The study looked at how money, prices, interest rates, and output in Pakistan are connected. They used data from 1972 to 2009 and found that there is a stable relationship between these variables in the long run. Money supply and interest rates affect prices, and money supply affects output. Inflation in Pakistan is influenced by both monetary factors and structural factors, not just by changes in money supply. This suggests that controlling inflation requires looking at both monetary policy and the supply side of the economy.