
dem-15776	129	21	on	on	ADP
dem-15776	129	22	stock	stock	NOUN
dem-15776	129	23	prices	price	NOUN
dem-15776	129	24	for	for	ADP
dem-15776	129	25	both	both	PRON
dem-15776	129	26	indonesia	indonesia	PROPN
dem-15776	129	27	and	and	CCONJ
dem-15776	129	28	the	the	DET
dem-15776	129	29	philippines	philippine	NOUN
dem-15776	129	30	.	.	PUNCT
dem-15776	130	1	lastly	lastly	ADV
dem-15776	130	2	,	,	PUNCT
dem-15776	130	3	the	the	DET
dem-15776	130	4	coefficient	coefficient	NOUN
dem-15776	130	5	of	of	ADP
dem-15776	130	6	exch	exch	PROPN
dem-15776	130	7	,	,	PUNCT
dem-15776	130	8	which	which	PRON
dem-15776	130	9	shows	show	VERB
dem-15776	130	10	the	the	DET
dem-15776	130	11	long	long	ADV
dem-15776	130	12	-	-	PUNCT
dem-15776	130	13	run	run	VERB
dem-15776	130	14	effect	effect	NOUN
dem-15776	130	15	of	of	ADP
dem-15776	130	16	the	the	DET
dem-15776	130	17	exchange	exchange	NOUN
dem-15776	130	18	rate	rate	NOUN
dem-15776	130	19	(	(	PUNCT
dem-15776	130	20	exch	exch	PROPN
dem-15776	130	21	)	)	PUNCT
dem-15776	130	22	on	on	ADP
dem-15776	130	23	stock	stock	NOUN
dem-15776	130	24	prices	price	NOUN
dem-15776	130	25	,	,	PUNCT
dem-15776	130	26	is	be	AUX
dem-15776	130	27	positive	positive	ADJ
dem-15776	130	28	and	and	CCONJ
dem-15776	130	29	statistically	statistically	ADV
dem-15776	130	30	significant	significant	ADJ
dem-15776	130	31	.	.	PUNCT
dem-15776	131	1	this	this	DET
dem-15776	131	2	finding	finding	NOUN
dem-15776	131	3	is	be	AUX
dem-15776	131	4	consistent	consistent	ADJ
dem-15776	131	5	with	with	ADP
dem-15776	131	6	that	that	PRON
dem-15776	131	7	of	of	ADP
dem-15776	131	8	mukherjee	mukherjee	NOUN
dem-15776	131	9	and	and	CCONJ
dem-15776	131	10	naka	naka	PROPN
dem-15776	131	11	(	(	PUNCT
dem-15776	131	12	1995	1995	NUM
dem-15776	131	13	)	)	PUNCT
dem-15776	131	14	in	in	ADP
dem-15776	131	15	the	the	DET
dem-15776	131	16	case	case	NOUN
dem-15776	131	17	of	of	ADP
dem-15776	131	18	japan	japan	PROPN
dem-15776	131	19	and	and	CCONJ
dem-15776	131	20	indonesia	indonesia	PROPN
dem-15776	131	21	,	,	PUNCT
dem-15776	131	22	as	as	ADV
dem-15776	131	23	well	well	ADV
dem-15776	131	24	as	as	ADP
dem-15776	131	25	that	that	PRON
dem-15776	131	26	for	for	ADP
dem-15776	131	27	the	the	DET
dem-15776	131	28	philippines	philippine	NOUN
dem-15776	131	29	and	and	CCONJ
dem-15776	131	30	malaysia	malaysia	PROPN
dem-15776	131	31	in	in	ADP
dem-15776	131	32	the	the	DET
dem-15776	131	33	study	study	NOUN
dem-15776	131	34	by	by	ADP
dem-15776	131	35	wongbangpo	wongbangpo	NOUN
dem-15776	131	36	and	and	CCONJ
dem-15776	131	37	sharma	sharma	PROPN
dem-15776	131	38	(	(	PUNCT
dem-15776	131	39	2002	2002	NUM
dem-15776	131	40	)	)	PUNCT
dem-15776	131	41	.	.	PUNCT
dem-15776	132	1	after	after	ADP
dem-15776	132	2	establishing	establish	VERB
dem-15776	132	3	the	the	DET
dem-15776	132	4	long	long	ADJ
dem-15776	132	5	run	run	NOUN
dem-15776	132	6	relationships	relationship	NOUN
dem-15776	132	7	between	between	ADP
dem-15776	132	8	the	the	DET
dem-15776	132	9	variables	variable	NOUN
dem-15776	132	10	in	in	ADP
dem-15776	132	11	(	(	PUNCT
dem-15776	132	12	1	1	NUM
dem-15776	132	13	)	)	PUNCT
dem-15776	132	14	above	above	ADV
dem-15776	132	15	,	,	PUNCT
dem-15776	132	16	we	we	PRON
dem-15776	132	17	proceed	proceed	VERB
dem-15776	132	18	to	to	PART
dem-15776	132	19	identify	identify	VERB
dem-15776	132	20	the	the	DET
dem-15776	132	21	short	short	ADJ
dem-15776	132	22	run	run	NOUN
dem-15776	132	23	relationship	relationship	NOUN
dem-15776	132	24	of	of	ADP
dem-15776	132	25	the	the	DET
dem-15776	132	26	various	various	ADJ
dem-15776	132	27	macroeconomic	macroeconomic	ADJ
dem-15776	132	28	variables	variable	NOUN
dem-15776	132	29	in	in	ADP
dem-15776	132	30	(	(	PUNCT
dem-15776	132	31	1	1	X
dem-15776	132	32	)	)	PUNCT
dem-15776	132	33	stock	stock	NOUN
dem-15776	132	34	prices	price	NOUN
dem-15776	132	35	(	(	PUNCT
dem-15776	132	36	sp	sp	NOUN
dem-15776	132	37	)	)	PUNCT
dem-15776	132	38	in	in	ADP
dem-15776	132	39	india	india	PROPN
dem-15776	132	40	.	.	PUNCT
dem-15776	133	1	although	although	SCONJ
dem-15776	133	2	recent	recent	ADJ
dem-15776	133	3	studies	study	NOUN
dem-15776	133	4	provide	provide	VERB
dem-15776	133	5	examples	example	NOUN
dem-15776	133	6	of	of	ADP
dem-15776	133	7	the	the	DET
dem-15776	133	8	efficacy	efficacy	NOUN
dem-15776	133	9	of	of	ADP
dem-15776	133	10	various	various	ADJ
dem-15776	133	11	types	type	NOUN
dem-15776	133	12	of	of	ADP
dem-15776	133	13	granger	granger	PROPN
dem-15776	133	14	causality	causality	PROPN
dem-15776	133	15	(	(	PUNCT
dem-15776	133	16	e.g.	e.g.	ADV
dem-15776	133	17	,	,	PUNCT
dem-15776	133	18	piłatowska	piłatowska	NOUN
dem-15776	133	19	,	,	PUNCT
dem-15776	133	20	m.	m.	NOUN
dem-15776	133	21	,	,	PUNCT
dem-15776	133	22	włodarczyk	włodarczyk	INTJ
dem-15776	133	23	,	,	PUNCT
dem-15776	133	24	a.	a.	NOUN
dem-15776	133	25	,	,	PUNCT
dem-15776	133	26	zawada	zawada	PROPN
dem-15776	133	27	,	,	PUNCT
dem-15776	133	28	2014	2014	NUM
dem-15776	133	29	;	;	PUNCT
dem-15776	133	30	syczewska	syczewska	PROPN
dem-15776	133	31	,	,	PUNCT
dem-15776	133	32	2014	2014	NUM
dem-15776	133	33	;	;	PUNCT
dem-15776	133	34	geise	geise	NOUN
dem-15776	133	35	,	,	PUNCT
dem-15776	133	36	a.	a.	NOUN
dem-15776	133	37	and	and	CCONJ
dem-15776	133	38	piłatowska	piłatowska	PROPN
dem-15776	133	39	,	,	PUNCT
dem-15776	133	40	2016	2016	NUM
dem-15776	133	41	)	)	PUNCT
dem-15776	133	42	,	,	PUNCT
dem-15776	133	43	the	the	DET
dem-15776	133	44	relationships	relationship	NOUN
dem-15776	133	45	examined	examine	VERB
dem-15776	133	46	in	in	ADP
dem-15776	133	47	this	this	DET
dem-15776	133	48	study	study	NOUN
dem-15776	133	49	are	be	AUX
dem-15776	133	50	best	well	ADV
dem-15776	133	51	understood	understand	VERB
dem-15776	133	52	through	through	ADP
dem-15776	133	53	the	the	DET
dem-15776	133	54	granger	granger	PROPN
dem-15776	133	55	causality	causality	NOUN
dem-15776	133	56	test	test	NOUN
dem-15776	133	57	derived	derive	VERB
dem-15776	133	58	from	from	ADP
dem-15776	133	59	the	the	DET
dem-15776	133	60	vecm	vecm	NOUN
dem-15776	133	61	estimation	estimation	NOUN
dem-15776	133	62	7	7	NUM
dem-15776	133	63	.	.	PUNCT
dem-15776	134	1	the	the	DET
dem-15776	134	2	vecm	vecm	NOUN
dem-15776	134	3	granger	granger	PROPN
dem-15776	134	4	causality	causality	PROPN
dem-15776	134	5	test	test	NOUN
dem-15776	134	6	results	result	NOUN
dem-15776	134	7	are	be	AUX
dem-15776	134	8	reported	report	VERB
dem-15776	134	9	in	in	ADP
dem-15776	134	10	table	table	NOUN
dem-15776	134	11	3	3	NUM
dem-15776	134	12	.	.	PUNCT
dem-15776	134	13	as	as	SCONJ
dem-15776	134	14	reported	report	VERB
dem-15776	134	15	there	there	ADV
dem-15776	134	16	,	,	PUNCT
dem-15776	134	17	when	when	SCONJ
dem-15776	134	18	all	all	DET
dem-15776	134	19	the	the	DET
dem-15776	134	20	macroeconomic	macroeconomic	ADJ
dem-15776	134	21	variables	variable	NOUN
dem-15776	134	22	are	be	AUX
dem-15776	134	23	taken	take	VERB
dem-15776	134	24	together	together	ADV
dem-15776	134	25	the	the	DET
dem-15776	134	26	chi	chi	ADJ
dem-15776	134	27	-	-	PUNCT
dem-15776	134	28	square	square	ADJ
dem-15776	134	29	value	value	NOUN
dem-15776	134	30	for	for	ADP
dem-15776	134	31	sp	sp	NOUN
dem-15776	134	32	is	be	AUX
dem-15776	134	33	statistically	statistically	ADV
dem-15776	134	34	significant	significant	ADJ
dem-15776	134	35	.	.	PUNCT
dem-15776	135	1	this	this	PRON
dem-15776	135	2	indicates	indicate	VERB
dem-15776	135	3	that	that	SCONJ
dem-15776	135	4	national	national	ADJ
dem-15776	135	5	output	output	NOUN
dem-15776	135	6	(	(	PUNCT
dem-15776	135	7	iip	iip	PROPN
dem-15776	135	8	)	)	PUNCT
dem-15776	135	9	,	,	PUNCT
dem-15776	135	10	the	the	DET
dem-15776	135	11	money	money	NOUN
dem-15776	135	12	supply	supply	NOUN
dem-15776	135	13	(	(	PUNCT
dem-15776	135	14	ms	ms	NOUN
dem-15776	135	15	)	)	PUNCT
dem-15776	135	16	,	,	PUNCT
dem-15776	135	17	the	the	DET
dem-15776	135	18	price	price	NOUN
dem-15776	135	19	level	level	NOUN
dem-15776	135	20	(	(	PUNCT
dem-15776	135	21	wpi	wpi	NOUN
dem-15776	135	22	)	)	PUNCT
dem-15776	135	23	,	,	PUNCT
dem-15776	135	24	the	the	DET
dem-15776	135	25	interest	interest	NOUN
dem-15776	135	26	rate	rate	NOUN
dem-15776	135	27	(	(	PUNCT
dem-15776	135	28	r	r	NOUN
dem-15776	135	29	)	)	PUNCT
dem-15776	135	30	and	and	CCONJ
dem-15776	135	31	the	the	DET
dem-15776	135	32	exchange	exchange	NOUN
dem-15776	135	33	rate	rate	NOUN
dem-15776	135	34	(	(	PUNCT
dem-15776	135	35	exch	exch	PROPN
dem-15776	135	36	)	)	PUNCT
dem-15776	135	37	jointly	jointly	ADV
dem-15776	135	38	granger	granger	NOUN
dem-15776	135	39	-	-	PUNCT
dem-15776	135	40	cause	cause	VERB
dem-15776	135	41	stock	stock	NOUN
dem-15776	135	42	prices	price	NOUN
dem-15776	135	43	(	(	PUNCT
dem-15776	135	44	sp	sp	NOUN
dem-15776	135	45	)	)	PUNCT
dem-15776	135	46	.	.	PUNCT
dem-15776	136	1	accordingly	accordingly	ADV
dem-15776	136	2	,	,	PUNCT
dem-15776	136	3	we	we	PRON
dem-15776	136	4	can	can	AUX
dem-15776	136	5	observe	observe	VERB
dem-15776	136	6	that	that	SCONJ
dem-15776	136	7	,	,	PUNCT
dem-15776	136	8	with	with	ADP
dem-15776	136	9	exception	exception	NOUN
dem-15776	136	10	to	to	ADP
dem-15776	136	11	price	price	NOUN
dem-15776	136	12	level	level	NOUN
dem-15776	136	13	(	(	PUNCT
dem-15776	136	14	wpi	wpi	NOUN
dem-15776	136	15	)	)	PUNCT
dem-15776	136	16	,	,	PUNCT
dem-15776	136	17	each	each	PRON
dem-15776	136	18	of	of	ADP
dem-15776	136	19	the	the	DET
dem-15776	136	20	variables	variable	NOUN
dem-15776	136	21	in	in	ADP
dem-15776	136	22	the	the	DET
dem-15776	136	23	model	model	NOUN
dem-15776	136	24	is	be	AUX
dem-15776	136	25	jointly	jointly	ADV
dem-15776	136	26	granger	granger	NOUN
dem-15776	136	27	-	-	PUNCT
dem-15776	136	28	caused	cause	VERB
dem-15776	136	29	by	by	ADP
dem-15776	136	30	the	the	DET
dem-15776	136	31	other	other	ADJ
dem-15776	136	32	variables	variable	NOUN
dem-15776	136	33	.	.	PUNCT
dem-15776	137	1	7	7	NUM
dem-15776	137	2	vector	vector	NOUN
dem-15776	137	3	error	error	NOUN
dem-15776	137	4	correction	correction	NOUN
dem-15776	137	5	(	(	PUNCT
dem-15776	137	6	vecm	vecm	NOUN
dem-15776	137	7	)	)	PUNCT
dem-15776	137	8	includes	include	VERB
dem-15776	137	9	lags	lag	NOUN
dem-15776	137	10	of	of	ADP
dem-15776	137	11	the	the	DET
dem-15776	137	12	dependent	dependent	ADJ
dem-15776	137	13	variables	variable	NOUN
dem-15776	137	14	,	,	PUNCT
dem-15776	137	15	in	in	ADP
dem-15776	137	16	addition	addition	NOUN
dem-15776	137	17	to	to	ADP
dem-15776	137	18	its	its	PRON
dem-15776	137	19	own	own	ADJ
dem-15776	137	20	lags	lag	NOUN
dem-15776	137	21	.	.	PUNCT
dem-15776	138	1	econometircs	econometircs	NOUN
dem-15776	138	2	software	software	NOUN
dem-15776	138	3	used	use	VERB
dem-15776	138	4	(	(	PUNCT
dem-15776	138	5	e	e	NOUN
dem-15776	138	6	-	-	VERB
dem-15776	138	7	views-7	views-7	PRON
dem-15776	138	8	)	)	PUNCT
dem-15776	138	9	to	to	PART
dem-15776	138	10	estimate	estimate	VERB
dem-15776	138	11	this	this	DET
dem-15776	138	12	equation	equation	NOUN
dem-15776	138	13	also	also	ADV
dem-15776	138	14	generates	generate	VERB
dem-15776	138	15	the	the	DET
dem-15776	138	16	cointegration	cointegration	NOUN
dem-15776	138	17	equation	equation	NOUN
dem-15776	138	18	which	which	PRON
dem-15776	138	19	is	be	AUX
dem-15776	138	20	reported	report	VERB
dem-15776	138	21	in	in	ADP
dem-15776	138	22	(	(	PUNCT
dem-15776	138	23	2	2	NUM
dem-15776	138	24	)	)	PUNCT
dem-15776	138	25	.	.	PUNCT
dem-15776	139	1	our	our	PRON
dem-15776	139	2	methodology	methodology	NOUN
dem-15776	139	3	here	here	ADV
dem-15776	139	4	is	be	AUX
dem-15776	139	5	consistent	consistent	ADJ
dem-15776	139	6	with	with	ADP
dem-15776	139	7	other	other	ADJ
dem-15776	139	8	similar	similar	ADJ
dem-15776	139	9	studies	study	NOUN
dem-15776	139	10	(	(	PUNCT
dem-15776	139	11	maysami	maysami	NOUN
dem-15776	139	12	and	and	CCONJ
dem-15776	139	13	koh	koh	PROPN
dem-15776	139	14	,	,	PUNCT
dem-15776	139	15	2000	2000	NUM
dem-15776	139	16	;	;	PUNCT
dem-15776	139	17	wongbangpo	wongbangpo	NOUN
