The monetarist hypothesis of inflation in Pakistan – a critique

Muhammad Azam and Salim Rashid ()

Journal of the Asia Pacific Economy, 2015, vol. 20, issue 4, 559-576

Abstract: The aim of the present study is to analyze empirically the significance of the monetarist explanation of inflation in Pakistan. After testing the data for stationarity, the method of least squares is used. Regression analysis shows slight effects of money supply on inflation while, by contrast, structural factors involving wheat, oil and import prices show more substantial effects. The effective control of inflation requires policy makers to smoothen the supply of food and to moderate import prices.

Date: 2015
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DOI: 10.1080/13547860.2014.970324

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