Objective: Previous literature on optimal savings relies on specific utility and production technology functional forms which might not be able to produce robust results as different utility/production functions may lead to dramatically different or opposing results. This paper derives an...

In the existing Statistics and Econometrics literature, there does not exist a statistical test which may test for all kinds of roots of the characteristic polynomial leading to an unstable dynamic response, i.e., positive and negative real unit roots, complex unit roots and the roots lying...

The invisible hand of a perfectly competitive market refers to the self-regulating behavior of the market where if each consumer and producer is allowed to freely make their own choices, the market settles at an efficient outcome which is beneficial to all the individual members of the society...

The Tax Amnesty Scheme, 2019 (TAS 2019), needs to be read as a sequel to the Tax Amnesty Schemes, 2018 (TAS 2018), and so does this article. This article draws significantly on “Pakistan: Economy Under Elites – Tax Amnesty Schemes, 2018” – in title, analytical framework, and even the...

When the efficiency losses or gains as a result of an ad valorem import tariff are accounted for, the exisiting literature compares the equilibrium states before and after the tariff. However, after the imposition of an ad valorem tariff, the cost of the foreign producer to sell in the domestic...

The invisible hand of a perfectly competitive financial market refers to the self-regulating behavior of the market where if each consumer and producer of funds is allowed to freely make their own choices, the market settles at an efficient outcome which is beneficial to all the individual...

The existing literature regarding the impact of trade facilitation in terms of export volume, per capita GDP, etc., only considers the market equilibria (before and after trade facilitation) to compare and account for the efficiency gains. However, when a trade facilitation measure is introduced...