Economics, Econometrics and Finance
5 years ago

Monetary Factors Drive Inflation in Pakistan, Wheat Support Price Matters.

IMF Working Paper
Inflation in Pakistan: Money or Wheat?
Mohsin S. Khan, Axel Schimmelpfennig

Paper Summary

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The article examines what causes inflation in Pakistan, focusing on whether it is driven more by money supply or wheat prices. The researchers looked at data from 1998 to 2005 and found that changes in money supply have a bigger impact on inflation in the long term, with a delay of about a year. On the other hand, changes in wheat prices affect inflation in the short term but not in the long run. Additionally, the impact of wheat prices on inflation only lasts for a medium-term if supported by monetary policy.