dem-15776	139	18	and	and	CCONJ
dem-15776	139	19	sharma	sharma	PROPN
dem-15776	139	20	,	,	PUNCT
dem-15776	139	21	2002	2002	NUM
dem-15776	139	22	;	;	PUNCT
dem-15776	139	23	abugri	abugri	PROPN
dem-15776	139	24	,	,	PUNCT
dem-15776	139	25	2008	2008	NUM
dem-15776	139	26	)	)	PUNCT
dem-15776	139	27	.	.	PUNCT
dem-15776	140	1	next	next	ADV
dem-15776	140	2	,	,	PUNCT
dem-15776	140	3	to	to	PART
dem-15776	140	4	ensure	ensure	VERB
dem-15776	140	5	that	that	SCONJ
dem-15776	140	6	the	the	DET
dem-15776	140	7	vecm	vecm	NOUN
dem-15776	140	8	estimation	estimation	NOUN
dem-15776	140	9	does	do	AUX
dem-15776	140	10	not	not	PART
dem-15776	140	11	suffer	suffer	VERB
dem-15776	140	12	from	from	ADP
dem-15776	140	13	serial	serial	ADJ
dem-15776	140	14	correlation	correlation	NOUN
dem-15776	140	15	,	,	PUNCT
dem-15776	140	16	and	and	CCONJ
dem-15776	140	17	that	that	SCONJ
dem-15776	140	18	it	it	PRON
dem-15776	140	19	is	be	AUX
dem-15776	140	20	stable	stable	ADJ
dem-15776	140	21	and	and	CCONJ
dem-15776	140	22	robust	robust	ADJ
dem-15776	140	23	,	,	PUNCT
dem-15776	140	24	we	we	PRON
dem-15776	140	25	conducted	conduct	VERB
dem-15776	140	26	a	a	DET
dem-15776	140	27	portmantau	portmantau	ADV
dem-15776	140	28	test	test	NOUN
dem-15776	140	29	(	(	PUNCT
dem-15776	140	30	castle	castle	NOUN
dem-15776	140	31	and	and	CCONJ
dem-15776	140	32	hendry	hendry	PROPN
dem-15776	140	33	,	,	PUNCT
dem-15776	140	34	2010	2010	NUM
dem-15776	140	35	)	)	PUNCT
dem-15776	140	36	for	for	ADP
dem-15776	140	37	autocorrelation	autocorrelation	NOUN
dem-15776	140	38	(	(	PUNCT
dem-15776	140	39	for	for	ADP
dem-15776	140	40	up	up	ADP
dem-15776	140	41	to	to	PART
dem-15776	140	42	10	10	NUM
dem-15776	140	43	lags	lag	NOUN
dem-15776	140	44	)	)	PUNCT
dem-15776	140	45	.	.	PUNCT
dem-15776	141	1	encouragingly	encouragingly	ADV
dem-15776	141	2	,	,	PUNCT
dem-15776	141	3	the	the	DET
dem-15776	141	4	test	test	NOUN
dem-15776	141	5	result	result	NOUN
dem-15776	141	6	does	do	AUX
dem-15776	141	7	not	not	PART
dem-15776	141	8	reject	reject	VERB
dem-15776	141	9	the	the	DET
dem-15776	141	10	null	null	ADJ
dem-15776	141	11	hypothesis	hypothesis	NOUN
dem-15776	141	12	of	of	ADP
dem-15776	141	13	no	no	DET
dem-15776	141	14	autocorrelation	autocorrelation	NOUN
dem-15776	141	15	.	.	PUNCT
dem-15776	142	1	stock	stock	NOUN
dem-15776	142	2	market	market	NOUN
dem-15776	142	3	prices	price	NOUN
dem-15776	142	4	and	and	CCONJ
dem-15776	142	5	the	the	DET
dem-15776	142	6	macroeconomics	macroeconomic	NOUN
dem-15776	142	7	of	of	ADP
dem-15776	142	8	emerging	emerge	VERB
dem-15776	142	9	economies	economy	NOUN
dem-15776	142	10	dynamic	dynamic	ADJ
dem-15776	142	11	econometric	econometric	ADJ
dem-15776	142	12	models	model	NOUN
dem-15776	142	13	18	18	NUM
dem-15776	142	14	(	(	PUNCT
dem-15776	142	15	2018	2018	NUM
dem-15776	142	16	)	)	PUNCT
dem-15776	142	17	35–47	35–47	NUM
dem-15776	142	18	43	43	NUM
dem-15776	142	19	table	table	NOUN
dem-15776	142	20	3	3	NUM
dem-15776	142	21	.	.	PUNCT
dem-15776	143	1	vec	vec	PROPN
dem-15776	143	2	granger	granger	PROPN
dem-15776	143	3	causality	causality	PROPN
dem-15776	143	4	/	/	SYM
dem-15776	143	5	block	block	NOUN
dem-15776	143	6	exogeneity	exogeneity	NOUN
dem-15776	143	7	wald	wald	NOUN
dem-15776	143	8	test	test	NOUN
dem-15776	143	9	results	result	NOUN
dem-15776	143	10	excluded	exclude	VERB
dem-15776	143	11	variables	variable	NOUN
dem-15776	143	12	dependent	dependent	ADJ
dem-15776	143	13	variable	variable	ADJ
dem-15776	143	14	δsp	δsp	NOUN
dem-15776	143	15	δiip	δiip	NOUN
dem-15776	143	16	δms	δms	NOUN
dem-15776	143	17	δwpi	δwpi	ADV
dem-15776	143	18	δr	δr	ADP
dem-15776	143	19	δexch	δexch	PROPN
dem-15776	143	20	all	all	DET
dem-15776	143	21	δsp	δsp	PROPN
dem-15776	143	22	n	n	CCONJ
dem-15776	143	23	/	/	SYM
dem-15776	143	24	a	a	DET
dem-15776	143	25	4.95	4.95	NUM
dem-15776	143	26	10.57	10.57	NUM
dem-15776	143	27	5.29	5.29	NUM
dem-15776	143	28	7.25	7.25	NUM
dem-15776	143	29	25.52	25.52	NUM
dem-15776	143	30	*	*	PUNCT
dem-15776	143	31	*	*	PUNCT
dem-15776	143	32	*	*	PUNCT
dem-15776	144	1	58.58	58.58	NUM
dem-15776	144	2	*	*	PUNCT
dem-15776	144	3	*	*	PUNCT
dem-15776	144	4	*	*	PUNCT
dem-15776	144	5	δiip	δiip	VERB
dem-15776	144	6	0.57	0.57	NUM
dem-15776	144	7	n	n	CCONJ
dem-15776	144	8	/	/	SYM
dem-15776	144	9	a	a	DET
dem-15776	144	10	11.45	11.45	NUM
dem-15776	144	11	18.27	18.27	NUM
dem-15776	144	12	*	*	NOUN
dem-15776	144	13	*	*	PUNCT
dem-15776	144	14	7.66	7.66	NUM
dem-15776	144	15	9.95	9.95	NUM
dem-15776	144	16	61.67	61.67	NUM
dem-15776	144	17	*	*	PUNCT
dem-15776	144	18	*	*	PUNCT
dem-15776	144	19	*	*	PUNCT
dem-15776	144	20	δms	δm	VERB
dem-15776	144	21	3.55	3.55	NUM
dem-15776	144	22	17.71	17.71	NUM
dem-15776	144	23	*	*	PUNCT
dem-15776	144	24	*	*	PUNCT
dem-15776	144	25	*	*	PUNCT
dem-15776	144	26	n	n	CCONJ
dem-15776	144	27	/	/	SYM
dem-15776	144	28	a	a	DET
dem-15776	144	29	9.48	9.48	NUM
dem-15776	144	30	6.61	6.61	NUM
dem-15776	144	31	5.64	5.64	NUM
dem-15776	144	32	59.65	59.65	NUM
dem-15776	144	33	*	*	PUNCT
dem-15776	144	34	*	*	PUNCT
dem-15776	144	35	*	*	PUNCT
dem-15776	144	36	δwpi	δwpi	PROPN
dem-15776	144	37	2.61	2.61	NUM
dem-15776	144	38	4.43	4.43	NUM
dem-15776	144	39	7.54	7.54	NUM
dem-15776	144	40	n	n	CCONJ
dem-15776	144	41	/	/	SYM
dem-15776	144	42	a	a	DET
dem-15776	144	43	4.62	4.62	NUM
dem-15776	144	44	3.54	3.54	NUM
dem-15776	144	45	31.28	31.28	NUM
dem-15776	144	46	δr	δr	ADP
dem-15776	144	47	2.92	2.92	NUM
dem-15776	144	48	7.14	7.14	NUM
dem-15776	144	49	11.74	11.74	NUM
dem-15776	144	50	11.34	11.34	NUM
dem-15776	144	51	n	n	CCONJ
dem-15776	144	52	/	/	SYM
dem-15776	144	53	a	a	DET
dem-15776	144	54	3.21	3.21	NUM
dem-15776	144	55	54.32	54.32	NUM
dem-15776	144	56	*	*	PUNCT
dem-15776	144	57	*	*	PUNCT
dem-15776	144	58	δexch	δexch	NOUN
dem-15776	144	59	25.30	25.30	NUM
dem-15776	144	60	*	*	PUNCT
dem-15776	144	61	*	*	PUNCT
dem-15776	144	62	*	*	PUNCT
dem-15776	144	63	7.97	7.97	NUM
dem-15776	144	64	6.61	6.61	NUM
dem-15776	144	65	6.78	6.78	NUM
dem-15776	144	66	2.60	2.60	NUM
dem-15776	144	67	n	n	CCONJ
dem-15776	144	68	/	/	SYM
dem-15776	144	69	a	a	DET
dem-15776	144	70	56.53	56.53	NUM
dem-15776	144	71	*	*	SYM
dem-15776	144	72	*	*	PUNCT
dem-15776	144	73	note	note	NOUN
dem-15776	144	74	:	:	PUNCT
dem-15776	144	75	the	the	DET
dem-15776	144	76	numbers	number	NOUN
dem-15776	144	77	above	above	ADV
dem-15776	144	78	are	be	AUX
dem-15776	144	79	chi	chi	ADJ
dem-15776	144	80	-	-	PUNCT
dem-15776	144	81	square	square	ADJ
dem-15776	144	82	statistics	statistic	NOUN
dem-15776	144	83	,	,	PUNCT
dem-15776	144	84	where	where	SCONJ
dem-15776	144	85	*	*	NOUN
dem-15776	144	86	*	*	PUNCT
dem-15776	144	87	*	*	PUNCT
dem-15776	144	88	(	(	PUNCT
dem-15776	144	89	*	*	PUNCT
dem-15776	144	90	*	*	NOUN
dem-15776	144	91	)	)	PUNCT
dem-15776	144	92	signifies	signify	VERB
dem-15776	144	93	the	the	DET
dem-15776	144	94	1	1	NUM
dem-15776	144	95	%	%	NOUN
dem-15776	144	96	(	(	PUNCT
dem-15776	144	97	5	5	NUM
dem-15776	144	98	%	%	NOUN
dem-15776	144	99	)	)	PUNCT
dem-15776	144	100	critical	critical	ADJ
dem-15776	144	101	level	level	NOUN
dem-15776	144	102	.	.	PUNCT
dem-15776	145	1	the	the	DET
dem-15776	145	2	effect	effect	NOUN
dem-15776	145	3	of	of	ADP
dem-15776	145	4	innovation	innovation	NOUN
dem-15776	145	5	in	in	ADP
dem-15776	145	6	any	any	DET
dem-15776	145	7	variable	variable	NOUN
dem-15776	145	8	on	on	ADP
dem-15776	145	9	stock	stock	NOUN
dem-15776	145	10	prices	price	NOUN
dem-15776	145	11	(	(	PUNCT
dem-15776	145	12	sp	sp	NOUN
dem-15776	145	13	)	)	PUNCT
dem-15776	145	14	can	can	AUX
dem-15776	145	15	be	be	AUX
dem-15776	145	16	sensitive	sensitive	ADJ
dem-15776	145	17	to	to	ADP
dem-15776	145	18	the	the	DET
dem-15776	145	19	ordering	ordering	NOUN
dem-15776	145	20	of	of	ADP
dem-15776	145	21	the	the	DET
dem-15776	145	22	variables	variable	NOUN
dem-15776	145	23	.	.	PUNCT
dem-15776	146	1	most	most	ADJ
dem-15776	146	2	of	of	ADP
dem-15776	146	3	the	the	DET
dem-15776	146	4	literature	literature	NOUN
dem-15776	146	5	places	place	VERB
dem-15776	146	6	stock	stock	NOUN
dem-15776	146	7	prices	price	NOUN
dem-15776	146	8	first	first	ADV
dem-15776	146	9	,	,	PUNCT
dem-15776	146	10	which	which	PRON
dem-15776	146	11	are	be	AUX
dem-15776	146	12	followed	follow	VERB
dem-15776	146	13	by	by	ADP
dem-15776	146	14	the	the	DET
dem-15776	146	15	output	output	NOUN
dem-15776	146	16	level	level	NOUN
dem-15776	146	17	(	(	PUNCT
dem-15776	146	18	i.e.	i.e.	X
dem-15776	146	19	,	,	PUNCT
dem-15776	146	20	gdp	gdp	NOUN
dem-15776	146	21	)	)	PUNCT
dem-15776	146	22	,	,	PUNCT
dem-15776	146	23	cpi	cpi	PROPN
dem-15776	146	24	,	,	PUNCT
dem-15776	146	25	money	money	NOUN
dem-15776	146	26	supply	supply	NOUN
dem-15776	146	27	and	and	CCONJ
dem-15776	146	28	interest	interest	NOUN
dem-15776	146	29	rate	rate	NOUN
dem-15776	146	30	.	.	PUNCT
dem-15776	147	1	given	give	VERB
dem-15776	147	2	that	that	SCONJ
dem-15776	147	3	the	the	DET
dem-15776	147	4	exchange	exchange	NOUN
dem-15776	147	5	rate	rate	NOUN
dem-15776	147	6	is	be	AUX
dem-15776	147	7	“	"	PUNCT
dem-15776	147	8	pegged	peg	VERB
dem-15776	147	9	”	"	PUNCT
dem-15776	147	10	in	in	ADP
dem-15776	147	11	most	most	ADJ
dem-15776	147	12	developing	develop	VERB
dem-15776	147	13	countries	country	NOUN
dem-15776	147	14	it	it	PRON
dem-15776	147	15	is	be	AUX
dem-15776	147	16	considered	consider	VERB
dem-15776	147	17	as	as	ADP
dem-15776	147	18	exogenous	exogenous	ADJ
dem-15776	147	19	and	and	CCONJ
dem-15776	147	20	typically	typically	ADV
dem-15776	147	21	placed	place	VERB
dem-15776	147	22	last	last	ADV
dem-15776	147	23	(	(	PUNCT
dem-15776	147	24	see	see	VERB
dem-15776	147	25	naka	naka	PROPN
dem-15776	147	26	and	and	CCONJ
dem-15776	147	27	tufte	tufte	NOUN
dem-15776	147	28	,	,	PUNCT
dem-15776	147	29	1997	1997	NUM
dem-15776	147	30	)	)	PUNCT
dem-15776	147	31	.	.	PUNCT
dem-15776	148	1	the	the	DET
dem-15776	148	2	same	same	ADJ
dem-15776	148	3	ordering	ordering	NOUN
dem-15776	148	4	is	be	AUX
dem-15776	148	5	followed	follow	VERB
dem-15776	148	6	in	in	ADP
dem-15776	148	7	this	this	DET
dem-15776	148	8	study	study	NOUN
dem-15776	148	9	,	,	PUNCT
dem-15776	148	10	with	with	ADP
dem-15776	148	11	exception	exception	NOUN
dem-15776	148	12	to	to	ADP
dem-15776	148	13	the	the	DET
dem-15776	148	14	money	money	NOUN
dem-15776	148	15	supply	supply	NOUN
dem-15776	148	16	.	.	PUNCT
dem-15776	149	1	the	the	DET
dem-15776	149	2	ordering	ordering	NOUN
dem-15776	149	3	in	in	ADP
dem-15776	149	4	this	this	DET
dem-15776	149	5	case	case	NOUN
dem-15776	149	6	is	be	AUX
dem-15776	149	7	sp	sp	NOUN
dem-15776	149	8	,	,	PUNCT
dem-15776	149	9	iip	iip	PROPN
dem-15776	149	10	,	,	PUNCT
dem-15776	149	11	ms	ms	PROPN
dem-15776	149	12	,	,	PUNCT
dem-15776	149	13	wpi	wpi	NOUN
dem-15776	149	14	,	,	PUNCT
dem-15776	149	15	r	r	NOUN
dem-15776	149	16	and	and	CCONJ
dem-15776	149	17	exch	exch	PROPN
dem-15776	149	18	.	.	PROPN
dem-15776	149	19	table	table	NOUN
dem-15776	149	20	4	4	NUM
dem-15776	149	21	reports	report	VERB
dem-15776	149	22	the	the	DET
dem-15776	149	23	variance	variance	NOUN
dem-15776	149	24	decomposition	decomposition	NOUN
dem-15776	149	25	,	,	PUNCT
dem-15776	149	26	also	also	ADV
dem-15776	149	27	referred	refer	VERB
dem-15776	149	28	to	to	PART
dem-15776	149	29	forecast	forecast	VERB
dem-15776	149	30	error	error	NOUN
dem-15776	149	31	variance	variance	NOUN
dem-15776	149	32	(	(	PUNCT
dem-15776	149	33	fev	fev	NOUN
dem-15776	149	34	)	)	PUNCT
dem-15776	149	35	decomposition	decomposition	NOUN
dem-15776	149	36	.	.	PUNCT
dem-15776	150	1	in	in	ADP
dem-15776	150	2	addition	addition	NOUN
dem-15776	150	3	to	to	ADP
dem-15776	150	4	the	the	DET
dem-15776	150	5	forecast	forecast	NOUN
dem-15776	150	6	error	error	NOUN
dem-15776	150	7	variance	variance	NOUN
dem-15776	150	8	(	(	PUNCT
dem-15776	150	9	fev	fev	PROPN
dem-15776	150	10	)	)	PUNCT
dem-15776	150	11	decomposition	decomposition	NOUN
dem-15776	150	12	of	of	ADP
dem-15776	150	13	stock	stock	NOUN
