By increasing the importance of financial assets market, it is necessary to perform constant studies about these markets. An important component of any financial market is stock exchange market. Since, there is a significant relationship between the stock market develop
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By increasing the importance of financial assets market, it is necessary to perform constant studies about these markets. An important component of any financial market is stock exchange market. Since, there is a significant relationship between the stock market developments and the economic stagnation and downturn, mutual macroeconomic policy, especially monetary policy affects the stock market too. So, this study examines the impact of macroeconomic variables on stock prices focusing on the role of monetary policy by using SVEC model .The results represent that stock price in Iran mostly affect the monetary policy and it is important in explaining stock price changes. This is because, it depends on the Bank's financial sector, lack of awareness, lack of capital market securities and failure of interest rate channel in Iran.
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