The Contemporaneous Correlation of Structural Shocks and Inflation— Output Variability in Pakistan
Published By: Pakistan Institute of Development Economics (PIDE) | Published Date: January, 01 , 2011Monetary policy has changed in a number of ways during the last two decades. Along with the other characteristics, modern monetary policy is forward-looking, and the central banks respond contemporaneously to structural shocks that are expected to make inflation deviate from the future targets. This study aims at investigating this aspect of the monetary policy for Pakistan. A modified version of Structural Vector Autoregression (SVAR) developed by Enders and Hurn (2007) is used for the study.
Author(s): Muhammad Nasir, Wasim Shahid Malik | Posted on: Feb 06, 2016 | Views() | Download (115)