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

Date
1992
Authors
Chishti, S. U.
Hasan, M. A.
Mahmud, S. F.
Advisor
Supervisor
Co-Advisor
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Instructor
Source Title
Journal of Development Economics
Print ISSN
0304-3878
Electronic ISSN
Publisher
Volume
38
Issue
2
Pages
353 - 370
Language
English
Type
Article
Journal Title
Journal ISSN
Volume Title
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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.

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Book Title
Keywords
Developing country, Empirical result, Macroeconomic variable, National economy, Simulation model, Vector autoregression, Pakistan
Citation
Published Version (Please cite this version)