Purpose – The purpose of this paper is to estimate the short and the long run wheat demand elasticities in Pakistan. Design/methodology/approach – Using cointegration and vector error correction model (VECM) techniques, the main objective of the study has been achieved. Findings – The...

The intertemporal approach has become a basic reference in open economy macroeconomics for the theoretical understanding of the current account. Since the early 1980s there has been substantial growth in the literature using this approach to analyse the behaviour of the current account movements...

One of the more celebrated propositions found in international trade is the case that trade liberalization is associated with declining prices, so that protectionism is inflationary. In line with this view, Romer (1993) postulates the hypothesis that inflation is lower in small and open...