Munir, Kashif; Qayyum, Abdul - In: Empirical Economics 46 (2014) 3, pp. 843-864
This paper examines the effects of monetary policy on macroeconomic variables in Pakistan’s economy using a data-rich environment. We used the factor-augmented vector autoregressive (FAVAR) methodology, which contains 115 monthly variables for the period 1992:01 to 2010:12. We compared the...