Monetary pressure, inflation dynamics and structural shocks in Pakistan

Essays in inflation and monetary dynamics in developing countries

Modeling U . S . Inflation Dynamics : Persistence and Monetary Policy Regimes

The fact that U.S. inflation has been remarkably low and stable over the past two decades prompts questions as to whether or not inflation persistence has changed to a lower level too. This paper employs the recently developed structural stability test with multiple regime shifts to model U.S. inflation dynamics over the past half century. Our empirical results suggest that the persistence of i...

Monetary Policy, Inflation and Economic Growth in Pakistan: Exploring the Co-integration and Causality Relationships

This paper investigates the long run and short run relationships of monetary policy, inflation and economic growth in Pakistan using co-integration and causality analysis during the period 0f 1972-2010. A large number of empirical studies on the relationships of monetary policy and inflation are available and most of these have analyzed the effectiveness of monetary policy in controlling inflat...

relationship between budget structure, monetary dynamics and inflation in the iranian economy

iran’s economy has experienced an average inflation rate of 18.77 percent during the period of 1979-2010. many economists believe that the budget deficits are one of the main determinants of the chronic and relatively high inflation. this paper investigates the relationship between budget deficits and inflation. dynamics of iran’s monetary sector, based on the three cointegration relations i.e....

Monetary models and technology shocks

Adding variable capital utilisation to a dynamic new Keynesian framework gives a model which can produce realistic responses to both technology and monetary shocks. This requires the assumption of a much lower level of nominal rigidity than is usual.