Inflation in Pakistan : money or wheat? / prepared by Mohsin S. Khan and Axel Schimmelpfennig.
This paper examines the relative importance of monetary factors and structuralist supply-side factors for inflation in Pakistan. A stylized inflation model is specified that includes standard monetary variables (money supply, credit to the private sector), the exchange rate, as well as the wheat sup...
Saved in:
| Online Access: |
Full Text (via ProQuest) |
|---|---|
| Main Authors: | , |
| Corporate Author: | |
| Format: | eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund, Middle East and Central Asia Dept.,
2006.
|
| Series: | IMF working paper ;
WP/06/60. |
| Subjects: |
| Summary: | This paper examines the relative importance of monetary factors and structuralist supply-side factors for inflation in Pakistan. A stylized inflation model is specified that includes standard monetary variables (money supply, credit to the private sector), the exchange rate, as well as the wheat support price as a supply-side factor that has received considerable attention in Pakistan. The model is estimated for the period January 1998 to June 2005 on a monthly basis. The results indicate that monetary factors have played a dominant role in recent inflation, affecting inflation with a lag of about one year. Changes in the wheat support price influence inflation in the short run, but not in the long run. Furthermore, the wheat support price matters only over the medium term if accommodated by monetary policy. |
|---|---|
| Physical Description: | 1 online resource (26 pages) : illustrations. |
| Bibliography: | Includes bibliographical references. |
| ISBN: | 1283517442 9781283517447 9781451908565 1451908563 9781451863208 1451863209 1462349811 9781462349814 1452716854 9781452716855 9786613829894 6613829897 |
| ISSN: | 2227-8885 ; |
| Language: | English. |
| Source of Description, Etc. Note: | Source of description: Print version record. |