This documents attempts to present, in a concise manner the historical evolution,the various functions, as well as the present organizational setup of the State Bank of Pakistan (SBP). There was a great need for such a study and I am glad that Mr. Farooq Arby, a research economist at SBP has...

Macroeconomic policies are meant to achieve non-inflationary, stable growth. There are two major groups of policy instruments to achieve the purpose; one is related to monetary conditions and the other to fiscal conditions. Monetary instruments are employed by the central bank and fiscal...

This paper estimates the size of informal economy in Pakistan by using monetary approach with some modifications, electricity consumption approach and MIMIC model. Under monetary approach, we take care of the issue of the stationarity of variables and use autoregressive distributed lag (ARDL)...

The paper explores how the monetary and fiscal policies have coordinated with each other in Pakistan. It argues that monetary and fiscal policies have been executed independently throughout the study period that is 1964-65 to 2008-09 and there have been very few instances of coordination between...

This dissertation takes on some important issues related with national accounts of Pakistan including (a) re-estimation of past series of national accounts (prior to the year 1999-00) to make it consistent with the new official series for years 1999-00 onward at new base year prices; (b)...

This SAARCFINANCE collaborative study explores the state of central banks’ unconventional monetary policy measures in the SAARC region. Following are the key highlights of the study: In SAARC region, main unconventional tool has been refinance schemes, a kind of quantitative easing, which...