Application of a Keynesian General Equilibrium Model to Analysing Growth of Output Over Time for Pakistan

Moazam Mahmood and Rabia Ikram
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Moazam Mahmood: Lahore School of Economics
Rabia Ikram: Lahore School of Economics

Chapter Chapter 6 in Explaining Pakistan’s Long-Run Growth, 2025, pp 113-135 from Springer

Abstract: Abstract This essay sets out to examine the pattern of Pakistan’s gross domestic product (GDP) growth using a Keynesian general equilibrium model to analyse and explain the trajectory of GDP growth over the long run of the last 50 years. The model gives a very clear answer. Pre-1992, high GDP growth of 6 per cent on trend was driven significantly by investment. Post-1992, lower GDP growth of 4 per cent on trend was driven significantly by consumption.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-86677-7_6

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DOI: 10.1007/978-3-031-86677-7_6

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