dem-15776	150	14	prices	price	NOUN
dem-15776	150	15	due	due	ADJ
dem-15776	150	16	to	to	ADP
dem-15776	150	17	a	a	DET
dem-15776	150	18	shock	shock	NOUN
dem-15776	150	19	in	in	ADP
dem-15776	150	20	the	the	DET
dem-15776	150	21	macroeconomic	macroeconomic	ADJ
dem-15776	150	22	variables	variable	NOUN
dem-15776	150	23	,	,	PUNCT
dem-15776	150	24	table	table	NOUN
dem-15776	150	25	4	4	NUM
dem-15776	150	26	also	also	ADV
dem-15776	150	27	includes	include	VERB
dem-15776	150	28	the	the	DET
dem-15776	150	29	variance	variance	NOUN
dem-15776	150	30	decomposition	decomposition	NOUN
dem-15776	150	31	of	of	ADP
dem-15776	150	32	other	other	ADJ
dem-15776	150	33	variables	variable	NOUN
dem-15776	150	34	due	due	ADP
dem-15776	150	35	to	to	ADP
dem-15776	150	36	a	a	DET
dem-15776	150	37	shock	shock	NOUN
dem-15776	150	38	in	in	ADP
dem-15776	150	39	other	other	ADJ
dem-15776	150	40	macroeconomic	macroeconomic	ADJ
dem-15776	150	41	variables	variable	NOUN
dem-15776	150	42	,	,	PUNCT
dem-15776	150	43	including	include	VERB
dem-15776	150	44	stock	stock	NOUN
dem-15776	150	45	prices	price	NOUN
dem-15776	150	46	.	.	PUNCT
dem-15776	151	1	table	table	NOUN
dem-15776	151	2	4	4	NUM
dem-15776	151	3	.	.	PUNCT
dem-15776	151	4	variance	variance	NOUN
dem-15776	151	5	decomposition	decomposition	NOUN
dem-15776	151	6	forecast	forecast	NOUN
dem-15776	151	7	error	error	NOUN
dem-15776	151	8	variance	variance	NOUN
dem-15776	151	9	of	of	ADP
dem-15776	151	10	stock	stock	NOUN
dem-15776	151	11	prices	price	NOUN
dem-15776	151	12	explained	explain	VERB
dem-15776	151	13	by	by	ADP
dem-15776	151	14	innovations	innovation	NOUN
dem-15776	151	15	steps	step	NOUN
dem-15776	151	16	ahead	ahead	ADV
dem-15776	151	17	sp	sp	ADP
dem-15776	151	18	iip	iip	PROPN
dem-15776	151	19	ms	ms	PROPN
dem-15776	151	20	wpi	wpi	PROPN
dem-15776	151	21	r	r	PROPN
dem-15776	151	22	exch	exch	PROPN
dem-15776	151	23	3	3	NUM
dem-15776	151	24	89.16	89.16	NUM
dem-15776	151	25	1.40	1.40	NUM
dem-15776	151	26	1.06	1.06	NUM
dem-15776	151	27	1.18	1.18	NUM
dem-15776	151	28	0.35	0.35	NUM
dem-15776	151	29	6.85	6.85	NUM
dem-15776	151	30	6	6	NUM
dem-15776	151	31	91.35	91.35	NUM
dem-15776	151	32	1.33	1.33	NUM
dem-15776	151	33	0.75	0.75	NUM
dem-15776	151	34	0.63	0.63	NUM
dem-15776	151	35	1.17	1.17	NUM
dem-15776	151	36	4.77	4.77	NUM
dem-15776	151	37	9	9	NUM
dem-15776	151	38	87.33	87.33	NUM
dem-15776	151	39	1.26	1.26	NUM
dem-15776	151	40	0.50	0.50	NUM
dem-15776	151	41	2.11	2.11	NUM
dem-15776	151	42	2.98	2.98	NUM
dem-15776	151	43	5.82	5.82	NUM
dem-15776	151	44	12	12	NUM
dem-15776	151	45	85.02	85.02	NUM
dem-15776	151	46	1.15	1.15	NUM
dem-15776	151	47	1.20	1.20	NUM
dem-15776	151	48	3.56	3.56	NUM
dem-15776	151	49	3.28	3.28	NUM
dem-15776	151	50	5.78	5.78	NUM
dem-15776	151	51	forecast	forecast	NOUN
dem-15776	151	52	error	error	NOUN
dem-15776	151	53	variance	variance	NOUN
dem-15776	151	54	of	of	ADP
dem-15776	151	55	stock	stock	NOUN
dem-15776	151	56	prices	price	NOUN
dem-15776	151	57	explained	explain	VERB
dem-15776	151	58	by	by	ADP
dem-15776	151	59	innovations	innovation	NOUN
dem-15776	151	60	in	in	ADP
dem-15776	151	61	sp	sp	ADP
dem-15776	151	62	3	3	NUM
dem-15776	151	63	n	n	CCONJ
dem-15776	151	64	/	/	SYM
dem-15776	151	65	a	a	DET
dem-15776	151	66	1.72	1.72	NUM
dem-15776	151	67	1.05	1.05	NUM
dem-15776	151	68	0.03	0.03	NUM
dem-15776	151	69	6.25	6.25	NUM
dem-15776	151	70	24.36	24.36	NUM
dem-15776	151	71	6	6	NUM
dem-15776	151	72	n	n	CCONJ
dem-15776	151	73	/	/	SYM
dem-15776	151	74	a	a	DET
dem-15776	151	75	11.62	11.62	NUM
dem-15776	151	76	1.49	1.49	NUM
dem-15776	151	77	0.24	0.24	NUM
dem-15776	151	78	9.39	9.39	NUM
dem-15776	151	79	35.79	35.79	NUM
dem-15776	151	80	9	9	NUM
dem-15776	151	81	n	n	CCONJ
dem-15776	151	82	/	/	SYM
dem-15776	151	83	a	a	DET
dem-15776	151	84	21.40	21.40	NUM
dem-15776	151	85	2.70	2.70	NUM
dem-15776	151	86	1.09	1.09	NUM
dem-15776	151	87	15.81	15.81	NUM
dem-15776	151	88	40.12	40.12	NUM
dem-15776	151	89	12	12	NUM
dem-15776	151	90	n	n	CCONJ
dem-15776	151	91	/	/	SYM
dem-15776	151	92	a	a	DET
dem-15776	151	93	22.90	22.90	NUM
dem-15776	151	94	3.41	3.41	NUM
dem-15776	151	95	2.16	2.16	NUM
dem-15776	151	96	21.67	21.67	NUM
dem-15776	151	97	40.72	40.72	NUM
dem-15776	151	98	from	from	ADP
dem-15776	151	99	the	the	DET
dem-15776	151	100	fev	fev	PROPN
dem-15776	152	1	it	it	PRON
dem-15776	152	2	appears	appear	VERB
dem-15776	152	3	that	that	SCONJ
dem-15776	152	4	most	most	ADJ
dem-15776	152	5	of	of	ADP
dem-15776	152	6	the	the	DET
dem-15776	152	7	variance	variance	NOUN
dem-15776	152	8	in	in	ADP
dem-15776	152	9	stock	stock	NOUN
dem-15776	152	10	prices	price	NOUN
dem-15776	152	11	(	(	PUNCT
dem-15776	152	12	sp	sp	NOUN
dem-15776	152	13	)	)	PUNCT
dem-15776	152	14	in	in	ADP
dem-15776	152	15	the	the	DET
dem-15776	152	16	short	short	ADJ
dem-15776	152	17	horizon	horizon	NOUN
dem-15776	152	18	is	be	AUX
dem-15776	152	19	mainly	mainly	ADV
dem-15776	152	20	attributable	attributable	ADJ
dem-15776	152	21	to	to	ADP
dem-15776	152	22	its	its	PRON
dem-15776	152	23	own	own	ADJ
dem-15776	152	24	shock	shock	NOUN
dem-15776	152	25	(	(	PUNCT
dem-15776	152	26	e.g.	e.g.	ADV
dem-15776	152	27	,	,	PUNCT
dem-15776	152	28	89	89	NUM
dem-15776	152	29	percent	percent	NOUN
dem-15776	152	30	in	in	ADP
dem-15776	152	31	third	third	ADJ
dem-15776	152	32	period	period	NOUN
dem-15776	152	33	,	,	PUNCT
dem-15776	152	34	91	91	NUM
dem-15776	152	35	percent	percent	NOUN
dem-15776	152	36	in	in	ADP
dem-15776	152	37	sixth	sixth	ADJ
dem-15776	152	38	period	period	NOUN
dem-15776	152	39	,	,	PUNCT
dem-15776	152	40	and	and	CCONJ
dem-15776	152	41	85	85	NUM
dem-15776	152	42	percent	percent	NOUN
dem-15776	152	43	in	in	ADP
dem-15776	152	44	twelfth	twelfth	ADJ
dem-15776	152	45	period	period	NOUN
dem-15776	152	46	)	)	PUNCT
dem-15776	152	47	.	.	PUNCT
dem-15776	153	1	interestingly	interestingly	ADV
dem-15776	153	2	,	,	PUNCT
dem-15776	153	3	innovations	innovation	NOUN
dem-15776	153	4	in	in	ADP
dem-15776	153	5	macroeconomic	macroeconomic	ADJ
dem-15776	153	6	variables	variable	NOUN
dem-15776	153	7	such	such	ADJ
dem-15776	153	8	as	as	ADP
dem-15776	153	9	the	the	DET
dem-15776	153	10	output	output	NOUN
dem-15776	153	11	level	level	NOUN
dem-15776	153	12	(	(	PUNCT
dem-15776	153	13	iip	iip	PROPN
dem-15776	153	14	)	)	PUNCT
dem-15776	153	15	and	and	CCONJ
dem-15776	153	16	money	money	NOUN
dem-15776	153	17	supply	supply	NOUN
dem-15776	153	18	(	(	PUNCT
dem-15776	153	19	ms	ms	NOUN
dem-15776	153	20	)	)	PUNCT
dem-15776	153	21	do	do	AUX
dem-15776	153	22	not	not	PART
dem-15776	153	23	seem	seem	VERB
dem-15776	153	24	to	to	PART
dem-15776	153	25	attribute	attribute	VERB
dem-15776	153	26	much	much	ADJ
dem-15776	153	27	in	in	ADP
dem-15776	153	28	the	the	DET
dem-15776	153	29	varikamal	varikamal	ADJ
dem-15776	153	30	p.	p.	PROPN
dem-15776	153	31	upadhyaya	upadhyaya	PROPN
dem-15776	153	32	,	,	PUNCT
dem-15776	153	33	raja	raja	PROPN
dem-15776	153	34	nag	nag	PROPN
dem-15776	153	35	and	and	CCONJ
dem-15776	153	36	franklin	franklin	PROPN
dem-15776	153	37	g.	g.	PROPN
dem-15776	153	38	mixon	mixon	PROPN
dem-15776	153	39	,	,	PUNCT
dem-15776	153	40	jr	jr	PROPN
dem-15776	153	41	.	.	PROPN
dem-15776	153	42	dynamic	dynamic	ADJ
dem-15776	153	43	econometric	econometric	ADJ
dem-15776	153	44	models	model	NOUN
dem-15776	153	45	18	18	NUM
dem-15776	153	46	(	(	PUNCT
dem-15776	153	47	2018	2018	NUM
dem-15776	153	48	)	)	PUNCT
dem-15776	153	49	35–47	35–47	NUM
dem-15776	153	50	44	44	NUM
dem-15776	153	51	ance	ance	NOUN
dem-15776	153	52	of	of	ADP
dem-15776	153	53	stock	stock	NOUN
dem-15776	153	54	prices	price	NOUN
dem-15776	153	55	(	(	PUNCT
dem-15776	153	56	sp	sp	NOUN
dem-15776	153	57	)	)	PUNCT
dem-15776	153	58	.	.	PUNCT
dem-15776	154	1	for	for	ADP
dem-15776	154	2	example	example	NOUN
dem-15776	154	3	,	,	PUNCT
dem-15776	154	4	iip	iip	PROPN
dem-15776	154	5	attributes	attribute	VERB
dem-15776	154	6	less	less	ADJ
dem-15776	154	7	than	than	ADP
dem-15776	154	8	two	two	NUM
dem-15776	154	9	percent	percent	NOUN
dem-15776	154	10	and	and	CCONJ
dem-15776	154	11	ms	ms	NOUN
dem-15776	154	12	attributes	attribute	NOUN
dem-15776	154	13	around	around	ADP
dem-15776	154	14	one	one	NUM
dem-15776	154	15	percent	percent	NOUN
dem-15776	154	16	over	over	ADP
dem-15776	154	17	the	the	DET
dem-15776	154	18	time	time	NOUN
dem-15776	154	19	period	period	NOUN
dem-15776	154	20	.	.	PUNCT
dem-15776	155	1	the	the	DET
dem-15776	155	2	effects	effect	NOUN
dem-15776	155	3	of	of	ADP
dem-15776	155	4	the	the	DET
dem-15776	155	5	price	price	NOUN
dem-15776	155	6	level	level	NOUN
dem-15776	155	7	(	(	PUNCT
dem-15776	155	8	wpi	wpi	NOUN
dem-15776	155	9	)	)	PUNCT
dem-15776	155	10	and	and	CCONJ
dem-15776	155	11	the	the	DET
dem-15776	155	12	interest	interest	NOUN
dem-15776	155	13	rate	rate	NOUN
dem-15776	155	14	(	(	PUNCT
dem-15776	155	15	r	r	NOUN
dem-15776	155	16	)	)	PUNCT
dem-15776	155	17	on	on	ADP
dem-15776	155	18	the	the	DET
dem-15776	155	19	variance	variance	NOUN
dem-15776	155	20	of	of	ADP
dem-15776	155	21	sp	sp	NOUN
dem-15776	155	22	are	be	AUX
dem-15776	155	23	little	little	ADV
dem-15776	155	24	more	more	ADJ
dem-15776	155	25	than	than	ADP
dem-15776	155	26	three	three	NUM
dem-15776	155	27	percent	percent	NOUN
dem-15776	155	28	by	by	ADP
dem-15776	155	29	the	the	DET
dem-15776	155	30	ninth	ninth	ADJ
dem-15776	155	31	and	and	CCONJ
dem-15776	155	32	twelfth	twelfth	ADJ
dem-15776	155	33	time	time	NOUN
dem-15776	155	34	period	period	NOUN
dem-15776	155	35	.	.	PUNCT
dem-15776	156	1	the	the	DET
dem-15776	156	2	only	only	ADJ
dem-15776	156	3	macroeconomic	macroeconomic	ADJ
dem-15776	156	4	variable	variable	NOUN
dem-15776	156	5	that	that	PRON
dem-15776	156	6	has	have	VERB
dem-15776	156	7	a	a	DET
dem-15776	156	8	larger	large	ADJ
dem-15776	156	9	effect	effect	NOUN
dem-15776	156	10	on	on	ADP
dem-15776	156	11	the	the	DET
dem-15776	156	12	variance	variance	NOUN
dem-15776	156	13	of	of	ADP
dem-15776	156	14	sp	sp	NOUN
dem-15776	156	15	is	be	AUX
dem-15776	156	16	the	the	DET
dem-15776	156	17	exchange	exchange	NOUN
dem-15776	156	18	rate	rate	NOUN
dem-15776	156	19	(	(	PUNCT
dem-15776	156	20	exch	exch	PROPN
dem-15776	156	21	)	)	PUNCT
dem-15776	156	22	.	.	PUNCT
dem-15776	157	1	innovation	innovation	NOUN
dem-15776	157	2	in	in	ADP
dem-15776	157	3	this	this	DET
dem-15776	157	4	variable	variable	NOUN
dem-15776	157	5	attributes	attribute	VERB
dem-15776	157	6	five	five	NUM
dem-15776	157	7	percent	percent	NOUN
dem-15776	157	8	or	or	CCONJ
dem-15776	157	9	more	more	ADJ
dem-15776	157	10	from	from	ADP
dem-15776	157	11	period	period	NOUN
dem-15776	157	12	three	three	NUM
dem-15776	157	13	to	to	ADP
dem-15776	157	14	period	period	NOUN
dem-15776	157	15	twelve	twelve	NOUN
dem-15776	157	16	.	.	PUNCT
dem-15776	158	1	the	the	DET
dem-15776	158	2	effect	effect	NOUN
dem-15776	158	3	of	of	ADP
dem-15776	158	4	innovations	innovation	NOUN
dem-15776	158	5	on	on	ADP
dem-15776	158	6	stock	stock	NOUN
dem-15776	158	7	prices	price	NOUN
dem-15776	158	8	(	(	PUNCT
dem-15776	158	9	sp	sp	NOUN
dem-15776	158	10	)	)	PUNCT
dem-15776	158	11	and	and	CCONJ
dem-15776	158	12	other	other	ADJ
dem-15776	158	13	macroeconomic	macroeconomic	ADJ
dem-15776	158	14	variables	variable	NOUN
dem-15776	158	15	on	on	ADP
dem-15776	158	16	the	the	DET
dem-15776	158	17	variance	variance	NOUN
dem-15776	158	18	output	output	NOUN
dem-15776	158	19	level	level	NOUN
dem-15776	158	20	(	(	PUNCT
dem-15776	158	21	iip	iip	PROPN
dem-15776	158	22	)	)	PUNCT
dem-15776	158	23	is	be	AUX
dem-15776	158	24	also	also	ADV
dem-15776	158	25	of	of	ADP
dem-15776	158	26	interest	interest	NOUN
dem-15776	158	27	.	.	PUNCT
dem-15776	159	1	it	it	PRON
dem-15776	159	2	appears	appear	VERB
dem-15776	159	3	that	that	SCONJ
dem-15776	159	4	a	a	DET
dem-15776	159	5	one	one	NUM
dem-15776	159	6	standard	standard	ADJ
dem-15776	159	7	deviation	deviation	NOUN
dem-15776	159	8	shock	shock	NOUN
dem-15776	159	9	in	in	ADP
dem-15776	159	10	sp	sp	ADP
