Globalization and Macroeconomic Instability: Evidence from Unemployment in Pakistan

Does financial instability increase environmental degradation? Fresh evidence from Pakistan

Evidence on Structural Instability in Macroeconomic Time Series Relations

An experiment is performed to assess the prevalence of instability in univariate and bivariate macroeconomic time series relations and to ascertain whether various adaptive forecasting techniques successfully handle any such instability. Formal tests for instability and out-of-sample forecasts from 16 different models are computed using a sample of 76 representative U.S. monthly postwar macroec...

Correlation and Causality between Inflation and Selected Macroeconomic Variables: Empirical Evidence from Pakistan (1990-2012)

Inflation is regarded as one of the most chronic problems in Pakistan and the recent surge of inflation (10.8) in consumer price index is a matter of serious concern in the economy [1]. Inflation imposes high cost on economies and societies; disproportionately hurts the poor and fixed income groups, creates uncertainty throughout the economy and undermines macroeconomic stability. It also resul...

Economic Globalization and its Impact on Poverty and Inequality: Evidence From Pakistan

Proponents of economic globalization view it as a key to future economic development and in general it is considered a positive force for improved quality of life, acceleration of economic growth, efficient allocation of resources and greater productivity enhancements. Whereas, anti-globalization camp argues that it increases poverty and leads to worsening in the distribution of income. Like ma...

Economic Reforms and Macroeconomic Management in Pakistan

Pakistan was one of the few developing countries that had achieved an average growth rate of over 5 percent over a four decade period ending 1990. Consequently, the incidence of poverty had declined from 40 percent to 18 percent by the end of 1980s. But the 1990s proved to be a lost decade for Pakistan, Growth in per capita income dropped to slightly over 1 percent. Poverty resurfaced and about...