This paper re-examines the causal relationship between money and income and between money and prices in Pakistan. Using …-integration analysis indicates, in general, the long run relationship among money, income, and prices. The Error Correction and Granger … Causality framework suggest a one way causation from income to money in the long run implying that probably real factors rather …

This paper attempts to look at the trends in income, money, and prices in Pakistan over the years. In addition, we also … 1970s. However, these expansions can be attributed to phenomenal expansions in prices. Real income, on the other hand …, improved marginally. Real income expanded significantly in the 1960s and remained stable till the 1980s but significantly …