dem-15776	159	11	contributes	contribute	VERB
dem-15776	159	12	to	to	ADP
dem-15776	159	13	22.90	22.90	NUM
dem-15776	159	14	,	,	PUNCT
dem-15776	159	15	21.67	21.67	NUM
dem-15776	159	16	and	and	CCONJ
dem-15776	159	17	40.72	40.72	NUM
dem-15776	159	18	percent	percent	NOUN
dem-15776	159	19	,	,	PUNCT
dem-15776	159	20	respectively	respectively	ADV
dem-15776	159	21	,	,	PUNCT
dem-15776	159	22	in	in	ADP
dem-15776	159	23	iip	iip	PROPN
dem-15776	159	24	(	(	PUNCT
dem-15776	159	25	output	output	PROPN
dem-15776	159	26	)	)	PUNCT
dem-15776	159	27	,	,	PUNCT
dem-15776	159	28	the	the	DET
dem-15776	159	29	interest	interest	NOUN
dem-15776	159	30	rate	rate	NOUN
dem-15776	159	31	(	(	PUNCT
dem-15776	159	32	r	r	NOUN
dem-15776	159	33	)	)	PUNCT
dem-15776	159	34	and	and	CCONJ
dem-15776	159	35	the	the	DET
dem-15776	159	36	exchange	exchange	NOUN
dem-15776	159	37	rate	rate	NOUN
dem-15776	159	38	(	(	PUNCT
dem-15776	159	39	exch	exch	PROPN
dem-15776	159	40	)	)	PUNCT
dem-15776	159	41	,	,	PUNCT
dem-15776	159	42	respectively	respectively	ADV
dem-15776	159	43	,	,	PUNCT
dem-15776	159	44	by	by	ADP
dem-15776	159	45	within	within	ADP
dem-15776	159	46	a	a	DET
dem-15776	159	47	year	year	NOUN
dem-15776	159	48	(	(	PUNCT
dem-15776	159	49	i.e.	i.e.	X
dem-15776	159	50	,	,	PUNCT
dem-15776	159	51	period	period	NOUN
dem-15776	159	52	12	12	NUM
dem-15776	159	53	)	)	PUNCT
dem-15776	159	54	.	.	PUNCT
dem-15776	160	1	the	the	DET
dem-15776	160	2	magnitude	magnitude	NOUN
dem-15776	160	3	of	of	ADP
dem-15776	160	4	the	the	DET
dem-15776	160	5	effect	effect	NOUN
dem-15776	160	6	of	of	ADP
dem-15776	160	7	innovation	innovation	NOUN
dem-15776	160	8	in	in	ADP
dem-15776	160	9	sp	sp	NOUN
dem-15776	160	10	is	be	AUX
dem-15776	160	11	much	much	ADV
dem-15776	160	12	smaller	small	ADJ
dem-15776	160	13	in	in	ADP
dem-15776	160	14	terms	term	NOUN
dem-15776	160	15	of	of	ADP
dem-15776	160	16	the	the	DET
dem-15776	160	17	money	money	NOUN
dem-15776	160	18	supply	supply	NOUN
dem-15776	160	19	(	(	PUNCT
dem-15776	160	20	ms	ms	NOUN
dem-15776	160	21	)	)	PUNCT
dem-15776	160	22	and	and	CCONJ
dem-15776	160	23	the	the	DET
dem-15776	160	24	price	price	NOUN
dem-15776	160	25	level	level	NOUN
dem-15776	160	26	(	(	PUNCT
dem-15776	160	27	wpi	wpi	NOUN
dem-15776	160	28	)	)	PUNCT
dem-15776	160	29	compared	compare	VERB
dem-15776	160	30	with	with	ADP
dem-15776	160	31	other	other	ADJ
dem-15776	160	32	variables	variable	NOUN
dem-15776	160	33	.	.	PUNCT
dem-15776	161	1	the	the	DET
dem-15776	161	2	impulse	impulse	ADJ
dem-15776	161	3	response	response	NOUN
dem-15776	161	4	functions	function	NOUN
dem-15776	161	5	,	,	PUNCT
dem-15776	161	6	which	which	PRON
dem-15776	161	7	are	be	AUX
dem-15776	161	8	available	available	ADJ
dem-15776	161	9	from	from	ADP
dem-15776	161	10	the	the	DET
dem-15776	161	11	authors	author	NOUN
dem-15776	161	12	upon	upon	SCONJ
dem-15776	161	13	request	request	NOUN
dem-15776	161	14	,	,	PUNCT
dem-15776	161	15	show	show	VERB
dem-15776	161	16	the	the	DET
dem-15776	161	17	response	response	NOUN
dem-15776	161	18	of	of	ADP
dem-15776	161	19	stock	stock	NOUN
dem-15776	161	20	prices	price	NOUN
dem-15776	161	21	(	(	PUNCT
dem-15776	161	22	sp	sp	NOUN
dem-15776	161	23	)	)	PUNCT
dem-15776	161	24	to	to	ADP
dem-15776	161	25	a	a	DET
dem-15776	161	26	one	one	NUM
dem-15776	161	27	standard	standard	ADJ
dem-15776	161	28	deviation	deviation	NOUN
dem-15776	161	29	shock	shock	NOUN
dem-15776	161	30	to	to	ADP
dem-15776	161	31	all	all	DET
dem-15776	161	32	the	the	DET
dem-15776	161	33	macroeconomic	macroeconomic	ADJ
dem-15776	161	34	variables	variable	NOUN
dem-15776	161	35	,	,	PUNCT
dem-15776	161	36	and	and	CCONJ
dem-15776	161	37	vice	vice	ADV
dem-15776	161	38	versa	versa	ADV
dem-15776	161	39	.	.	PUNCT
dem-15776	162	1	in	in	ADP
dem-15776	162	2	terms	term	NOUN
dem-15776	162	3	of	of	ADP
dem-15776	162	4	the	the	DET
dem-15776	162	5	effect	effect	NOUN
dem-15776	162	6	of	of	ADP
dem-15776	162	7	a	a	DET
dem-15776	162	8	shock	shock	NOUN
dem-15776	162	9	on	on	ADP
dem-15776	162	10	sp	sp	NOUN
dem-15776	162	11	on	on	ADP
dem-15776	162	12	itself	itself	PRON
dem-15776	162	13	,	,	PUNCT
dem-15776	162	14	the	the	DET
dem-15776	162	15	effect	effect	NOUN
dem-15776	162	16	initially	initially	ADV
dem-15776	162	17	keeps	keep	VERB
dem-15776	162	18	on	on	ADP
dem-15776	162	19	rising	rise	VERB
dem-15776	162	20	,	,	PUNCT
dem-15776	162	21	it	it	PRON
dem-15776	162	22	peaks	peak	VERB
dem-15776	162	23	by	by	ADP
dem-15776	162	24	period	period	NOUN
dem-15776	162	25	6	6	NUM
dem-15776	162	26	and	and	CCONJ
dem-15776	162	27	thereafter	thereafter	ADV
dem-15776	162	28	starts	start	VERB
dem-15776	162	29	declining	decline	VERB
dem-15776	162	30	,	,	PUNCT
dem-15776	162	31	which	which	PRON
dem-15776	162	32	is	be	AUX
dem-15776	162	33	compatible	compatible	ADJ
dem-15776	162	34	with	with	ADP
dem-15776	162	35	the	the	DET
dem-15776	162	36	variance	variance	NOUN
dem-15776	162	37	decomposition	decomposition	NOUN
dem-15776	162	38	result	result	NOUN
dem-15776	162	39	.	.	PUNCT
dem-15776	163	1	in	in	ADP
dem-15776	163	2	the	the	DET
dem-15776	163	3	case	case	NOUN
dem-15776	163	4	of	of	ADP
dem-15776	163	5	iip	iip	PROPN
dem-15776	163	6	,	,	PUNCT
dem-15776	163	7	an	an	DET
dem-15776	163	8	innovation	innovation	NOUN
dem-15776	163	9	on	on	ADP
dem-15776	163	10	its	its	PRON
dem-15776	163	11	effect	effect	NOUN
dem-15776	163	12	on	on	ADP
dem-15776	163	13	sp	sp	ADP
dem-15776	163	14	peaks	peak	NOUN
dem-15776	163	15	at	at	ADP
dem-15776	163	16	period	period	NOUN
dem-15776	163	17	two	two	NUM
dem-15776	163	18	and	and	CCONJ
dem-15776	163	19	becomes	become	VERB
dem-15776	163	20	negative	negative	ADJ
dem-15776	163	21	by	by	ADP
dem-15776	163	22	period	period	NOUN
dem-15776	163	23	12	12	NUM
dem-15776	163	24	.	.	PUNCT
dem-15776	164	1	likewise	likewise	ADV
dem-15776	164	2	,	,	PUNCT
dem-15776	164	3	money	money	NOUN
dem-15776	164	4	supply	supply	NOUN
dem-15776	164	5	and	and	CCONJ
dem-15776	164	6	price	price	NOUN
dem-15776	164	7	level	level	NOUN
dem-15776	164	8	innovations	innovation	NOUN
dem-15776	164	9	also	also	ADV
dem-15776	164	10	have	have	VERB
dem-15776	164	11	some	some	DET
dem-15776	164	12	positive	positive	ADJ
dem-15776	164	13	effect	effect	NOUN
dem-15776	164	14	in	in	ADP
dem-15776	164	15	the	the	DET
dem-15776	164	16	beginning	beginning	NOUN
dem-15776	164	17	,	,	PUNCT
dem-15776	164	18	but	but	CCONJ
dem-15776	164	19	eventually	eventually	ADV
dem-15776	164	20	a	a	DET
dem-15776	164	21	negative	negative	ADJ
dem-15776	164	22	effect	effect	NOUN
dem-15776	164	23	prevails	prevail	VERB
dem-15776	164	24	.	.	PUNCT
dem-15776	165	1	interest	interest	NOUN
dem-15776	165	2	rate	rate	NOUN
dem-15776	165	3	and	and	CCONJ
dem-15776	165	4	exchange	exchange	NOUN
dem-15776	165	5	rate	rate	NOUN
dem-15776	165	6	shocks	shock	NOUN
dem-15776	165	7	have	have	VERB
dem-15776	165	8	negative	negative	ADJ
dem-15776	165	9	effects	effect	NOUN
dem-15776	165	10	from	from	ADP
dem-15776	165	11	the	the	DET
dem-15776	165	12	beginning	beginning	NOUN
dem-15776	165	13	to	to	ADP
dem-15776	165	14	period	period	NOUN
dem-15776	165	15	12	12	NUM
dem-15776	165	16	.	.	PUNCT
dem-15776	166	1	overall	overall	ADV
dem-15776	166	2	,	,	PUNCT
dem-15776	166	3	the	the	DET
dem-15776	166	4	impulse	impulse	ADJ
dem-15776	166	5	response	response	NOUN
dem-15776	166	6	functions	function	NOUN
dem-15776	166	7	corroborate	corroborate	VERB
dem-15776	166	8	the	the	DET
dem-15776	166	9	variance	variance	NOUN
dem-15776	166	10	decomposition	decomposition	NOUN
dem-15776	166	11	analyses	analysis	NOUN
dem-15776	166	12	.	.	PUNCT
dem-15776	167	1	conclusions	conclusion	NOUN
dem-15776	167	2	in	in	ADP
dem-15776	167	3	the	the	DET
dem-15776	167	4	midst	midst	NOUN
dem-15776	167	5	of	of	ADP
dem-15776	167	6	a	a	DET
dem-15776	167	7	growing	grow	VERB
dem-15776	167	8	economy	economy	NOUN
dem-15776	167	9	,	,	PUNCT
dem-15776	167	10	the	the	DET
dem-15776	167	11	stock	stock	NOUN
dem-15776	167	12	market	market	NOUN
dem-15776	167	13	in	in	ADP
dem-15776	167	14	india	india	PROPN
dem-15776	167	15	is	be	AUX
dem-15776	167	16	also	also	ADV
dem-15776	167	17	expanding	expand	VERB
dem-15776	167	18	and	and	CCONJ
dem-15776	167	19	maturing	mature	VERB
dem-15776	167	20	,	,	PUNCT
dem-15776	167	21	thus	thus	ADV
dem-15776	167	22	providing	provide	VERB
dem-15776	167	23	an	an	DET
dem-15776	167	24	opportunity	opportunity	NOUN
dem-15776	167	25	for	for	ADP
dem-15776	167	26	both	both	CCONJ
dem-15776	167	27	domestic	domestic	ADJ
dem-15776	167	28	and	and	CCONJ
dem-15776	167	29	foreign	foreign	ADJ
dem-15776	167	30	investors	investor	NOUN
dem-15776	167	31	.	.	PUNCT
dem-15776	168	1	india	india	PROPN
dem-15776	168	2	’s	’s	PART
dem-15776	168	3	stock	stock	NOUN
dem-15776	168	4	market	market	NOUN
dem-15776	168	5	,	,	PUNCT
dem-15776	168	6	like	like	ADP
dem-15776	168	7	others	other	NOUN
dem-15776	168	8	,	,	PUNCT
dem-15776	168	9	is	be	AUX
dem-15776	168	10	affected	affect	VERB
dem-15776	168	11	by	by	ADP
dem-15776	168	12	a	a	DET
dem-15776	168	13	number	number	NOUN
dem-15776	168	14	of	of	ADP
dem-15776	168	15	macroeconomic	macroeconomic	ADJ
dem-15776	168	16	variables	variable	NOUN
dem-15776	168	17	,	,	PUNCT
dem-15776	168	18	and	and	CCONJ
dem-15776	168	19	while	while	SCONJ
dem-15776	168	20	there	there	PRON
dem-15776	168	21	are	be	VERB
dem-15776	168	22	several	several	ADJ
dem-15776	168	23	empirical	empirical	ADJ
dem-15776	168	24	studies	study	NOUN
dem-15776	168	25	investigating	investigate	VERB
dem-15776	168	26	the	the	DET
dem-15776	168	27	relationship	relationship	NOUN
dem-15776	168	28	between	between	ADP
dem-15776	168	29	stock	stock	NOUN
dem-15776	168	30	prices	price	NOUN
dem-15776	168	31	and	and	CCONJ
dem-15776	168	32	the	the	DET
dem-15776	168	33	macroeconomy	macroeconomy	NOUN
dem-15776	168	34	,	,	PUNCT
dem-15776	168	35	particularly	particularly	ADV
dem-15776	168	36	for	for	ADP
dem-15776	168	37	developed	develop	VERB
dem-15776	168	38	economies	economy	NOUN
dem-15776	168	39	,	,	PUNCT
dem-15776	168	40	such	such	DET
dem-15776	168	41	a	a	DET
dem-15776	168	42	study	study	NOUN
dem-15776	168	43	of	of	ADP
dem-15776	168	44	india	india	PROPN
dem-15776	168	45	’s	’s	PART
dem-15776	168	46	emerging	emerge	VERB
dem-15776	168	47	economy	economy	NOUN
dem-15776	168	48	is	be	AUX
dem-15776	168	49	currently	currently	ADV
dem-15776	168	50	missing	miss	VERB
dem-15776	168	51	from	from	ADP
dem-15776	168	52	the	the	DET
dem-15776	168	53	economics	economic	NOUN
dem-15776	168	54	literature	literature	NOUN
dem-15776	168	55	.	.	PUNCT
dem-15776	169	1	as	as	ADP
dem-15776	169	2	such	such	ADJ
dem-15776	169	3	,	,	PUNCT
dem-15776	169	4	this	this	DET
dem-15776	169	5	study	study	NOUN
dem-15776	169	6	is	be	AUX
dem-15776	169	7	to	to	PART
dem-15776	169	8	investigate	investigate	VERB
dem-15776	169	9	the	the	DET
dem-15776	169	10	relationship	relationship	NOUN
dem-15776	169	11	between	between	ADP
dem-15776	169	12	stock	stock	NOUN
dem-15776	169	13	market	market	NOUN
dem-15776	169	14	prices	price	NOUN
dem-15776	169	15	in	in	ADP
dem-15776	169	16	india	india	PROPN
dem-15776	169	17	and	and	CCONJ
dem-15776	169	18	selected	select	VERB
dem-15776	169	19	macroeconomic	macroeconomic	ADJ
dem-15776	169	20	variables	variable	NOUN
dem-15776	169	21	,	,	PUNCT
dem-15776	169	22	such	such	ADJ
dem-15776	169	23	as	as	ADP
dem-15776	169	24	overall	overall	ADJ
dem-15776	169	25	economic	economic	ADJ
dem-15776	169	26	output	output	NOUN
dem-15776	169	27	,	,	PUNCT
dem-15776	169	28	the	the	DET
dem-15776	169	29	money	money	NOUN
dem-15776	169	30	supply	supply	NOUN
dem-15776	169	31	,	,	PUNCT
dem-15776	169	32	the	the	DET
dem-15776	169	33	price	price	NOUN
dem-15776	169	34	level	level	NOUN
dem-15776	169	35	,	,	PUNCT
dem-15776	169	36	the	the	DET
dem-15776	169	37	interest	interest	NOUN
dem-15776	169	38	rate	rate	NOUN
dem-15776	169	39	and	and	CCONJ
dem-15776	169	40	the	the	DET
