Sectoral behaviour of money demand is investigated. It is found that all the series used in the analysis are non-stationary and could not be used without proper transformation. From the cointegration analysis it is concluded that there is long run relationship between the real money demand and...

This paper attempts to investigate the linkage between the excess money supply growth and inflation in Pakistan and to test the validity of the monetarist stance that inflation is a monetary phenomenon. The results from the correlation analysis indicate that there is a positive association...

In this study an attempt has been made to develop and estimate the domestic credit policy reaction function to analyse the monetary implications of interventions and sterilisation policy in Pakistan using quarterly data ranging from 1982 Q3 through 2001 Q2. By employing Johansen multivariate...