nominal money and nominal income, and between nominal money and prices using using the annual data set from 1959-60 to 2003 … money in the Pakistani economy, as it is found to be the leading variable in changing prices without any feed back. In the … probably because of not taking care of the shift in the macroeconomic variables in Pakistan in the early 1970s. …

for Pakistan. Using a modified version of Structural Vector Autoregression (SVAR) developed by Enders and Hurn (2007), we … shocks is only 0.041. Moreover, the results show that the demand shocks have no significant contribution to output …