Monetary Policy, Oil Rents, Exchange Rate and Consumer Prices Nexus: A Case Study of Pakistan
Iftikhar Ahmad,
Arifa Saeed,
Muhammad Mudassar Naushahi
et al.
Abstract:This research examines the effects of monetary policy in the form of nominal money supply, economic growth, exchange rate, and oil rents on domestic prices for Pakistan's economy. By taking an annual data series, this research reports evidence of mixed integrated order of the data series. The estimates of the ARDL bounds test suggest that consumer prices have a long-run cointegrating relation with its factors. The findings also highlight that the money supply supports the causality thesis, indicating that when… Show more
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