Inflation in Pakistan : Money or Wheat? / Mohsin Khan, Axel Schimmelpfennig.

Format:

Book

Government document

Author/Creator:

Khan, Mohsin.

Contributor:

Schimmelpfennig, Axel.

International Monetary Fund. Middle East and Central Asia Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/060

IMF Working Papers

Language:

English

Subjects (All):

Inflation (Finance)--Pakistan--Econometric models.

Inflation (Finance).

Finance--Pakistan--Econometric models.

Finance.

Physical Description:

1 online resource (28 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

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.

Contents:

""Contents""; ""I. INTRODUCTION""; ""II. BASIC ELEMENTS OF THE MODEL""; ""III. EMPIRICAL RESULTS""; ""IV. WHY WORRY ABOUT INFLATION?""; ""V. SUMMARY AND CONCLUSIONS""; ""References""

Notes:

"March 2006."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613829894

9781462349814

1462349811

9781452716855

1452716854

9781283517447

1283517442

9781451908565

1451908563

OCLC:

698585527