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Inflation in Pakistan: Empirical Evidence on the Monetarist and Structuralist Hypotheses

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  • FAIZ BILQUEES

    (Pakistan Institute of Development Economics, Islamabad)

Abstract

In the light of the debate between the monetarists and the structuralists regarding the explanation of inflation- in the LOCs this paper tests the monetarist and structuralist hypotheses to determine the possible factors affecting the inflationary process in Pakistan. After examining the two hypotheses the study concludes that in addition to monetary factors, the structural factors peculiar to the economy of Pakistan also have to be considered for a better understanding of this phenomenon.

Suggested Citation

  • Faiz Bilquees, 1988. "Inflation in Pakistan: Empirical Evidence on the Monetarist and Structuralist Hypotheses," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 27(2), pages 109-129.
  • Handle: RePEc:pid:journl:v:27:y:1988:i:2:p:109-129
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    File URL: http://www.pide.org.pk/pdf/PDR/1988/Volume2/109-129.pdf
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    References listed on IDEAS

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    1. Nugent, Jeffrey B. & Glezakos, Constantine, 1979. "A model of inflation and expectations in Latin America," Journal of Development Economics, Elsevier, vol. 6(3), pages 431-446, August.
    2. Toyoda, Toshihisa, 1972. "Price Expectations an the Short-Run and Long-Run Phillips Curves in Japan, 1956-1968," The Review of Economics and Statistics, MIT Press, vol. 54(3), pages 267-274, August.
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    Cited by:

    1. Mohammad Aslam Chaudhary & Naved Ahmad, 1995. "Money Supply, Deficit, and Inflation in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 34(4), pages 945-956.
    2. Shahzad Ahmad & Farooq Pasha, 2015. "A Pragmatic Model for Monetary Policy Analysis I: The Case of Pakistan," SBP Research Bulletin, State Bank of Pakistan, Research Department, vol. 11, pages 1-42.
    3. S. Adnan & H.A.S. BUKHARI & Safdar Ullah KHAN, 2008. "Does Volatility In Government Borrowing Leads To Higher Inflation? Evidence From Pakistan," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 3(3(5)_Fall), pages 187-202.
    4. Khan, Mahmood ul Hassan & Hanif, Muhammad Nadim, 2012. "Role of Demand and Supply Shocks in Driving Inflation: A Case Study of Pakistan," MPRA Paper 48884, University Library of Munich, Germany.
    5. Abdul Qayyum, 2002. "Monetary Conditions Index: A Composite Measure of Monetary Policy in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 41(4), pages 551-566.
    6. Mehak Moazam & M. Ali Kemal, 2016. "Inflation in Pakistan: Money or Oil Prices," PIDE-Working Papers 2016:144, Pakistan Institute of Development Economics.
    7. Abdul Qayyum, 2006. "Money, Inflation, and Growth in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(2), pages 203-212.
    8. Hanif, Muhammad Nadim, 2014. "Monetary Policy Experience of Pakistan," MPRA Paper 60855, University Library of Munich, Germany.
    9. Eatzaz Ahmad & Saima Ahmed Ali, 1999. "Exchange Rate and Inflation Dynamics," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 38(3), pages 235-251.
    10. Hanif, Muhammad Nadim & Malik, Muhammad Jahanzeb, 2015. "Evaluating Performance of Inflation Forecasting Models of Pakistan," MPRA Paper 66843, University Library of Munich, Germany.
    11. Mehak Moazam & M. Ali Kemal, 2016. "Inflation in Pakistan: Money or Oil Prices," Working Papers id:11507, eSocialSciences.
    12. Syed, Kanwar Abbas, 2009. "Do Money Or Oil And Crop Productivity Shocks Lead To Inflation: The Case Of Pakistan," MPRA Paper 15223, University Library of Munich, Germany.
    13. Syed Kumail Abbas Naqvi & Bushra Naqvi, 2010. "Asymmetric Behavior of Inflation Uncertainty and Friedman-Ball Hypothesis: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 15(2), pages 1-33, Jul-Dec.
    14. Sumera Arshad & Amajd Ali, 2016. "Trade-off between Inflation, Interest and Unemployment Rate of Pakistan: Revisited," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(4), pages 193-209, December.

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