dem-15776	169	41	exchange	exchange	NOUN
dem-15776	169	42	rate	rate	NOUN
dem-15776	169	43	.	.	PUNCT
dem-15776	170	1	using	use	VERB
dem-15776	170	2	monthly	monthly	ADJ
dem-15776	170	3	data	datum	NOUN
dem-15776	170	4	from	from	ADP
dem-15776	170	5	january	january	PROPN
dem-15776	170	6	2006	2006	NUM
dem-15776	170	7	to	to	ADP
dem-15776	170	8	june	june	PROPN
dem-15776	170	9	2016	2016	NUM
dem-15776	170	10	,	,	PUNCT
dem-15776	170	11	both	both	PRON
dem-15776	170	12	stock	stock	NOUN
dem-15776	170	13	market	market	NOUN
dem-15776	170	14	prices	price	NOUN
dem-15776	170	15	and	and	CCONJ
dem-15776	170	16	the	the	DET
dem-15776	170	17	macroeconomics	macroeconomic	NOUN
dem-15776	170	18	of	of	ADP
dem-15776	170	19	emerging	emerge	VERB
dem-15776	170	20	economies	economy	NOUN
dem-15776	170	21	dynamic	dynamic	ADJ
dem-15776	170	22	econometric	econometric	ADJ
dem-15776	170	23	models	model	NOUN
dem-15776	170	24	18	18	NUM
dem-15776	170	25	(	(	PUNCT
dem-15776	170	26	2018	2018	NUM
dem-15776	170	27	)	)	PUNCT
dem-15776	170	28	35–47	35–47	NUM
dem-15776	170	29	45	45	NUM
dem-15776	170	30	short	short	ADJ
dem-15776	170	31	-	-	PUNCT
dem-15776	170	32	run	run	NOUN
dem-15776	170	33	and	and	CCONJ
dem-15776	170	34	long	long	ADV
dem-15776	170	35	-	-	PUNCT
dem-15776	170	36	run	run	NOUN
dem-15776	170	37	relationships	relationship	NOUN
dem-15776	170	38	are	be	AUX
dem-15776	170	39	estimated	estimate	VERB
dem-15776	170	40	using	use	VERB
dem-15776	170	41	mix	mix	NOUN
dem-15776	170	42	of	of	ADP
dem-15776	170	43	approaches	approach	NOUN
dem-15776	170	44	,	,	PUNCT
dem-15776	170	45	including	include	VERB
dem-15776	170	46	a	a	DET
dem-15776	170	47	vector	vector	NOUN
dem-15776	170	48	error	error	NOUN
dem-15776	170	49	correction	correction	NOUN
dem-15776	170	50	model	model	NOUN
dem-15776	170	51	(	(	PUNCT
dem-15776	170	52	vecm	vecm	NOUN
dem-15776	170	53	)	)	PUNCT
dem-15776	170	54	,	,	PUNCT
dem-15776	170	55	johansen	johansen	PROPN
dem-15776	170	56	’s	’s	PART
dem-15776	170	57	cointegration	cointegration	NOUN
dem-15776	170	58	test	test	NOUN
dem-15776	170	59	,	,	PUNCT
dem-15776	170	60	granger	granger	PROPN
dem-15776	170	61	causality	causality	NOUN
dem-15776	170	62	tests	test	NOUN
dem-15776	170	63	and	and	CCONJ
dem-15776	170	64	variance	variance	NOUN
dem-15776	170	65	decomposition	decomposition	NOUN
dem-15776	170	66	.	.	PUNCT
dem-15776	171	1	the	the	DET
dem-15776	171	2	empirical	empirical	ADJ
dem-15776	171	3	findings	finding	NOUN
dem-15776	171	4	suggest	suggest	VERB
dem-15776	171	5	that	that	SCONJ
dem-15776	171	6	,	,	PUNCT
dem-15776	171	7	in	in	ADP
dem-15776	171	8	the	the	DET
dem-15776	171	9	long	long	ADJ
dem-15776	171	10	run	run	NOUN
dem-15776	171	11	,	,	PUNCT
dem-15776	171	12	stock	stock	NOUN
dem-15776	171	13	market	market	NOUN
dem-15776	171	14	prices	price	NOUN
dem-15776	171	15	in	in	ADP
dem-15776	171	16	india	india	PROPN
dem-15776	171	17	are	be	AUX
dem-15776	171	18	positively	positively	ADV
dem-15776	171	19	related	relate	VERB
dem-15776	171	20	to	to	ADP
dem-15776	171	21	output	output	NOUN
dem-15776	171	22	growth	growth	NOUN
dem-15776	171	23	,	,	PUNCT
dem-15776	171	24	while	while	SCONJ
dem-15776	171	25	money	money	NOUN
dem-15776	171	26	supply	supply	NOUN
dem-15776	171	27	growth	growth	NOUN
dem-15776	171	28	seems	seem	VERB
dem-15776	171	29	to	to	PART
dem-15776	171	30	be	be	AUX
dem-15776	171	31	negatively	negatively	ADV
dem-15776	171	32	related	relate	VERB
dem-15776	171	33	to	to	ADP
dem-15776	171	34	stock	stock	NOUN
dem-15776	171	35	prices	price	NOUN
dem-15776	171	36	.	.	PUNCT
dem-15776	172	1	the	the	DET
dem-15776	172	2	granger	granger	PROPN
dem-15776	172	3	causality	causality	PROPN
dem-15776	172	4	test	test	NOUN
dem-15776	172	5	indicates	indicate	VERB
dem-15776	172	6	that	that	SCONJ
dem-15776	172	7	,	,	PUNCT
dem-15776	172	8	as	as	ADP
dem-15776	172	9	a	a	DET
dem-15776	172	10	group	group	NOUN
dem-15776	172	11	,	,	PUNCT
dem-15776	172	12	all	all	PRON
dem-15776	172	13	of	of	ADP
dem-15776	172	14	the	the	DET
dem-15776	172	15	macroeconomic	macroeconomic	ADJ
dem-15776	172	16	variable	variable	NOUN
dem-15776	172	17	in	in	ADP
dem-15776	172	18	the	the	DET
dem-15776	172	19	model	model	NOUN
dem-15776	172	20	granger	granger	NOUN
dem-15776	172	21	-	-	PUNCT
dem-15776	172	22	cause	cause	VERB
dem-15776	172	23	stock	stock	NOUN
dem-15776	172	24	prices	price	NOUN
dem-15776	172	25	in	in	ADP
dem-15776	172	26	india	india	PROPN
dem-15776	172	27	.	.	PUNCT
dem-15776	173	1	likewise	likewise	ADV
dem-15776	173	2	,	,	PUNCT
dem-15776	173	3	the	the	DET
dem-15776	173	4	combination	combination	NOUN
dem-15776	173	5	of	of	ADP
dem-15776	173	6	stock	stock	NOUN
dem-15776	173	7	prices	price	NOUN
dem-15776	173	8	and	and	CCONJ
dem-15776	173	9	the	the	DET
dem-15776	173	10	other	other	ADJ
dem-15776	173	11	variables	variable	NOUN
dem-15776	173	12	(	(	PUNCT
dem-15776	173	13	as	as	ADP
dem-15776	173	14	a	a	DET
dem-15776	173	15	group	group	NOUN
dem-15776	173	16	)	)	PUNCT
dem-15776	173	17	granger	granger	NOUN
dem-15776	173	18	-	-	PUNCT
dem-15776	173	19	causes	cause	VERB
dem-15776	173	20	each	each	PRON
dem-15776	173	21	of	of	ADP
dem-15776	173	22	the	the	DET
dem-15776	173	23	macroeconomic	macroeconomic	ADJ
dem-15776	173	24	variables	variable	NOUN
dem-15776	173	25	in	in	ADP
dem-15776	173	26	model	model	NOUN
dem-15776	173	27	,	,	PUNCT
dem-15776	173	28	with	with	ADP
dem-15776	173	29	the	the	DET
dem-15776	173	30	exception	exception	NOUN
dem-15776	173	31	of	of	ADP
dem-15776	173	32	the	the	DET
dem-15776	173	33	price	price	NOUN
dem-15776	173	34	level	level	NOUN
dem-15776	173	35	.	.	PUNCT
dem-15776	174	1	lastly	lastly	ADV
dem-15776	174	2	,	,	PUNCT
dem-15776	174	3	variance	variance	NOUN
dem-15776	174	4	decomposition	decomposition	NOUN
dem-15776	174	5	and	and	CCONJ
dem-15776	174	6	impulse	impulse	ADJ
dem-15776	174	7	response	response	NOUN
dem-15776	174	8	functions	function	NOUN
dem-15776	174	9	suggest	suggest	VERB
dem-15776	174	10	that	that	SCONJ
dem-15776	174	11	the	the	DET
dem-15776	174	12	stock	stock	NOUN
dem-15776	174	13	market	market	NOUN
dem-15776	174	14	dynamically	dynamically	ADV
dem-15776	174	15	interacts	interact	VERB
dem-15776	174	16	with	with	ADP
dem-15776	174	17	key	key	ADJ
dem-15776	174	18	macroeconomic	macroeconomic	ADJ
dem-15776	174	19	variables	variable	NOUN
dem-15776	174	20	.	.	PUNCT
dem-15776	175	1	more	more	ADV
dem-15776	175	2	specifically	specifically	ADV
dem-15776	175	3	,	,	PUNCT
dem-15776	175	4	although	although	SCONJ
dem-15776	175	5	most	most	ADJ
dem-15776	175	6	of	of	ADP
dem-15776	175	7	the	the	DET
dem-15776	175	8	variation	variation	NOUN
dem-15776	175	9	in	in	ADP
dem-15776	175	10	the	the	DET
dem-15776	175	11	stock	stock	NOUN
dem-15776	175	12	market	market	NOUN
dem-15776	175	13	is	be	AUX
dem-15776	175	14	captured	capture	VERB
dem-15776	175	15	by	by	ADP
dem-15776	175	16	its	its	PRON
dem-15776	175	17	own	own	ADJ
dem-15776	175	18	innovation	innovation	NOUN
dem-15776	175	19	,	,	PUNCT
dem-15776	175	20	the	the	DET
dem-15776	175	21	exchange	exchange	NOUN
dem-15776	175	22	rate	rate	NOUN
dem-15776	175	23	,	,	PUNCT
dem-15776	175	24	the	the	DET
dem-15776	175	25	price	price	NOUN
dem-15776	175	26	level	level	NOUN
dem-15776	175	27	and	and	CCONJ
dem-15776	175	28	the	the	DET
dem-15776	175	29	interest	interest	NOUN
dem-15776	175	30	rate	rate	NOUN
dem-15776	175	31	seem	seem	VERB
dem-15776	175	32	to	to	PART
dem-15776	175	33	have	have	VERB
dem-15776	175	34	some	some	DET
dem-15776	175	35	effect	effect	NOUN
dem-15776	175	36	on	on	ADP
dem-15776	175	37	stock	stock	NOUN
dem-15776	175	38	price	price	NOUN
dem-15776	175	39	variation	variation	NOUN
dem-15776	175	40	as	as	ADV
dem-15776	175	41	well	well	ADV
dem-15776	175	42	.	.	PUNCT
dem-15776	176	1	references	reference	NOUN
dem-15776	176	2	abugri	abugri	PROPN
dem-15776	176	3	,	,	PUNCT
dem-15776	176	4	b.	b.	PROPN
dem-15776	176	5	a.	a.	PROPN
dem-15776	176	6	(	(	PUNCT
dem-15776	176	7	2008	2008	NUM
dem-15776	176	8	)	)	PUNCT
dem-15776	176	9	,	,	PUNCT
dem-15776	176	10	empirical	empirical	ADJ
dem-15776	176	11	relationship	relationship	NOUN
dem-15776	176	12	between	between	ADP
dem-15776	176	13	macroeconomic	macroeconomic	ADJ
dem-15776	176	14	volatility	volatility	NOUN
dem-15776	176	15	and	and	CCONJ
dem-15776	176	16	stock	stock	NOUN
dem-15776	176	17	returns	return	NOUN
dem-15776	176	18	:	:	PUNCT
dem-15776	176	19	evidence	evidence	NOUN
dem-15776	176	20	from	from	ADP
dem-15776	176	21	latin	latin	ADJ
dem-15776	176	22	american	american	ADJ
dem-15776	176	23	markets	market	NOUN
dem-15776	176	24	,	,	PUNCT
dem-15776	176	25	international	international	ADJ
dem-15776	176	26	review	review	NOUN
dem-15776	176	27	of	of	ADP
dem-15776	176	28	financial	financial	ADJ
dem-15776	176	29	analysis	analysis	NOUN
dem-15776	176	30	,	,	PUNCT
dem-15776	176	31	17	17	NUM
dem-15776	176	32	,	,	PUNCT
dem-15776	176	33	396–410	396–410	NUM
dem-15776	176	34	,	,	PUNCT
dem-15776	176	35	doi	doi	NOUN
dem-15776	176	36	:	:	PUNCT
dem-15776	176	37	https://doi.org/10.1016/j.irfa.2006.09.002	https://doi.org/10.1016/j.irfa.2006.09.002	NOUN
dem-15776	176	38	.	.	PUNCT
dem-15776	177	1	al	al	PROPN
dem-15776	177	2	-	-	PUNCT
dem-15776	177	3	tamimi	tamimi	PROPN
dem-15776	177	4	,	,	PUNCT
dem-15776	177	5	h.	h.	PROPN
dem-15776	177	6	a.	a.	PROPN
dem-15776	177	7	,	,	PUNCT
dem-15776	177	8	alwan	alwan	PROPN
dem-15776	177	9	,	,	PUNCT
dem-15776	177	10	a.	a.	NOUN
dem-15776	177	11	a.	a.	PROPN
dem-15776	177	12	and	and	CCONJ
dem-15776	177	13	rahman	rahman	PROPN
dem-15776	177	14	,	,	PUNCT
dem-15776	177	15	a.	a.	NOUN
dem-15776	177	16	a.	a.	NOUN
dem-15776	177	17	(	(	PUNCT
dem-15776	177	18	2011	2011	NUM
dem-15776	177	19	)	)	PUNCT
dem-15776	177	20	,	,	PUNCT
dem-15776	177	21	factors	factor	NOUN
dem-15776	177	22	affecting	affect	VERB
dem-15776	177	23	stock	stock	NOUN
dem-15776	177	24	prices	price	NOUN
dem-15776	177	25	in	in	ADP
dem-15776	177	26	the	the	DET
dem-15776	177	27	uae	uae	PROPN
dem-15776	177	28	financial	financial	ADJ
dem-15776	177	29	markets	market	NOUN
dem-15776	177	30	,	,	PUNCT
dem-15776	177	31	journal	journal	NOUN
dem-15776	177	32	of	of	ADP
dem-15776	177	33	transnational	transnational	ADJ
dem-15776	177	34	management	management	NOUN
dem-15776	177	35	,	,	PUNCT
dem-15776	177	36	16	16	NUM
dem-15776	177	37	,	,	PUNCT
dem-15776	177	38	3–19	3–19	NOUN
dem-15776	177	39	,	,	PUNCT
dem-15776	177	40	doi	doi	NOUN
dem-15776	177	41	:	:	PUNCT
dem-15776	177	42	https://doi.org/10.1080/15475778.2011.549441	https://doi.org/10.1080/15475778.2011.549441	PROPN
dem-15776	177	43	.	.	PUNCT
dem-15776	178	1	andreou	andreou	PROPN
dem-15776	178	2	,	,	PUNCT
dem-15776	178	3	e.	e.	PROPN
dem-15776	178	4	,	,	PUNCT
dem-15776	178	5	ghysels	ghysels	PROPN
dem-15776	178	6	,	,	PUNCT
dem-15776	178	7	e.	e.	PROPN
dem-15776	178	8	and	and	CCONJ
dem-15776	178	9	kourtellos	kourtellos	PROPN
dem-15776	178	10	,	,	PUNCT
dem-15776	178	11	a.	a.	NOUN
dem-15776	178	12	(	(	PUNCT
dem-15776	178	13	2013	2013	NUM
dem-15776	178	14	)	)	PUNCT
dem-15776	178	15	,	,	PUNCT
dem-15776	178	16	should	should	AUX
dem-15776	178	17	macroeconomic	macroeconomic	ADJ
dem-15776	178	18	forecasters	forecaster	NOUN
dem-15776	178	19	usedaily	usedaily	ADV
dem-15776	178	20	financial	financial	ADJ
dem-15776	178	21	data	datum	NOUN
dem-15776	178	22	and	and	CCONJ
dem-15776	178	23	how	how	SCONJ
dem-15776	178	24	?	?	PUNCT
dem-15776	179	1	journal	journal	NOUN
dem-15776	179	2	of	of	ADP
dem-15776	179	3	business	business	NOUN
dem-15776	179	4	and	and	CCONJ
dem-15776	179	5	economic	economic	ADJ
dem-15776	179	6	statistics	statistic	NOUN
dem-15776	179	7	,	,	PUNCT
dem-15776	179	8	31	31	NUM
dem-15776	179	9	,	,	PUNCT
dem-15776	179	10	240–251	240–251	NUM
dem-15776	179	11	,	,	PUNCT
dem-15776	179	12	doi	doi	NOUN
dem-15776	179	13	:	:	PUNCT
dem-15776	179	14	https://doi.org/10.1080/07350015.2013.767199	https://doi.org/10.1080/07350015.2013.767199	PROPN
