In this paper, we develop and simulate an RBC model that includes intangible capital as a third factor of production. We study the effects of intra-temporal preference shocks on economic aggregates, employing the undetermined coefficient method of to solve the model. Impulse response functions...

In this paper, we develop and simulate an RBC model that includes intangible capital as a third factor of production. We study the effects of intra-temporal preference shocks on economic aggregates, employing the undetermined coefficient method of to solve the model. Impulse response functions...

This study examines the dynamic effects of the oil price (OP) shocks on the key macroeconomic variables of Pakistan. A structural vector autoregressive model is used on yearly data from 1960 to 2014. The impulse response functions indicate that the OP shocks depress the real gross domestic...

The COVID-19 pandemic threatens lives and livelihoods, and, with that, has created immediate challenges for institutions that serve affected communities. We focus on implications for local microfinance institutions in Pakistan, a country with a mature microfinance sector, serving a large number...

The paper aims to investigate the possible dual causality between exchange rates and stock indices of China and ASEAN using Structural Vector Auto-Regressive Model (SVAR). The paper has analysed the dynamic relationships between the Yuan and the Shanghai Composite Index and Shenzhen Stock Index...

The paper aims to investigate the possible dual causality between exchange rates and stock indices of China and ASEAN using Structural Vector Auto-Regressive Model (SVAR). The paper has analysed the dynamic relationships between the Yuan and the Shanghai Composite Index and Shenzhen Stock Index...

This paper identifies the main impediments to investment and industrial productivity in Punjab, which have led to a decline in growth. This is done by analyzing the impediments and constraints to productivity and investment using the World Bank’s 2007 Investment Climate Assessment (ICA) data...

What are the main impediments to investment and industrial productivity in Punjab which have contributed to this unprecedented decline in growth? This is done by analyzing the 2007 Investment Climate Assessment (ICA) data at the level of the seven main industrial zones of Punjab. The World Bank...

Are devaluations contractionary? This question has been with us for a long time. The conventional Keynesian economist holds the view that if devaluation is demandexpansionary, then both output and balance-of-payments will improve with devaluation. Experience, however, shows contrary outcomes....