Over the years there has been some growth in the demand for petroleum products by transport sector despite increases in prices of various petroleum components. This growth can, in part, be attributed to (a) increase in per capita income, and (b) consumer preference for convenient fuel....

The objective of this study is to estimate a monetary policy reaction function for Pakistan. To do this, we use data for the period 1992Q4–2010Q2. Our results show that the State Bank of Pakistan reacts to changes in the inflation rate and economic activity in a manner that is consistent with...

The theory of human capital postulates that earnings of different categories of workers, be they male or female, black or white, unionised or non-unionised depend on the level of human capital endowment of these individuals [Becker (1964) and Mineer (1974)]. Besides educational attainment and...

Wide fluctuations in world prices of food-grains, especially rice and wheat, in the seventies and the early eighties forced many developing countries to strive for self-sufficiency in food-grain production. Pakistan is among the countries where near self-sufficiency was achieved in wheat in the...

This paper analyses the impact of internal migration on earnings within the human capital model framework. Since migrants constitute a non-random sample of population, the endogenous nature of migration decision warrants necessary correction for the selectivity bias in their earnings function....

Why do factors of production, especially the labour, migrate from one region or sector to another? This question, which remains fundamental to economic and human resource development, has been a major topic among researchers. While considerable progress has been made in developing a theoretical...

Econometric models are generally constructed for a specific country on the assumption that national economies are independent. In reality, this is not the case. In this paper, we have constructed prototype linkage econometric models for Pakistan, India, Bangladesh and Sri Lanka. These models are...