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Traditionally, the task of monetary management is usually performed by the monetary authority on behalf of government. However, a key challenge in monetary management is how to deal with uncertainty. Thus, the relevant policy questions must include how best the available instruments of monetary...
Persistent link: https://www.econbiz.de/10011108535
Persistent link: https://www.econbiz.de/10001740880
This study attempts to analyze the causal relationship between inflation and productivity of labor and capital, in Pakistan’s economy by covering the period from 1960-M1 to 2007-M12. For this purpose Vector Autoregression (VAR) approach is used, which is based on error correction model (ECM)....
Persistent link: https://www.econbiz.de/10004976972
This paper investigates banking system instability vis-à-vis the day-to-day interbank market and monetary policy effectiveness in the Dominican Republic. The analysis reveals a negative relationship among excess banking system reserves and the interbank interest rate, and shows that in crisis...
Persistent link: https://www.econbiz.de/10004980406
The rules of the Eurozone cause the euro to function as the gold standard. The US economy performs better in some respects, partly because of the advantages of fiat money. The treaty on the EMU has to be adapted in order not to become dependent upon current ad hoc measures, with the loss of...
Persistent link: https://www.econbiz.de/10011107257
In this paper, we establish the empirical linkages between nominal and real variables of Pakistani economy using both annual and quarterly data. The focus of our empirical analysis has been limited to the post financial liberalization period starting in early 1990s. Furthermore, this paper...
Persistent link: https://www.econbiz.de/10011107304
Assuming a production process with returns to scale that vary with the intensity it is operated at, an AK-model of endogenous growth with constant returns to scale in production is shown to arise due to replication driven by profit-maximization. If replication occurs at the efficiency-maximizing...
Persistent link: https://www.econbiz.de/10011107369
This study undertakes an examination of asymmetric adjustment effects between electricity consumption and economic growth in South Africa using quarterly data collected from 1983Q1 to 2013:Q4. In our study, we employ a momentum-threshold co-integration method to examine the long-run equilibrium...
Persistent link: https://www.econbiz.de/10011107402
This paper presented the empirical results of the volatility transmission of overnight rate along the yield curve in case of Pakistan. The results indicate that the volatility transmission of overnight repo rate is higher at the shorter end of the yield curve while lower at the longer end. These...
Persistent link: https://www.econbiz.de/10011107405
The aim of the study was to determine the relationship mechanisms between the economic growth and human development. The research used cross country survey research design. The research covers 40 countries, 10 countries from each of human development ranks. Multivariate multiple regression model...
Persistent link: https://www.econbiz.de/10011107499