Publications - Working Papers  

 Serial #
 WP113 Effects of Monetary Policy on Stability and Asset Quality of the Banks in Pakistan  
 WP112 What Explains the Volatility in Pakistan's Sovereign Bond Yields?  
 WP111 Time-Frequency Analysis of Determinants of Inflation Rate in Pakistan  
 WP110 Does the source of the oil price shock matter for inflation in Pakistan: Implications for monetary policy  
 WP109 Monetary Policy Effectiveness in Pakistan: An In-depth Analysis of Four Transmission Channels  
 WP108 Fiscal Determinants of Inflation in Pakistan  
 WP107 Balance of Payments Constrained Growth in Pakistan - Implications for Development Policy  
 WP106 Do Workers' Remittances Promote Economic Growth in Pakistan?  
 WP105 Response of Deposits to Fixation of Minimum Rate of Return: Evidence from Pakistan's Banking System  
 WP104 Estimation of Medium Term Inflation Target for Pakistan  
 WP103 Estimation and Forecasting of Industrial Production Index  
 WP102 Denoised Inflation A New Measure of Core Inflation  
 WP101 An Anatomy of Credit Booms in Pakistan: Evidence from Macro Aggregates and Firm Level Data  
 WP100 Monetary Policy Pass-through, Excess Liquidity and Price Spillover: A Comparative Study of Conventional and Islamic Banks of Pakistan  
 WP99 A Thick ANN Model for Forecasting Inflation  
 WP98 Nowcasting LSM Growth in Pakistan  
 WP97 Robust Quarterization of GDP and Determination of Business Cycle Dates for IGC Partner Countries Code WP97
 WP96 Estimating Elasticity of Transport Fuel Demand in Pakistan  
 WP95 A Model for Forecasting and Policy Analysis in Pakistan: The Role of Government and External Sectors  
 WP94 Threshold inflation in Pakistan  
 WP93 Predicting Inflation and Output in Pakistan: The Role of Yield Spread  
 WP92 Measuring Competition in the Banking Sector of Pakistan: An Application of Boone Indicator  
 WP91 A Formal Test of Competition in the Banking Sector of Pakistan: An Application of PR-H Statistic  
 WP90 An Empirical Evaluation of 'Structure-Conduct- Performance' and 'Efficient-Structure' Paradigms in the Banking Sector of Pakistan.  
 WP89 Comparison of Various Business Cycle Models for Pakistan  
 WP88 Fully Modified HP Filter Code-WP88.txt
 WP87 Performance Comparison of Modified HP Filter, Wavelet Analysis, and Empirical Mode Decomposition for Smoothing Macroeconomic Time Series