dem-15776	179	15	.	.	PUNCT
dem-15776	180	1	castle	castle	PROPN
dem-15776	180	2	,	,	PUNCT
dem-15776	180	3	j.	j.	PROPN
dem-15776	180	4	l.	l.	PROPN
dem-15776	180	5	and	and	CCONJ
dem-15776	180	6	hendry	hendry	PROPN
dem-15776	180	7	,	,	PUNCT
dem-15776	180	8	d.	d.	PROPN
dem-15776	180	9	f.	f.	PROPN
dem-15776	180	10	(	(	PUNCT
dem-15776	180	11	2010	2010	NUM
dem-15776	180	12	)	)	PUNCT
dem-15776	180	13	,	,	PUNCT
dem-15776	180	14	a	a	DET
dem-15776	180	15	low	low	ADJ
dem-15776	180	16	-	-	PUNCT
dem-15776	180	17	dimension	dimension	NOUN
dem-15776	180	18	portmanteau	portmanteau	NOUN
dem-15776	180	19	test	test	NOUN
dem-15776	180	20	for	for	ADP
dem-15776	180	21	nonlinearity	nonlinearity	NOUN
dem-15776	180	22	,	,	PUNCT
dem-15776	180	23	journal	journal	NOUN
dem-15776	180	24	of	of	ADP
dem-15776	180	25	econometrics	econometric	NOUN
dem-15776	180	26	,	,	PUNCT
dem-15776	180	27	158	158	NUM
dem-15776	180	28	,	,	PUNCT
dem-15776	180	29	231–245	231–245	NUM
dem-15776	180	30	,	,	PUNCT
dem-15776	180	31	doi	doi	NOUN
dem-15776	180	32	:	:	PUNCT
dem-15776	180	33	https://doi.org/10.1016/j.jeconom.2010.01.006	https://doi.org/10.1016/j.jeconom.2010.01.006	PROPN
dem-15776	180	34	.	.	PUNCT
dem-15776	181	1	chen	chen	PROPN
dem-15776	181	2	,	,	PUNCT
dem-15776	181	3	n.	n.	PROPN
dem-15776	181	4	f.	f.	PROPN
dem-15776	181	5	roll	roll	PROPN
dem-15776	181	6	,	,	PUNCT
dem-15776	181	7	r.	r.	PROPN
dem-15776	181	8	and	and	CCONJ
dem-15776	181	9	ross	ross	PROPN
dem-15776	181	10	,	,	PUNCT
dem-15776	181	11	s.	s.	PROPN
dem-15776	181	12	a.	a.	PROPN
dem-15776	181	13	(	(	PUNCT
dem-15776	181	14	1986	1986	NUM
dem-15776	181	15	)	)	PUNCT
dem-15776	181	16	,	,	PUNCT
dem-15776	181	17	economic	economic	ADJ
dem-15776	181	18	forces	force	NOUN
dem-15776	181	19	and	and	CCONJ
dem-15776	181	20	the	the	DET
dem-15776	181	21	stock	stock	NOUN
dem-15776	181	22	market	market	NOUN
dem-15776	181	23	,	,	PUNCT
dem-15776	181	24	journal	journal	NOUN
dem-15776	181	25	of	of	ADP
dem-15776	181	26	business	business	NOUN
dem-15776	181	27	,	,	PUNCT
dem-15776	181	28	59	59	NUM
dem-15776	181	29	,	,	PUNCT
dem-15776	181	30	383–403	383–403	NUM
dem-15776	181	31	,	,	PUNCT
dem-15776	181	32	doi	doi	NOUN
dem-15776	181	33	:	:	PUNCT
dem-15776	181	34	https://www.jstor.org/stable/2352710	https://www.jstor.org/stable/2352710	PROPN
dem-15776	181	35	.	.	PUNCT
dem-15776	182	1	defina	defina	PROPN
dem-15776	182	2	,	,	PUNCT
dem-15776	182	3	r.	r.	PROPN
dem-15776	182	4	h.	h.	PROPN
dem-15776	182	5	(	(	PUNCT
dem-15776	182	6	1991	1991	NUM
dem-15776	182	7	)	)	PUNCT
dem-15776	182	8	,	,	PUNCT
dem-15776	182	9	does	do	AUX
dem-15776	182	10	inflation	inflation	NOUN
dem-15776	182	11	depress	depress	VERB
dem-15776	182	12	the	the	DET
dem-15776	182	13	stock	stock	NOUN
dem-15776	182	14	market	market	NOUN
dem-15776	182	15	?	?	PUNCT
dem-15776	183	1	federal	federal	PROPN
dem-15776	183	2	reserve	reserve	PROPN
dem-15776	183	3	bank	bank	PROPN
dem-15776	183	4	of	of	ADP
dem-15776	183	5	philadelphia	philadelphia	PROPN
dem-15776	183	6	business	business	PROPN
dem-15776	183	7	review	review	NOUN
dem-15776	183	8	,	,	PUNCT
dem-15776	183	9	17	17	NUM
dem-15776	183	10	,	,	PUNCT
dem-15776	183	11	3–12	3–12	NUM
dem-15776	183	12	,	,	PUNCT
dem-15776	183	13	doi	doi	NOUN
dem-15776	183	14	:	:	PUNCT
dem-15776	183	15	https://www.phil.frb.org	https://www.phil.frb.org	X
dem-15776	183	16	.	.	PUNCT
dem-15776	184	1	dhakal	dhakal	PROPN
dem-15776	184	2	,	,	PUNCT
dem-15776	184	3	d.	d.	PROPN
dem-15776	184	4	,	,	PUNCT
dem-15776	184	5	kandil	kandil	PROPN
dem-15776	184	6	,	,	PUNCT
dem-15776	184	7	m.	m.	NOUN
dem-15776	184	8	and	and	CCONJ
dem-15776	184	9	sharma	sharma	PROPN
dem-15776	184	10	,	,	PUNCT
dem-15776	184	11	s.	s.	PROPN
dem-15776	184	12	c.	c.	PROPN
dem-15776	184	13	(	(	PUNCT
dem-15776	184	14	1993	1993	NUM
dem-15776	184	15	)	)	PUNCT
dem-15776	184	16	,	,	PUNCT
dem-15776	184	17	causality	causality	NOUN
dem-15776	184	18	between	between	ADP
dem-15776	184	19	the	the	DET
dem-15776	184	20	money	money	NOUN
dem-15776	184	21	supply	supply	NOUN
dem-15776	184	22	and	and	CCONJ
dem-15776	184	23	share	share	NOUN
dem-15776	184	24	prices	price	NOUN
dem-15776	184	25	:	:	PUNCT
dem-15776	184	26	a	a	DET
dem-15776	184	27	var	var	NOUN
dem-15776	184	28	investigation	investigation	NOUN
dem-15776	184	29	,	,	PUNCT
dem-15776	184	30	quarterly	quarterly	ADJ
dem-15776	184	31	journal	journal	NOUN
dem-15776	184	32	of	of	ADP
dem-15776	184	33	business	business	NOUN
dem-15776	184	34	and	and	CCONJ
dem-15776	184	35	economics	economic	NOUN
dem-15776	184	36	,	,	PUNCT
dem-15776	184	37	32	32	NUM
dem-15776	184	38	,	,	PUNCT
dem-15776	184	39	52–74	52–74	NUM
dem-15776	184	40	,	,	PUNCT
dem-15776	184	41	doi	doi	NOUN
dem-15776	184	42	:	:	PUNCT
dem-15776	184	43	https://www.jstor.org/stable/40473092	https://www.jstor.org/stable/40473092	PROPN
dem-15776	184	44	.	.	PUNCT
dem-15776	184	45	fama	fama	PROPN
dem-15776	184	46	,	,	PUNCT
dem-15776	184	47	e.	e.	PROPN
dem-15776	184	48	f.	f.	PROPN
dem-15776	184	49	(	(	PUNCT
dem-15776	184	50	1981	1981	NUM
dem-15776	184	51	)	)	PUNCT
dem-15776	184	52	,	,	PUNCT
dem-15776	184	53	stock	stock	NOUN
dem-15776	184	54	returns	return	NOUN
dem-15776	184	55	,	,	PUNCT
dem-15776	184	56	real	real	ADJ
dem-15776	184	57	activity	activity	NOUN
dem-15776	184	58	,	,	PUNCT
dem-15776	184	59	inflation	inflation	NOUN
dem-15776	184	60	and	and	CCONJ
dem-15776	184	61	money	money	NOUN
dem-15776	184	62	,	,	PUNCT
dem-15776	184	63	american	american	PROPN
dem-15776	184	64	economic	economic	PROPN
dem-15776	184	65	review	review	PROPN
dem-15776	184	66	,	,	PUNCT
dem-15776	184	67	71	71	NUM
dem-15776	184	68	,	,	PUNCT
dem-15776	184	69	545–565	545–565	NUM
dem-15776	184	70	,	,	PUNCT
dem-15776	184	71	doi	doi	PROPN
dem-15776	184	72	:	:	PUNCT
dem-15776	184	73	https://www.jstor.org/stable/1806180	https://www.jstor.org/stable/1806180	PROPN
dem-15776	184	74	.	.	PUNCT
dem-15776	185	1	fama	fama	PROPN
dem-15776	185	2	,	,	PUNCT
dem-15776	185	3	e.	e.	PROPN
dem-15776	185	4	f.	f.	PROPN
dem-15776	185	5	,	,	PUNCT
dem-15776	185	6	and	and	CCONJ
dem-15776	185	7	schwert	schwert	PROPN
dem-15776	185	8	,	,	PUNCT
dem-15776	185	9	g.	g.	PROPN
dem-15776	185	10	w.	w.	PROPN
dem-15776	185	11	(	(	PUNCT
dem-15776	185	12	1977	1977	NUM
dem-15776	185	13	)	)	PUNCT
dem-15776	185	14	,	,	PUNCT
dem-15776	185	15	human	human	ADJ
dem-15776	185	16	capital	capital	NOUN
dem-15776	185	17	and	and	CCONJ
dem-15776	185	18	capital	capital	NOUN
dem-15776	185	19	market	market	NOUN
dem-15776	185	20	equilibrium	equilibrium	NOUN
dem-15776	185	21	,	,	PUNCT
dem-15776	185	22	journal	journal	NOUN
dem-15776	185	23	of	of	ADP
dem-15776	185	24	financial	financial	ADJ
dem-15776	185	25	economics	economic	NOUN
dem-15776	185	26	,	,	PUNCT
dem-15776	185	27	4	4	NUM
dem-15776	185	28	,	,	PUNCT
dem-15776	185	29	95–125	95–125	NUM
dem-15776	185	30	,	,	PUNCT
dem-15776	185	31	doi	doi	NOUN
dem-15776	185	32	:	:	PUNCT
dem-15776	185	33	https://doi.org/10.1016/0304-405x(77)90038-1	https://doi.org/10.1016/0304-405x(77)90038-1	PROPN
dem-15776	185	34	.	.	PUNCT
dem-15776	185	35	fama	fama	PROPN
dem-15776	185	36	,	,	PUNCT
dem-15776	185	37	e.	e.	PROPN
dem-15776	185	38	f.	f.	PROPN
dem-15776	185	39	(	(	PUNCT
dem-15776	185	40	1990	1990	NUM
dem-15776	185	41	)	)	PUNCT
dem-15776	185	42	,	,	PUNCT
dem-15776	185	43	stock	stock	NOUN
dem-15776	185	44	returns	return	NOUN
dem-15776	185	45	,	,	PUNCT
dem-15776	185	46	expected	expect	VERB
dem-15776	185	47	returns	return	NOUN
dem-15776	185	48	,	,	PUNCT
dem-15776	185	49	and	and	CCONJ
dem-15776	185	50	real	real	ADJ
dem-15776	185	51	activity	activity	NOUN
dem-15776	185	52	,	,	PUNCT
dem-15776	185	53	journal	journal	NOUN
dem-15776	185	54	of	of	ADP
dem-15776	185	55	finance	finance	NOUN
dem-15776	185	56	,	,	PUNCT
dem-15776	185	57	45	45	NUM
dem-15776	185	58	,	,	PUNCT
dem-15776	185	59	1089–1108	1089–1108	NUM
dem-15776	185	60	,	,	PUNCT
dem-15776	185	61	doi	doi	NOUN
dem-15776	185	62	:	:	PUNCT
dem-15776	185	63	https://www.jstor.org/stable/2328716	https://www.jstor.org/stable/2328716	NOUN
dem-15776	185	64	.	.	PUNCT
dem-15776	186	1	https://doi.org/10.1016/j.irfa.2006.09.002	https://doi.org/10.1016/j.irfa.2006.09.002	NOUN
dem-15776	186	2	https://doi.org/10.1080/15475778.2011.549441	https://doi.org/10.1080/15475778.2011.549441	PROPN
dem-15776	186	3	https://doi.org/10.1080/07350015.2013.767199	https://doi.org/10.1080/07350015.2013.767199	PROPN
dem-15776	186	4	https://doi.org/10.1016/j.jeconom.2010.01.006	https://doi.org/10.1016/j.jeconom.2010.01.006	PROPN
dem-15776	186	5	https://www.jstor.org/stable/2352710?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/2352710?seq=1#page_scan_tab_content	NOUN
dem-15776	186	6	https://www.phil.frb.org/-/media/research-and-data/publications/business-review/1991/brnd91rd.pdf	https://www.phil.frb.org/-/media/research-and-data/publications/business-review/1991/brnd91rd.pdf	PROPN
dem-15776	186	7	https://www.jstor.org/stable/40473092?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/40473092?seq=1#page_scan_tab_content	NOUN
dem-15776	186	8	https://www.jstor.org/stable/1806180?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/1806180?seq=1#page_scan_tab_content	NOUN
dem-15776	186	9	https://doi.org/10.1016/0304-405x(77)90038-1	https://doi.org/10.1016/0304-405x(77)90038-1	PROPN
dem-15776	186	10	https://www.jstor.org/stable/2328716?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/2328716?seq=1#page_scan_tab_content	NOUN
dem-15776	186	11	kamal	kamal	PROPN
dem-15776	186	12	p.	p.	PROPN
dem-15776	186	13	upadhyaya	upadhyaya	PROPN
dem-15776	186	14	,	,	PUNCT
dem-15776	186	15	raja	raja	PROPN
dem-15776	186	16	nag	nag	PROPN
dem-15776	187	1	and	and	CCONJ
dem-15776	187	2	franklin	franklin	PROPN
dem-15776	187	3	g.	g.	PROPN
dem-15776	187	4	mixon	mixon	PROPN
dem-15776	187	5	,	,	PUNCT
dem-15776	187	6	jr	jr	PROPN
dem-15776	187	7	.	.	PROPN
dem-15776	187	8	dynamic	dynamic	ADJ
dem-15776	187	9	econometric	econometric	ADJ
dem-15776	187	10	models	model	NOUN
dem-15776	187	11	18	18	NUM
dem-15776	187	12	(	(	PUNCT
dem-15776	187	13	2018	2018	NUM
dem-15776	187	14	)	)	PUNCT
dem-15776	187	15	35–47	35–47	NUM
dem-15776	187	16	46	46	NUM
dem-15776	187	17	geise	geise	NOUN
dem-15776	187	18	,	,	PUNCT
dem-15776	187	19	a.	a.	NOUN
dem-15776	187	20	and	and	CCONJ
dem-15776	187	21	piłatowska	piłatowska	PROPN
dem-15776	187	22	,	,	PUNCT
dem-15776	187	23	m.	m.	NOUN
dem-15776	187	24	(	(	PUNCT
dem-15776	187	25	2016	2016	NUM
dem-15776	187	26	)	)	PUNCT
dem-15776	187	27	,	,	PUNCT
dem-15776	187	28	asymmetries	asymmetry	NOUN
dem-15776	187	29	in	in	ADP
dem-15776	187	30	the	the	DET
dem-15776	187	31	relationship	relationship	NOUN
dem-15776	187	32	between	between	ADP
dem-15776	187	33	economic	economic	ADJ
dem-15776	187	34	activity	activity	NOUN
dem-15776	187	35	and	and	CCONJ
dem-15776	187	36	oil	oil	NOUN
dem-15776	187	37	prices	price	NOUN
dem-15776	187	38	in	in	ADP
dem-15776	187	39	the	the	DET
dem-15776	187	40	selected	select	VERB
dem-15776	187	41	eu	eu	PROPN
dem-15776	187	42	countries	country	NOUN
dem-15776	187	43	,	,	PUNCT
dem-15776	187	44	dynamic	dynamic	ADJ
dem-15776	187	45	econometric	econometric	ADJ
dem-15776	187	46	models	model	NOUN
dem-15776	187	47	16	16	NUM
dem-15776	187	48	,	,	PUNCT
dem-15776	187	49	65–86	65–86	NUM
dem-15776	187	50	,	,	PUNCT
dem-15776	187	51	doi	doi	NOUN
dem-15776	187	52	:	:	PUNCT
dem-15776	187	53	http://dx.doi.org/10.12775/dem.2016.004	http://dx.doi.org/10.12775/dem.2016.004	NOUN
dem-15776	187	54	.	.	PUNCT
dem-15776	188	1	geske	geske	PROPN
dem-15776	188	2	,	,	PUNCT
dem-15776	188	3	r.	r.	PROPN
dem-15776	188	4	and	and	CCONJ
dem-15776	188	5	roll	roll	PROPN
dem-15776	188	6	,	,	PUNCT
dem-15776	188	7	r.	r.	PROPN
dem-15776	188	8	(	(	PUNCT
dem-15776	188	9	1983	1983	NUM
dem-15776	188	10	)	)	PUNCT
dem-15776	188	11	,	,	PUNCT
dem-15776	188	12	the	the	DET
dem-15776	188	13	fiscal	fiscal	ADJ
