A survey conducted in 1975, as part of the World Fertility Survey programme, provided evidence that fertility began to decline in Pakistan during the early 1970s. Because of the low level of contraceptive use recorded in that survey, the fertility decline was attributed to delayed marriage....

We construct a model that considers the direct effects, if any, of government spending on the attitudes of a typical consumer toward risk, time preference, and intertemporal substitution. The null hypothesis is that a growing government sector does not affect the consumer's behavior, and the...

This note explores the mathematical theory to solve modern gambler’s ruin problems. We establish a ruin framework and solve for the probability of bankruptcy. We also show how this relates to the expected time to bankruptcy and review the risk neutral probabilities associated an adjustment to...

This study analyzes the time-frequency relationship between oil price and exchange rate for Pakistan by using measures of continuous wavelet such as wavelet power, cross-wavelet power, and cross-wavelet coherency. The results of cross-wavelet analysis indicate that covariance between oil price...

Derivatives are the major icon among risk management practices. Firms usually use derivatives to hedge their foreign exchange and interest rate risk. This study aims to examine the determinants’ of corporate hedging policies and derivative usage in risk management particularly with respect to...

This study examines the impact of female wages, unemployment, foreign remittances and globalization on female labor supply over the period from 1980 to 2010. We have applied the ARDL bounds testing to test whether cointegration exists between variables. Our results show that variables are...

This research assesses the distributional characteristics of growth in Pakistan by applying statistical techniques suggested in the empirical literature on poverty and income inequality. An attempt is also made to determine the relative contribution of economic growth and distribution of income...

In this paper we show that the wildly popular Holt and Laury (2002) risk preference elicitation method confounds estimates of the curvature of the utility function, the traditional notion of risk preference, with an estimate of the extent to which an individual weights probabilities...

This paper is reflective of an attempt to construct a temporal profile of emigration from Pakistan over the past five decades. As detailed in the paper there have been distinct types of emigration streams distinguished on the basis of size, skill composition, duration of stay abroad and nature...

Decisions of investing in sovereign assets involve both risk and ambiguity. Ambiguity arises from unknown elements characterizing the value of a generic sovereign. In presence of ambiguity, ambiguity-averse investors are prone to pay for obtaining summary information such as ratings which...