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Detection and Forecasting of Islamic Calendar Effects in Time Series Data: Revisited

Author

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  • Nasir Hamid Rao
  • Syed Kalim Hyder Bukhari
  • Abdul Jalil

Abstract

This paper is an attempt to revisit the pioneering work of Riazuddin and Khan (2002). A complete business cycle has been elapsed (2002-2010) since their study, so there is need to review the results with additional information. This revisited attempt, based on a theoretically specified framework, arrived at similar results and found significant impact of Islamic calendar. [WP 39]. [URL: http://www.sbp.org.pk/publications/wpapers/2011/wp39.pdf].

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  • Nasir Hamid Rao & Syed Kalim Hyder Bukhari & Abdul Jalil, 2011. "Detection and Forecasting of Islamic Calendar Effects in Time Series Data: Revisited," Working Papers id:4290, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:4290
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    Cited by:

    1. Riaz Riazuddin, 2012. "Construction and Seasonal Patterns of Islamic Hijri Calendar Monthly Time Series: An Application to Consumer Price Index (CPI) in Pakistan," SBP Working Paper Series 50, State Bank of Pakistan, Research Department.
    2. Moayedi, Vafa, 2012. "Detecting Islamic Calendar Effects on U.S. Meat Consumption: Is the Muslim Population Larger than Widely Assumed?," MPRA Paper 41554, University Library of Munich, Germany.
    3. Nida Shah & Muhammad Nadeem Qureshi & Yasra Aslam, 2017. "An Empirical Investigation of Islamic Calendar Effect in Global Islamic Equity Indices," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(6), pages 57-68, June.
    4. Riaz Riazuddin, 2012. "Construction and Seasonal Patterns of Islamic Hijri Calendar Monthly Time Series: An Application to Consumer Price Index (CPI) in Pakistan," Working Papers id:4927, eSocialSciences.

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    More about this item

    Keywords

    business cycle; Islamic calneder; time series data; forecasting; detecting; Islam; religion; pakistan; theoretical; Ramadan; population; currency holdings; seasonal factors; Quantity Theory of Money (QTM); money; prices; income;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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