A small-size macroeconometric model for Pakistan economy
This paper is part of efforts to develop macroeconometric model for Pakistan (MMP). This paper is an initial attempt to develop a small size macroeconometric model to foresee the effects of monetary policy through forecasting and simulations. We present the basic structure of macroeconometric model for Pakistan. This is a small-size model comprising 17 equations, out of which 11 are behavioral equations while the rest are either identities or definitional equations. OLS method is used to estimate the behavioral equations by using annual data from FY73-FY06. We provide the estimation results and results of policy simulations to quantify the impact of shocks to various exogenous variables.
|Date of creation:||2008|
|Date of revision:||2010|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Mohsin S. Khan, 1985. "An Analytical Approach to Interest Rate Determination in Developing Countries," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 24(3-4), pages 481-495.
- Christopher A. Sims, 1992.
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Cowles Foundation Discussion Papers
1011, Cowles Foundation for Research in Economics, Yale University.
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- Qayyum, Abdul, 2005.
"Modelling the Demand for Money in Pakistan,"
2057, University Library of Munich, Germany, revised 2005.
- Sebastian Edwards & Mohsin S. Khan, 1985. "Interest Rate Determination in Developing Countries: A Conceptual Framework," NBER Working Papers 1531, National Bureau of Economic Research, Inc.
- Rana Ejaz Ali Khan & Qazi Muhammad Adnan Hye, 2013.
"Financial liberalization and demand for money: a case of Pakistan,"
Journal of Developing Areas,
Tennessee State University, College of Business, vol. 47(2), pages 175-198, July-Dece.
- Khan, Rana Ejaz Ali & Hye, Qazi Muhammad Adnan, 2011. "Financial Liberalization And Demand For Money: A Case of Pakistan," MPRA Paper 34795, University Library of Munich, Germany.
- Hall, Robert E, 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 971-987, December.
- Chishti, Salim U. & Hasan, M. Aynul & Mahmud, Syed F., 1992. "Macroeconometric modelling and Pakistan's economy : A vector autoregression approach," Journal of Development Economics, Elsevier, vol. 38(2), pages 353-370, April.
- Ashfaque H. Khan, 1994. "Financial Liberalisation and the Demand for Money in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(4), pages 997-1010.
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