dem-15776	188	14	and	and	CCONJ
dem-15776	188	15	monetary	monetary	ADJ
dem-15776	188	16	linkage	linkage	NOUN
dem-15776	188	17	between	between	ADP
dem-15776	188	18	stock	stock	NOUN
dem-15776	188	19	returns	return	NOUN
dem-15776	188	20	and	and	CCONJ
dem-15776	188	21	inflation	inflation	NOUN
dem-15776	188	22	,	,	PUNCT
dem-15776	188	23	journal	journal	NOUN
dem-15776	188	24	of	of	ADP
dem-15776	188	25	finance	finance	NOUN
dem-15776	188	26	,	,	PUNCT
dem-15776	188	27	38	38	NUM
dem-15776	188	28	,	,	PUNCT
dem-15776	188	29	1–33	1–33	NUM
dem-15776	188	30	,	,	PUNCT
dem-15776	188	31	doi	doi	NOUN
dem-15776	188	32	:	:	PUNCT
dem-15776	188	33	https://doi.org/10.1111/j.1540-6261.1983.tb03623.x	https://doi.org/10.1111/j.1540-6261.1983.tb03623.x	PROPN
dem-15776	188	34	.	.	PUNCT
dem-15776	188	35	huang	huang	PROPN
dem-15776	188	36	,	,	PUNCT
dem-15776	188	37	r.	r.	PROPN
dem-15776	188	38	d.	d.	PROPN
dem-15776	188	39	and	and	CCONJ
dem-15776	188	40	kracaw	kracaw	PROPN
dem-15776	188	41	,	,	PUNCT
dem-15776	188	42	w.	w.	PROPN
dem-15776	188	43	a.	a.	PROPN
dem-15776	188	44	(	(	PUNCT
dem-15776	188	45	1984	1984	NUM
dem-15776	188	46	)	)	PUNCT
dem-15776	188	47	,	,	PUNCT
dem-15776	188	48	stock	stock	NOUN
dem-15776	188	49	market	market	NOUN
dem-15776	188	50	returns	return	NOUN
dem-15776	188	51	and	and	CCONJ
dem-15776	188	52	real	real	ADJ
dem-15776	188	53	activity	activity	NOUN
dem-15776	188	54	:	:	PUNCT
dem-15776	188	55	a	a	DET
dem-15776	188	56	note	note	NOUN
dem-15776	188	57	,	,	PUNCT
dem-15776	188	58	journal	journal	NOUN
dem-15776	188	59	of	of	ADP
dem-15776	188	60	finance	finance	NOUN
dem-15776	188	61	,	,	PUNCT
dem-15776	188	62	39	39	NUM
dem-15776	188	63	,	,	PUNCT
dem-15776	188	64	267–273	267–273	NUM
dem-15776	188	65	,	,	PUNCT
dem-15776	188	66	doi	doi	NOUN
dem-15776	188	67	:	:	PUNCT
dem-15776	188	68	https://www.jstor.org/stable/2327683	https://www.jstor.org/stable/2327683	NOUN
dem-15776	188	69	.	.	PUNCT
dem-15776	189	1	humpe	humpe	PROPN
dem-15776	189	2	,	,	PUNCT
dem-15776	189	3	a.	a.	NOUN
dem-15776	189	4	and	and	CCONJ
dem-15776	189	5	macmillan	macmillan	PROPN
dem-15776	189	6	,	,	PUNCT
dem-15776	189	7	p.	p.	NOUN
dem-15776	189	8	(	(	PUNCT
dem-15776	189	9	2009	2009	NUM
dem-15776	189	10	)	)	PUNCT
dem-15776	189	11	,	,	PUNCT
dem-15776	189	12	can	can	AUX
dem-15776	189	13	macroeconomic	macroeconomic	ADJ
dem-15776	189	14	variables	variable	NOUN
dem-15776	189	15	explain	explain	VERB
dem-15776	189	16	long	long	ADJ
dem-15776	189	17	–	–	PUNCT
dem-15776	189	18	term	term	NOUN
dem-15776	189	19	stock	stock	NOUN
dem-15776	189	20	market	market	NOUN
dem-15776	189	21	movements	movement	NOUN
dem-15776	189	22	?	?	PUNCT
dem-15776	190	1	a	a	DET
dem-15776	190	2	comparison	comparison	NOUN
dem-15776	190	3	of	of	ADP
dem-15776	190	4	the	the	DET
dem-15776	190	5	us	us	PROPN
dem-15776	190	6	and	and	CCONJ
dem-15776	190	7	japan	japan	PROPN
dem-15776	190	8	,	,	PUNCT
dem-15776	190	9	applied	apply	VERB
dem-15776	190	10	financial	financial	ADJ
dem-15776	190	11	economics	economic	NOUN
dem-15776	190	12	,	,	PUNCT
dem-15776	190	13	19	19	NUM
dem-15776	190	14	,	,	PUNCT
dem-15776	190	15	111–119	111–119	NUM
dem-15776	190	16	,	,	PUNCT
dem-15776	190	17	doi	doi	NOUN
dem-15776	190	18	:	:	PUNCT
dem-15776	190	19	https://doi.org/10.1080/09603100701748956	https://doi.org/10.1080/09603100701748956	PROPN
dem-15776	190	20	.	.	PUNCT
dem-15776	191	1	johansen	johansen	PROPN
dem-15776	191	2	,	,	PUNCT
dem-15776	191	3	s.	s.	PROPN
dem-15776	191	4	(	(	PUNCT
dem-15776	191	5	1988	1988	NUM
dem-15776	191	6	)	)	PUNCT
dem-15776	191	7	,	,	PUNCT
dem-15776	191	8	statistical	statistical	ADJ
dem-15776	191	9	analysis	analysis	NOUN
dem-15776	191	10	of	of	ADP
dem-15776	191	11	cointegration	cointegration	NOUN
dem-15776	191	12	vectors	vector	NOUN
dem-15776	191	13	,	,	PUNCT
dem-15776	191	14	journal	journal	NOUN
dem-15776	191	15	of	of	ADP
dem-15776	191	16	economic	economic	ADJ
dem-15776	191	17	dynamics	dynamic	NOUN
dem-15776	191	18	and	and	CCONJ
dem-15776	191	19	control	control	NOUN
dem-15776	191	20	,	,	PUNCT
dem-15776	191	21	12	12	NUM
dem-15776	191	22	,	,	PUNCT
dem-15776	191	23	231–254	231–254	NUM
dem-15776	191	24	,	,	PUNCT
dem-15776	191	25	doi	doi	NOUN
dem-15776	191	26	:	:	PUNCT
dem-15776	191	27	https://doi.org/10.1016/0165-1889(88)90041-3	https://doi.org/10.1016/0165-1889(88)90041-3	PROPN
dem-15776	191	28	.	.	PROPN
dem-15776	191	29	johansen	johansen	PROPN
dem-15776	191	30	,	,	PUNCT
dem-15776	191	31	s.	s.	PROPN
dem-15776	191	32	(	(	PUNCT
dem-15776	191	33	1991	1991	NUM
dem-15776	191	34	)	)	PUNCT
dem-15776	191	35	,	,	PUNCT
dem-15776	191	36	estimation	estimation	NOUN
dem-15776	191	37	and	and	CCONJ
dem-15776	191	38	hypothesis	hypothesis	NOUN
dem-15776	191	39	testing	testing	NOUN
dem-15776	191	40	of	of	ADP
dem-15776	191	41	cointegration	cointegration	NOUN
dem-15776	191	42	vectors	vector	NOUN
dem-15776	191	43	in	in	ADP
dem-15776	191	44	gaussian	gaussian	ADJ
dem-15776	191	45	vector	vector	NOUN
dem-15776	191	46	autoregressive	autoregressive	ADJ
dem-15776	191	47	models	model	NOUN
dem-15776	191	48	,	,	PUNCT
dem-15776	191	49	econometrica	econometrica	PROPN
dem-15776	191	50	,	,	PUNCT
dem-15776	191	51	59,1551–1580	59,1551–1580	NUM
dem-15776	191	52	,	,	PUNCT
dem-15776	191	53	doi	doi	NOUN
dem-15776	191	54	:	:	PUNCT
dem-15776	191	55	https://www.jstor.org/stable/2938278	https://www.jstor.org/stable/2938278	NOUN
dem-15776	191	56	.	.	PUNCT
dem-15776	192	1	johansen	johansen	PROPN
dem-15776	192	2	,	,	PUNCT
dem-15776	192	3	s.	s.	PROPN
dem-15776	192	4	and	and	CCONJ
dem-15776	192	5	juselius	juselius	PROPN
dem-15776	192	6	,	,	PUNCT
dem-15776	192	7	k.	k.	PROPN
dem-15776	192	8	(	(	PUNCT
dem-15776	192	9	1990	1990	NUM
dem-15776	192	10	)	)	PUNCT
dem-15776	192	11	,	,	PUNCT
dem-15776	192	12	maximum	maximum	ADJ
dem-15776	192	13	likelihood	likelihood	NOUN
dem-15776	192	14	estimation	estimation	NOUN
dem-15776	192	15	and	and	CCONJ
dem-15776	192	16	inference	inference	NOUN
dem-15776	192	17	on	on	ADP
dem-15776	192	18	cointegration	cointegration	NOUN
dem-15776	192	19	—	—	PUNCT
dem-15776	192	20	with	with	ADP
dem-15776	192	21	applications	application	NOUN
dem-15776	192	22	to	to	ADP
dem-15776	192	23	the	the	DET
dem-15776	192	24	demand	demand	NOUN
dem-15776	192	25	for	for	ADP
dem-15776	192	26	money	money	NOUN
dem-15776	192	27	,	,	PUNCT
dem-15776	192	28	oxford	oxford	ADJ
dem-15776	192	29	bulletin	bulletin	NOUN
dem-15776	192	30	of	of	ADP
dem-15776	192	31	economics	economic	NOUN
dem-15776	192	32	and	and	CCONJ
dem-15776	192	33	statistics	statistic	NOUN
dem-15776	192	34	,	,	PUNCT
dem-15776	192	35	52	52	NUM
dem-15776	192	36	,	,	PUNCT
dem-15776	192	37	169–210	169–210	NUM
dem-15776	192	38	,	,	PUNCT
dem-15776	192	39	doi	doi	NOUN
dem-15776	192	40	:	:	PUNCT
dem-15776	192	41	https://doi.org/10.1111/j.1468-0084.1990.mp52002003.x	https://doi.org/10.1111/j.1468-0084.1990.mp52002003.x	PROPN
dem-15776	192	42	.	.	PROPN
dem-15776	192	43	kwon	kwon	PROPN
dem-15776	192	44	,	,	PUNCT
dem-15776	192	45	c.	c.	PROPN
dem-15776	192	46	s.	s.	PROPN
dem-15776	192	47	,	,	PUNCT
dem-15776	192	48	shin	shin	NOUN
dem-15776	192	49	,	,	PUNCT
dem-15776	192	50	t.	t.	PROPN
dem-15776	192	51	s.	s.	PROPN
dem-15776	192	52	and	and	CCONJ
dem-15776	192	53	bacon	bacon	PROPN
dem-15776	192	54	,	,	PUNCT
dem-15776	192	55	f.	f.	PROPN
dem-15776	192	56	w.	w.	PROPN
dem-15776	192	57	(	(	PUNCT
dem-15776	192	58	1997	1997	NUM
dem-15776	192	59	)	)	PUNCT
dem-15776	192	60	,	,	PUNCT
dem-15776	192	61	the	the	DET
dem-15776	192	62	effect	effect	NOUN
dem-15776	192	63	of	of	ADP
dem-15776	192	64	macroeconomic	macroeconomic	ADJ
dem-15776	192	65	variables	variable	NOUN
dem-15776	192	66	on	on	ADP
dem-15776	192	67	stock	stock	NOUN
dem-15776	192	68	market	market	NOUN
dem-15776	192	69	returns	return	NOUN
dem-15776	192	70	in	in	ADP
dem-15776	192	71	developing	develop	VERB
dem-15776	192	72	markets	market	NOUN
dem-15776	192	73	,	,	PUNCT
dem-15776	192	74	multinational	multinational	ADJ
dem-15776	192	75	business	business	NOUN
dem-15776	192	76	review	review	NOUN
dem-15776	192	77	,	,	PUNCT
dem-15776	192	78	5	5	NUM
dem-15776	192	79	,	,	PUNCT
dem-15776	192	80	63–73	63–73	NUM
dem-15776	192	81	,	,	PUNCT
dem-15776	192	82	doi	doi	NOUN
dem-15776	192	83	:	:	PUNCT
dem-15776	192	84	https://www.questia.com/library/journal/1p3-16999247	https://www.questia.com/library/journal/1p3-16999247	NUM
dem-15776	192	85	.	.	PUNCT
dem-15776	193	1	maysami	maysami	PROPN
dem-15776	193	2	,	,	PUNCT
dem-15776	193	3	r.	r.	PROPN
dem-15776	193	4	c.	c.	PROPN
dem-15776	193	5	and	and	CCONJ
dem-15776	193	6	koh	koh	PROPN
dem-15776	193	7	,	,	PUNCT
dem-15776	193	8	t.	t.	PROPN
dem-15776	193	9	s.	s.	PROPN
dem-15776	193	10	(	(	PUNCT
dem-15776	193	11	2000	2000	NUM
dem-15776	193	12	)	)	PUNCT
dem-15776	193	13	,	,	PUNCT
dem-15776	193	14	a	a	DET
dem-15776	193	15	vector	vector	NOUN
dem-15776	193	16	error	error	NOUN
dem-15776	193	17	correction	correction	NOUN
dem-15776	193	18	model	model	NOUN
dem-15776	193	19	for	for	ADP
dem-15776	193	20	the	the	DET
dem-15776	193	21	singapore	singapore	PROPN
dem-15776	193	22	stock	stock	NOUN
dem-15776	193	23	market	market	NOUN
dem-15776	193	24	,	,	PUNCT
dem-15776	193	25	international	international	ADJ
dem-15776	193	26	review	review	NOUN
dem-15776	193	27	of	of	ADP
dem-15776	193	28	economics	economic	NOUN
dem-15776	193	29	and	and	CCONJ
dem-15776	193	30	finance	finance	NOUN
dem-15776	193	31	,	,	PUNCT
dem-15776	193	32	9	9	NUM
dem-15776	193	33	,	,	PUNCT
dem-15776	193	34	79–96	79–96	NUM
dem-15776	193	35	,	,	PUNCT
dem-15776	193	36	doi	doi	NOUN
dem-15776	193	37	:	:	PUNCT
dem-15776	194	1	https://doi.org/10.1016/s1059-0560(99)00042-8	https://doi.org/10.1016/s1059-0560(99)00042-8	PROPN
dem-15776	194	2	.	.	PUNCT
dem-15776	195	1	mukherjee	mukherjee	PROPN
dem-15776	195	2	,	,	PUNCT
dem-15776	195	3	t.	t.	PROPN
dem-15776	195	4	k.	k.	PROPN
dem-15776	195	5	and	and	CCONJ
dem-15776	195	6	naka	naka	PROPN
dem-15776	195	7	,	,	PUNCT
dem-15776	195	8	a.	a.	NOUN
dem-15776	195	9	(	(	PUNCT
dem-15776	195	10	1995	1995	NUM
dem-15776	195	11	)	)	PUNCT
dem-15776	195	12	,	,	PUNCT
dem-15776	195	13	dynamic	dynamic	ADJ
dem-15776	195	14	relations	relation	NOUN
dem-15776	195	15	between	between	ADP
dem-15776	195	16	macroeconomic	macroeconomic	ADJ
dem-15776	195	17	variables	variable	NOUN
dem-15776	195	18	and	and	CCONJ
dem-15776	195	19	the	the	DET
dem-15776	195	20	japanese	japanese	ADJ
dem-15776	195	21	stock	stock	NOUN
dem-15776	195	22	market	market	NOUN
dem-15776	195	23	:	:	PUNCT
dem-15776	195	24	an	an	DET
dem-15776	195	25	application	application	NOUN
dem-15776	195	26	of	of	ADP
dem-15776	195	27	a	a	DET
dem-15776	195	28	vector	vector	NOUN
dem-15776	195	29	error	error	NOUN
dem-15776	195	30	correction	correction	NOUN
dem-15776	195	31	model	model	NOUN
dem-15776	195	32	,	,	PUNCT
dem-15776	195	33	journal	journal	NOUN
dem-15776	195	34	of	of	ADP
dem-15776	195	35	financial	financial	ADJ
dem-15776	195	36	research	research	NOUN
dem-15776	195	37	,	,	PUNCT
dem-15776	195	38	18	18	NUM
dem-15776	195	39	,	,	PUNCT
dem-15776	195	40	223–237	223–237	NUM
dem-15776	195	41	,	,	PUNCT
dem-15776	195	42	doi	doi	NOUN
dem-15776	195	43	:	:	PUNCT
dem-15776	195	44	https://doi.org/10.1111/j.1475-6803.1995.tb00563.x	https://doi.org/10.1111/j.1475-6803.1995.tb00563.x	PROPN
dem-15776	195	45	.	.	PUNCT
dem-15776	196	1	naka	naka	PROPN
dem-15776	196	2	,	,	PUNCT
dem-15776	196	3	a.	a.	NOUN
dem-15776	196	4	and	and	CCONJ
dem-15776	196	5	tufte	tufte	PROPN
dem-15776	196	6	,	,	PUNCT
dem-15776	196	7	d.	d.	NOUN
dem-15776	196	8	(	(	PUNCT
dem-15776	196	9	1997	1997	NUM
dem-15776	196	10	)	)	PUNCT
dem-15776	196	11	,	,	PUNCT
dem-15776	196	12	examining	examine	VERB
dem-15776	196	13	impulse	impulse	ADJ
dem-15776	196	14	response	response	NOUN
dem-15776	196	15	functions	function	NOUN
dem-15776	196	16	in	in	ADP
dem-15776	196	17	cointegrated	cointegrate	VERB