 WP86 Estimating Liquidity Created by Banks in Pakistan  
 WP85 Estimation of Output Gap for Pakistan  
 WP84 A Small Open Economy DSGE Model with Workers Remittances  
 WP83 Does Government Borrowing Crowd out Private Sector Credit in Pakistan  
 WP82 Do Ownership Structure and Market Power Matter in Interest Rate Pass-through? Evidence from Pakistan's Bank Level Data  
 WP81 Should Central Bank Forget Reserve Requirements? Assessment of Reserve Requirements in Transmitting SBP's Policy Shocks to Retail Interest Rates and Exchange Rate  
 WP80 Assessing Monetary Policy Effectiveness in Rich Data Environment  
 WP79 Assessing the Role of Money versus Interest Rate in Pakistan  
 WP78 Words Matter: A Textual Analysis of SBP’s Monetary Policy Reviews  
 WP77 The Dominant Borrower Syndrome: The Case of Pakistan  
 WP76 Global Commodity Prices and Inflation in a Small Open Economy  
 WP75 Informal Labour Markets in Pakistan  
 WP74 The Role of Money in Explaining Business Cycles for a Developing Economy: The Case of Pakistan  
 WP73 Monetary Policy Stance: Comparison of Different Measures for Pakistan  
 WP72 Optimal Monetary Policy in the Presence of Sizable Informal Sector and Firm Level Credit Constraint  
 WP71 Transmission of Volatility of Money Market Overnight Repo Rate along the Yield Curve in Pakistan  
 WP70 Impact of Interbank Liquidity on Monetary Transmission Mechanism  
 WP69 An Empirical Analysis of Interbank Liquidity-A Case Study of Pakistan  
 WP68 Quarterly Bayesian DSGE Model of Pakistan Economy with Informality  
 WP67 The Influence of Industry Financial Composition on the Exports from Pakistan  
 WP66 A New Measure of Core Inflation in Pakistan  
 WP65 Monetary Policy, Informality and Business Cycle Fluctuations in a Developing Economy Vulnerable to External Shocks  
 WP64 Foreign Aid, External Debt and Governance  
 WP63 Does External Debt Affect Economic Growth: Evidence from Developing Countries  
 WP62 On The (Ir)relevance of Monetary Aggregate Targeting in Pakistan: An Eclectic View  
 WP61 Implications of Monetary Policy for Corporate Sector and Economic Growth in Pakistan  
 WP60 On smoothing Macroeconomic Time Series using HP and Modified HP Filter Code WP60
 WP59 Does Greater Transparency Stabilize Output? Evidence from Panel Data  
 WP58 Disaggregate Analysis of Broad Money and Outlook of Key Monetary Aggregates  
 WP57 Does Uncovered Interest rate Parity Hold After All?  
 WP56 The RBC View of Pakistan: A Declaration of Stylized Facts and Essential Models  
 WP55 Sticky Wages in a Developing Country: Lessons from Structured Interviews in Pakistan  
 WP54 Quarterisation of National Income Accounts of Pakistan Data WP54
 WP53 Estimation of Discount Factor b and Coefficient of Relative Risk Aversion y in Selected Countries  
 WP52 Intrinsic Inflation Persistence in a Developing Country  
 WP51 Determinants of Foreign Direct Investment to Developing Countries  
 WP50 Construction and Seasonal Patterns of Islamic Hijri Calendar Monthly Time Series: An Application to Consumer Price Index (CPI) in Pakistanl  
 WP49 Monetary Transmission in Pakistan: The Balance Sheet Channel  
 WP48 Price and Income Elasticity of Imports: The case of Pakistan  
 WP47 Pakistan Economy DSGE Model with Informality   -  [Technical Supplement]  
 WP46 Estimating Standard Error of Inflation in Pakistan: A Stochastic Approach  
 WP45 Bank Lending and Monetary Shocks: Evidence from a Developing Economy  
 WP44 The Relationship between Inflation and Relative Price Variability in Pakistan  
 WP43 Power, Profits and Inflation: A Study of Inflation and Influence in Pakistan  
 WP42 Formal Sector Price Discoveries: Preliminary Results from a Developing Country  
 WP41 The Financial Accelerator: An Emerging Market Story  
 WP40 Optimal Taxation, Inflation and the Formal and Informal Sectors  
 WP39 Detection and Forecasting of Islamic Calendar Effects in Time Series Data:
 WP38 Asymmetric Shocks and Co-movement of Price Indices  
 WP37 Procyclical Monetary Policy and Governance  
 WP36 Stability of Money Demand Function in Pakistan  
 WP35 Exchange Market Pressure Index in Pakistan  
 WP34 A Small-size Macroeconometric Model for Pakistan Economy  
 WP33 The Size of Informal Economy in Pakistan  
 WP32 Ramadan Effect on Price Movements: Evidence from Pakistan  
 WP31 Dutch Disease Investigated: Empirical Evidence from Selected South-East Asian Economies  
 WP30 An Analysis of Exchange Rate Risk Exposure Related to Public Debt Portfolio of Pakistan: Beyond Delta-Normal VAR Approach  
 WP29 Political Instability and Inflation in Pakistan  
 WP28 Concentration and Competition in Banking Sector of Pakistan: Empirical Evidence  
 WP27 External Debt Sustainability Analysis for Pakistan: Outlook for the Medium Term  
 WP26 Sources of Real Exchange Rate Misalignment Evidence from Pakistan  
 WP25 Monetary Targeting in Pakistan: A Skeptical Note  
 WP24 Estimating Output Gap for Pakistan Economy: Structural and Statistical Approaches  
 WP23 Pakistan's Export Potential-A Gravity Model Analysis  
 WP22 Short-Run Effects of an Unanticipated Change in Monetary Policy: Interpreting Macroeconomic Dynamics in Pakistan  
 WP21 An Analysis of Pakistan Vulnerability to Crisis  
 WP20 Financial Development and Textile Competitiveness-A Case Study of Pakistan  
 WP19 Choice of Monetary Policy Regime: Should SBP Adopt Inflation Targeting  
 WP18 Evaluating Core Inflation Measures in Pakistan  
 WP17 Estimating Quarterly Gross Fixed Capital Formation  
 WP16 Forecasting Profitability, Earnings, and Corporate Taxes: Evidence from UK Companies  
 WP15 Determining Import Intensity of Exports for Pakistan  
 WP14 Effectiveness of Foreign Exchange Intervention Evidence from Pakistan  
 WP13 Corporate Tax Models: A Review  
 WP12 An Empirical Investigation of Cost Efficiency in the Banking Sector of Pakistan  
 WP11 Monetary Conditions Index for Pakistan  
 WP10 Macro Determinants of Total Factor Productivity in Pakistan  
 WP09 Transmission Mechanism of Monetary Policy in Pakistan  
 WP08 Inflation and Growth: An Estimate of the Threshold Level of Inflation in Pakistan  
 WP07 Monetary Aggregates in Pakistan: Theoretical and Empirical Underpinnings  
 WP06 Defence Expenditure and Macroeconomic Stabilization: Causality Evidence from Pakistan  
 WP05 Exchange Rate Pass-Through to Domestic Prices in Pakistan  
 WP04 Core Inflation Measures for Pakistan  
 WP03 Workers’ Remittances, Resident FCAs and Kerb Premium: A Cointegration Analysis  
 WP02 Detection and Forecasting of Islamic Calendar Effects in Time Series Data  
 WP01 Long-run Trend, Business Cycles and Short-run Shocks in Real GDP  


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