TY - BOOK ID - 11266507 TI - Inflation in Pakistan : money or wheat? AU - Khan, Mohsin S. AU - Schimmelpfennig, Axel. AU - International Monetary Fund. PY - 2006 SN - 1451863209 1462349811 1451908563 9786613829894 1452716854 1283517442 PB - [Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., DB - UniCat KW - Electronic books. -- local. KW - Finance -- Pakistan -- Econometric models. KW - Inflation (Finance) -- Pakistan -- Econometric models. KW - Finance KW - Business & Economics KW - Money KW - Inflation (Finance) KW - Econometric models. KW - Funding KW - Funds KW - Economics KW - Currency question KW - Natural rate of unemployment KW - Inflation KW - Macroeconomics KW - Money and Monetary Policy KW - Price Level KW - Deflation KW - Agriculture: Aggregate Supply and Demand Analysis KW - Prices KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Monetary economics KW - Agricultural prices KW - Price incentives KW - Consumer price indexes KW - Monetary base KW - Price indexes KW - Money supply KW - Pakistan UR - https://www.unicat.be/uniCat?func=search&query=sysid:11266507 AB - This paper examines the relative importance of monetary factors and structuralist supply-side factors for inflation in Pakistan. A stylized inflation model is specified that includes standard monetary variables (money supply, credit to the private sector), the exchange rate, as well as the wheat support price as a supply-side factor that has received considerable attention in Pakistan. The model is estimated for the period January 1998 to June 2005 on a monthly basis. The results indicate that monetary factors have played a dominant role in recent inflation, affecting inflation with a lag of about one year. Changes in the wheat support price influence inflation in the short run, but not in the long run. Furthermore, the wheat support price matters only over the medium term if accommodated by monetary policy. ER -