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Monetary policy rules for a developing country: Evidence from Pakistan

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  • Aleem, Abdul
  • Lahiani, Amine

Abstract

This paper estimates forward-looking monetary policy rules to examine the interest rate setting behavior of the State Bank of Pakistan. Considering the external constraints on monetary policy, core inflation and a country-specific measure of the output gap, we demonstrate that the State Bank of Pakistan reacts to changes in inflation, the output gap and the federal funds rate.

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File URL: http://www.sciencedirect.com/science/article/pii/S1049007811000637
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Bibliographic Info

Article provided by Elsevier in its journal Journal of Asian Economics.

Volume (Year): 22 (2011)
Issue (Month): 6 ()
Pages: 483-494

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Handle: RePEc:eee:asieco:v:22:y:2011:i:6:p:483-494

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Web page: http://www.elsevier.com/locate/asieco

Related research

Keywords: Monetary policy rules; Central bank; Pakistan;

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Cited by:
  1. Imen Mohamed Sghaier & Zouheir Abida, 2013. "Monetary Policy Rules for a Developing Countries: Evidence from Tunisia," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 5(1), pages 035-046, June.

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