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      Macroeconometric modelling and Pakistan's economy. A vector autoregression approach

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      Author(s)
      Chishti, S. U.
      Hasan, M. A.
      Mahmud, S. F.
      Date
      1992
      Source Title
      Journal of Development Economics
      Print ISSN
      0304-3878
      Volume
      38
      Issue
      2
      Pages
      353 - 370
      Language
      English
      Type
      Article
      Item Usage Stats
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      Abstract
      Recent applications of the Vector Autoregression (VAR) technique pioneered by Sims, Litterman and Doan has become popular in macroeconomic modelling, particularly when knowledge about 'true' structural relations is absent. This study represents the first attempt to apply such a technique to Pakistani data for ten key macroeconomic variables. Unlike some of the earlier studies on Pakistan's economy our empirical results are intuitive and consistent with the predictions of the standard new neoclassical model. More importantly, based on these results, perhaps, one may also shed light on some of the dominant recurring macroeconomic issues of Pakistan's economy. © 1992.
      Keywords
      Developing country
      Empirical result
      Macroeconomic variable
      National economy
      Simulation model
      Vector autoregression
      Pakistan
      Permalink
      http://hdl.handle.net/11693/26117
      Published Version (Please cite this version)
      https://doi.org/10.1016/0304-3878(92)90004-S
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