The main aim of this paper is to investigate how far State Bank of Pakistan is prepared enough to undertake its monetary policy operations - right from its operational target (Reserve Money) to mid term target (M2) and ultimate target CPI (consumer price index) and Real GDP (Gross Domestic...

The economic success story of the 1990s has been Ireland, with GDP per capita nearly doubling over the decade. In this article Pierre Fortin from the Université du Québec à Montréal and the Canadian Institute for Advanced Research provides a detailed examination of the factors behind the...

In the late 1970s, numerous domestic and external factors began to destabilize the Central American economies. In some cases, a misperception of the seriousness of these problems and a desire to prolong the economic bonanza led to the implementation of countercyclical policies and the...

Political stability is generally hailed as an asset that yields positive economic dividends. In particular, the macroeconomic environment is likely to benefit from political stability. On the other hand, the existence of a sizeable shadow (or informal) economy represents institutional weaknesses...

A conventional reading of economic history implies that free market reforms rescued the world’s economies from stagnancy during the 1970s and 1980s. I reexamine a well-established econometric literature linking economic freedom to growth, and argue that their positive findings hinge on two...

A conventional reading of economic history implies that free market reforms rescued the world’s economies from stagnancy during the 1970s and 1980s. I reexamine a well-established econometric literature linking economic freedom to growth, and argue that their positive findings hinge on two...

This article investigates the causal linkage between budget deficit, monetary mass and inflation in the transition economies. It is focused on the impact of public expenditures growth on money supply growth, and it does not take in account the amount of budget deficit. We test the new hypothesis...

We examine the effect of remittance outflows on inflation in the remitting countries. The growth of remittance outflows depresses inflation rate.

In August, the consumer price index was the lowest in the current year and amounted to 0.1% (against 0.2% decline in August 2011). The main inflation curbing factor was the inflation decline in food prices (-0.5%). The second phase of regulated tariffs indexation urged the acceleration of...

The effect of September indexation of housing and public utilities prices began to subside, leading to a slowdown of inflation in October: as per the month results, the CPI equaled the same period of the last year and amounted to 0.5%. In November, the growth rate of consumer prices remained...