Impact of Mixed Policy Targeting to Control Inflation: A Case Study of Pakistan
Journal Title: ACADEMIC JOURNAL OF SOCIAL SCIENCES - Year 2017, Vol 1, Issue 1
Abstract
Price stability has become the major long-term goal of every economy. The State Bank of Pakistan is also making efforts to adopt an appropriate monetary policy to handle inflation in the country. This study will use mixed policy targeting to bring price stability in Pakistan. This research constructs a single equation model to empirically investigate mixed policy strategy. The estimation results indicate that in the long-run monetary policy is effective in controlling inflation while the role of fiscal policy is insignificant. We will consider inflation rate as a dependent variable in the model which will be measured in terms of CPI. The independent variables are money supplyM2), government consumption expenditure (GCE) and real GDP growth. The study will use annual time series data from 1975 to 2013. This research uses Unit Root test to examine the stationarity of data. Based upon stationarity of time series data the technique of Autoregressive Distributed Lag Model has used.
Authors and Affiliations
HUMERA SHERAZI, AMNA KAUSAR, NADIA RAZA
Keywords
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