dem-15776	196	18	systems	system	NOUN
dem-15776	196	19	,	,	PUNCT
dem-15776	196	20	applied	apply	VERB
dem-15776	196	21	economics	economic	NOUN
dem-15776	196	22	,	,	PUNCT
dem-15776	196	23	29	29	NUM
dem-15776	196	24	,	,	PUNCT
dem-15776	196	25	1593–1603	1593–1603	NUM
dem-15776	196	26	,	,	PUNCT
dem-15776	196	27	doi	doi	NOUN
dem-15776	196	28	:	:	PUNCT
dem-15776	196	29	https://doi.org/10.1080/00036849700000035	https://doi.org/10.1080/00036849700000035	PROPN
dem-15776	196	30	.	.	PUNCT
dem-15776	197	1	perron	perron	PROPN
dem-15776	197	2	,	,	PUNCT
dem-15776	197	3	p.	p.	PROPN
dem-15776	197	4	(	(	PUNCT
dem-15776	197	5	1988	1988	NUM
dem-15776	197	6	)	)	PUNCT
dem-15776	197	7	,	,	PUNCT
dem-15776	197	8	trends	trend	NOUN
dem-15776	197	9	and	and	CCONJ
dem-15776	197	10	random	random	ADJ
dem-15776	197	11	walks	walk	NOUN
dem-15776	197	12	in	in	ADP
dem-15776	197	13	macroeconomic	macroeconomic	ADJ
dem-15776	197	14	time	time	NOUN
dem-15776	197	15	series	series	NOUN
dem-15776	197	16	:	:	PUNCT
dem-15776	197	17	further	further	ADJ
dem-15776	197	18	evidence	evidence	NOUN
dem-15776	197	19	from	from	ADP
dem-15776	197	20	a	a	DET
dem-15776	197	21	new	new	ADJ
dem-15776	197	22	approach	approach	NOUN
dem-15776	197	23	,	,	PUNCT
dem-15776	197	24	journal	journal	NOUN
dem-15776	197	25	of	of	ADP
dem-15776	197	26	economic	economic	ADJ
dem-15776	197	27	dynamics	dynamic	NOUN
dem-15776	197	28	and	and	CCONJ
dem-15776	197	29	control	control	NOUN
dem-15776	197	30	,	,	PUNCT
dem-15776	197	31	12	12	NUM
dem-15776	197	32	,	,	PUNCT
dem-15776	197	33	297–332	297–332	NUM
dem-15776	197	34	,	,	PUNCT
dem-15776	197	35	doi	doi	NOUN
dem-15776	197	36	:	:	PUNCT
dem-15776	197	37	https://doi.org/10.1016/0165-1889(88)90043-7	https://doi.org/10.1016/0165-1889(88)90043-7	PROPN
dem-15776	197	38	.	.	PUNCT
dem-15776	197	39	phillips	phillips	PROPN
dem-15776	197	40	,	,	PUNCT
dem-15776	197	41	p.	p.	PROPN
dem-15776	197	42	c.	c.	PROPN
dem-15776	197	43	b.	b.	PROPN
dem-15776	197	44	and	and	CCONJ
dem-15776	197	45	perron	perron	PROPN
dem-15776	197	46	,	,	PUNCT
dem-15776	197	47	p.	p.	NOUN
dem-15776	197	48	(	(	PUNCT
dem-15776	197	49	1988	1988	NUM
dem-15776	197	50	)	)	PUNCT
dem-15776	197	51	,	,	PUNCT
dem-15776	197	52	testing	test	VERB
dem-15776	197	53	for	for	ADP
dem-15776	197	54	a	a	DET
dem-15776	197	55	unit	unit	NOUN
dem-15776	197	56	root	root	NOUN
dem-15776	197	57	in	in	ADP
dem-15776	197	58	time	time	NOUN
dem-15776	197	59	series	series	PROPN
dem-15776	197	60	regression	regression	PROPN
dem-15776	197	61	,	,	PUNCT
dem-15776	197	62	biometrika	biometrika	NOUN
dem-15776	197	63	,	,	PUNCT
dem-15776	197	64	75	75	NUM
dem-15776	197	65	,	,	PUNCT
dem-15776	197	66	335–346	335–346	NUM
dem-15776	197	67	,	,	PUNCT
dem-15776	197	68	doi	doi	NOUN
dem-15776	197	69	:	:	PUNCT
dem-15776	198	1	https://www.jstor.org/stable/2336182	https://www.jstor.org/stable/2336182	PROPN
dem-15776	198	2	.	.	PUNCT
dem-15776	198	3	piłatowska	piłatowska	PROPN
dem-15776	198	4	,	,	PUNCT
dem-15776	198	5	m.	m.	NOUN
dem-15776	198	6	,	,	PUNCT
dem-15776	198	7	włodarczyk	włodarczyk	INTJ
dem-15776	198	8	,	,	PUNCT
dem-15776	198	9	a.	a.	NOUN
dem-15776	198	10	,	,	PUNCT
dem-15776	198	11	zawada	zawada	PROPN
dem-15776	198	12	,	,	PUNCT
dem-15776	198	13	m.	m.	NOUN
dem-15776	198	14	(	(	PUNCT
dem-15776	198	15	2014	2014	NUM
dem-15776	198	16	)	)	PUNCT
dem-15776	198	17	,	,	PUNCT
dem-15776	198	18	the	the	DET
dem-15776	198	19	environmental	environmental	ADJ
dem-15776	198	20	kuznets	kuznet	NOUN
dem-15776	198	21	curve	curve	NOUN
dem-15776	198	22	in	in	ADP
dem-15776	198	23	poland	poland	PROPN
dem-15776	198	24	–	–	PUNCT
dem-15776	198	25	evidence	evidence	NOUN
dem-15776	198	26	from	from	ADP
dem-15776	198	27	threshold	threshold	NOUN
dem-15776	198	28	cointegration	cointegration	NOUN
dem-15776	198	29	analysis	analysis	NOUN
dem-15776	198	30	,	,	PUNCT
dem-15776	198	31	dynamic	dynamic	ADJ
dem-15776	198	32	econometric	econometric	ADJ
dem-15776	198	33	models	model	NOUN
dem-15776	198	34	,	,	PUNCT
dem-15776	198	35	14	14	NUM
dem-15776	198	36	,	,	PUNCT
dem-15776	198	37	51–70	51–70	NUM
dem-15776	198	38	,	,	PUNCT
dem-15776	198	39	doi	doi	NOUN
dem-15776	198	40	:	:	PUNCT
dem-15776	198	41	http://dx.doi.org/10.12775/dem.2014.003	http://dx.doi.org/10.12775/dem.2014.003	PROPN
dem-15776	198	42	.	.	PROPN
dem-15776	198	43	said	say	VERB
dem-15776	198	44	e.	e.	PROPN
dem-15776	198	45	,	,	PUNCT
dem-15776	198	46	and	and	CCONJ
dem-15776	198	47	dickey	dickey	PROPN
dem-15776	198	48	,	,	PUNCT
dem-15776	198	49	d.	d.	PROPN
dem-15776	198	50	a.	a.	PROPN
dem-15776	198	51	(	(	PUNCT
dem-15776	198	52	1984	1984	NUM
dem-15776	198	53	)	)	PUNCT
dem-15776	198	54	,	,	PUNCT
dem-15776	198	55	testing	test	VERB
dem-15776	198	56	for	for	ADP
dem-15776	198	57	unit	unit	NOUN
dem-15776	198	58	roots	root	NOUN
dem-15776	198	59	in	in	ADP
dem-15776	198	60	autoregressive	autoregressive	ADJ
dem-15776	198	61	-	-	PUNCT
dem-15776	198	62	moving	move	VERB
dem-15776	198	63	average	average	ADJ
dem-15776	198	64	models	model	NOUN
dem-15776	198	65	of	of	ADP
dem-15776	198	66	unknown	unknown	ADJ
dem-15776	198	67	order	order	NOUN
dem-15776	198	68	,	,	PUNCT
dem-15776	198	69	biometrika	biometrika	NOUN
dem-15776	198	70	,	,	PUNCT
dem-15776	198	71	71	71	NUM
dem-15776	198	72	,	,	PUNCT
dem-15776	198	73	599–607	599–607	NUM
dem-15776	198	74	,	,	PUNCT
dem-15776	198	75	doi	doi	NOUN
dem-15776	198	76	:	:	PUNCT
dem-15776	198	77	https://www.jstor.org/stable/2336570	https://www.jstor.org/stable/2336570	NOUN
dem-15776	198	78	.	.	PUNCT
dem-15776	199	1	shleifer	shleifer	PROPN
dem-15776	199	2	,	,	PUNCT
dem-15776	199	3	a.	a.	NOUN
dem-15776	199	4	and	and	CCONJ
dem-15776	199	5	vishny	vishny	PROPN
dem-15776	199	6	,	,	PUNCT
dem-15776	199	7	r.	r.	PROPN
dem-15776	199	8	w.	w.	PROPN
dem-15776	199	9	(	(	PUNCT
dem-15776	199	10	1997	1997	NUM
dem-15776	199	11	)	)	PUNCT
dem-15776	199	12	,	,	PUNCT
dem-15776	199	13	a	a	DET
dem-15776	199	14	survey	survey	NOUN
dem-15776	199	15	of	of	ADP
dem-15776	199	16	corporate	corporate	ADJ
dem-15776	199	17	governance	governance	NOUN
dem-15776	199	18	,	,	PUNCT
dem-15776	199	19	journal	journal	NOUN
dem-15776	199	20	of	of	ADP
dem-15776	199	21	finance	finance	NOUN
dem-15776	199	22	,	,	PUNCT
dem-15776	199	23	52	52	NUM
dem-15776	199	24	,	,	PUNCT
dem-15776	199	25	737–783	737–783	NUM
dem-15776	199	26	,	,	PUNCT
dem-15776	199	27	doi	doi	NOUN
dem-15776	199	28	:	:	PUNCT
dem-15776	199	29	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	PROPN
dem-15776	199	30	.	.	PUNCT
dem-15776	199	31	http://dx.doi.org/10.12775/dem.2016.004	http://dx.doi.org/10.12775/dem.2016.004	NOUN
dem-15776	200	1	https://doi.org/10.1111/j.1540-6261.1983.tb03623.x	https://doi.org/10.1111/j.1540-6261.1983.tb03623.x	PROPN
dem-15776	200	2	https://www.jstor.org/stable/2327683?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/2327683?seq=1#page_scan_tab_content	NOUN
dem-15776	200	3	https://doi.org/10.1080/09603100701748956	https://doi.org/10.1080/09603100701748956	X
dem-15776	200	4	https://doi.org/10.1016/0165-1889(88)90041-3	https://doi.org/10.1016/0165-1889(88)90041-3	PROPN
dem-15776	200	5	https://www.jstor.org/stable/2938278?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/2938278?seq=1#page_scan_tab_content	NOUN
dem-15776	200	6	https://doi.org/10.1111/j.1468-0084.1990.mp52002003.x	https://doi.org/10.1111/j.1468-0084.1990.mp52002003.x	PRON
dem-15776	200	7	https://www.questia.com/library/journal/1p3-16999247/the-effect-of-macroeconomic-variables-on-stock-market	https://www.questia.com/library/journal/1p3-16999247/the-effect-of-macroeconomic-variables-on-stock-market	NOUN
dem-15776	200	8	https://doi.org/10.1016/s1059-0560(99)00042-8	https://doi.org/10.1016/s1059-0560(99)00042-8	INTJ
dem-15776	201	1	https://doi.org/10.1111/j.1475-6803.1995.tb00563.x	https://doi.org/10.1111/j.1475-6803.1995.tb00563.x	INTJ
dem-15776	201	2	https://doi.org/10.1080/00036849700000035	https://doi.org/10.1080/00036849700000035	NOUN
dem-15776	201	3	https://doi.org/10.1016/0165-1889(88)90043-7	https://doi.org/10.1016/0165-1889(88)90043-7	PROPN
dem-15776	201	4	https://www.jstor.org/stable/2336182?seq=1#page_scan_tab_contents	https://www.jstor.org/stable/2336182?seq=1#page_scan_tab_content	NOUN
dem-15776	201	5	https://www.jstor.org/stable/2336570?seq=1%23page_scan_tab_contents	https://www.jstor.org/stable/2336570?seq=1%23page_scan_tab_contents	PUNCT
dem-15776	201	6	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	VERB
dem-15776	201	7	stock	stock	NOUN
dem-15776	201	8	market	market	NOUN
dem-15776	201	9	prices	price	NOUN
dem-15776	201	10	and	and	CCONJ
dem-15776	201	11	the	the	DET
dem-15776	201	12	macroeconomics	macroeconomic	NOUN
dem-15776	201	13	of	of	ADP
dem-15776	201	14	emerging	emerge	VERB
dem-15776	201	15	economies	economy	NOUN
dem-15776	201	16	dynamic	dynamic	ADJ
dem-15776	201	17	econometric	econometric	ADJ
dem-15776	201	18	models	model	NOUN
dem-15776	201	19	18	18	NUM
dem-15776	201	20	(	(	PUNCT
dem-15776	201	21	2018	2018	NUM
dem-15776	201	22	)	)	PUNCT
dem-15776	201	23	35–47	35–47	NUM
dem-15776	201	24	47	47	NUM
dem-15776	201	25	syczewska	syczewska	PROPN
dem-15776	201	26	,	,	PUNCT
dem-15776	201	27	e.	e.	PROPN
dem-15776	201	28	m.	m.	PROPN
dem-15776	201	29	(	(	PUNCT
dem-15776	201	30	2014	2014	NUM
dem-15776	201	31	)	)	PUNCT
dem-15776	201	32	,	,	PUNCT
dem-15776	201	33	the	the	DET
dem-15776	201	34	eurpln	eurpln	NOUN
dem-15776	201	35	,	,	PUNCT
dem-15776	201	36	dax	dax	PROPN
dem-15776	201	37	and	and	CCONJ
dem-15776	201	38	wig20	wig20	PROPN
dem-15776	201	39	:	:	PUNCT
dem-15776	201	40	the	the	DET
dem-15776	201	41	granger	granger	PROPN
dem-15776	201	42	causality	causality	NOUN
dem-15776	201	43	tests	test	VERB
dem-15776	201	44	before	before	ADP
dem-15776	201	45	and	and	CCONJ
dem-15776	201	46	during	during	ADP
dem-15776	201	47	the	the	DET
dem-15776	201	48	crisis	crisis	NOUN
dem-15776	201	49	,	,	PUNCT
dem-15776	201	50	dynamic	dynamic	ADJ
dem-15776	201	51	econometric	econometric	ADJ
dem-15776	201	52	models	model	NOUN
dem-15776	201	53	,	,	PUNCT
dem-15776	201	54	14	14	NUM
dem-15776	201	55	,	,	PUNCT
dem-15776	201	56	93–104	93–104	PROPN
dem-15776	201	57	,	,	PUNCT
dem-15776	201	58	doi	doi	PROPN
dem-15776	201	59	:	:	PUNCT
dem-15776	201	60	http://dx.doi.org/10.12775/dem.2014.005	http://dx.doi.org/10.12775/dem.2014.005	PROPN
dem-15776	201	61	.	.	PUNCT
dem-15776	202	1	wongbangpo	wongbangpo	NOUN
dem-15776	202	2	,	,	PUNCT
dem-15776	202	3	p.	p.	NOUN
dem-15776	202	4	and	and	CCONJ
dem-15776	202	5	sharma	sharma	PROPN
dem-15776	202	6	,	,	PUNCT
dem-15776	202	7	s.	s.	PROPN
dem-15776	202	8	c.	c.	PROPN
dem-15776	202	9	(	(	PUNCT
dem-15776	202	10	2002	2002	NUM
dem-15776	202	11	)	)	PUNCT
dem-15776	202	12	,	,	PUNCT
dem-15776	202	13	stock	stock	NOUN
dem-15776	202	14	market	market	NOUN
dem-15776	202	15	and	and	CCONJ
dem-15776	202	16	macroeconomic	macroeconomic	ADJ
dem-15776	202	17	fundamental	fundamental	ADJ
dem-15776	202	18	dynamic	dynamic	ADJ
dem-15776	202	19	interaction	interaction	NOUN
dem-15776	202	20	:	:	PUNCT
dem-15776	202	21	asean-5	asean-5	NUM
dem-15776	202	22	countries	country	NOUN
dem-15776	202	23	,	,	PUNCT
dem-15776	202	24	journal	journal	NOUN
dem-15776	202	25	of	of	ADP
dem-15776	202	26	asian	asian	ADJ
dem-15776	202	27	economics	economic	NOUN
dem-15776	202	28	,	,	PUNCT
dem-15776	202	29	13	13	NUM
dem-15776	202	30	,	,	PUNCT
dem-15776	202	31	27–51	27–51	NUM
dem-15776	202	32	,	,	PUNCT
dem-15776	202	33	doi	doi	NOUN
dem-15776	202	34	:	:	PUNCT
dem-15776	202	35	https://doi.org/10.1016/s1049-0078(01)00111-7	https://doi.org/10.1016/s1049-0078(01)00111-7	PROPN
dem-15776	202	36	.	.	PUNCT
dem-15776	202	37	http://dx.doi.org/10.12775/dem.2014.005	http://dx.doi.org/10.12775/dem.2014.005	PROPN
dem-15776	202	38	https://doi.org/10.1016/s1049-0078(01)00111-7	https://doi.org/10.1016/s1049-0078(01)00111-7	PROPN