The relative significance of fiscal and monetary policy has been one of the most unsettled issues in economics. Relevant literature shows that the study of the effectiveness of monetary and fiscal policy is equivalent to the study of the relative efficacy of Keynesian economics and monetarism....

This study investigates the effectiveness of fiscal policy and its impact on macroeconomic activities in Pakistan during the period 1972–2008. It examines the role of fiscal policy under democratic and military regimes. Recognising the shortcomings of traditional procedures, this study adopts...

The public policy instruments, such as tax rate changes, have different implications in exogenous (neoclassical) and endogenous growth theories. The neoclassical theory predicts that changes in a country’s tax structure should have only transitory impact on its long-run economic growth while...

The study empirically investigates the effects of fiscal policy or government budget deficit shocks on the current account and the other macroeconomic variables, real output, real interest rate, and exchange rate for Pakistan over the period 1960-2009. The structural Vector Autoregressive model...

Economic and human development is the ultimate goal of every government. The objective of this study is to investigate the role of fiscal policy in the human development of the country. The novelty of this study is that here we directly measure the effect of government expenditures on Human...

This paper studies whether in Pakistan the dynamic behaviour of unemployment, inflation, budget deficit and real GDP growth is systematically affected by the timing of elections. We cover the period from 1973-2009. Our results can be summarised as follows: (1) Unemployment tends to be lower in...