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A Small-size Macroeconometric Model for Pakistan Economy

Muhammad Hanif (), Zulfiqar Hyder (), Muhammad Amin Khan Lodhi (), Mahmood ul Hasan Khan () and Irem Batool ()
Additional contact information
Muhammad Amin Khan Lodhi: State Bank of Pakistan
Mahmood ul Hasan Khan: State Bank of Pakistan

No 34, SBP Working Paper Series from State Bank of Pakistan, Research Department

Abstract: This paper is part of efforts to develop macroeconometric model for Pakistan (MMP). This paper is an initial attempt to develop a small size macroeconometric model to foresee the effects of monetary policy through forecasting and simulations. We present the basic structure of macroeconometric model for Pakistan. This is a small-size model comprising 17 equations, out of which 11 are behavioral equations while the rest are either identities or definitional equations. OLS method is used to estimate the behavioral equations by using annual data from FY73-FY06. We provide the estimation results and results of policy simulations to quantify the impact of shocks to various exogenous variables.

Keywords: Macroeconometric model; OLS; Pakistan (search for similar items in EconPapers)
JEL-codes: C51 C53 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2010-05
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