01894cas a2200253 a 4500 AALejournalIMF003960 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451863208 1018-5941 BD-DhAAL BD-DhAAL Khan, Mohsin. Inflation in Pakistan : Money or Wheat? / Mohsin Khan, Axel Schimmelpfennig. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Schimmelpfennig, Axel. IMF Working Papers; Working Paper ; No. 2006/060 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/060/001.2006.issue-060-en.xml IMF e-Library