Substitutability of Pakistan's Monetary Assets under Alternative Monetary Aggregates

M Aynul Hasan, S. Ghulam Kadir and S. Fakhre Mahmud
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M Aynul Hasan: Economics at Acadia University,
S. Ghulam Kadir: State Bank of Pakistan, Karachi, Pakistan.
S. Fakhre Mahmud: Economics at Acadia University,

The Pakistan Development Review, 1988, vol. 27, issue 3, 317-326

Abstract: This paper's main objective is to empirically investigate whether or not the use of the simple-sum aggregate is justified in the context of Pakistan's economy and also to determine the degree of substitutability of monetary assets.

Date: 1988
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