This paper empirically examines the effect of foreign capital inflows on domestic price levels, monetary expansion, and the exchange rate volatility for Pakistan using linear and nonlinear causality tests. The key message emerging from the analysis is that there is a significant inflationary...

The link between public and private investment is investigated using annual data for the period 1964–65 to 2004–05. The estimates based on the structural cointegration approach indicate that both are cointegrated and public investment crowds in private investment. The study then...

This study empirically investigates how shocks to monetary policy measures (short-term nominal interest rate and broad money supply) affect economic aggregates: output growth, price levels and nominal exchange rate. The study is carried out for Pakistan using quarterly data covering the period...

This study tests the purchasing power parity hypothesis for four South Asian economies and China by employing a recent nonlinear test of stationarity. Besides testing the CPI based PPP, we have also used PPI based real exchange rate in the analysis. The results indicate that nonlinear tests are...

Purpose – The purpose of this paper is to empirically examine the extent at which idiosyncratic and financial market uncertainty affect the UK private manufacturing firms' investment decisions. Design/methodology/approach – A firm-level panel data covering the period from 1999 to 2008 drawn...

This paper estimates the structural import demand function for Pakistan using a theoretical framework developed by Emran and Shilpi (2010). ARDL and DOLS techniques are used to estimate the log-run price and income elasticities. The results of cointegration analysis provide strong evidence of...

This paper empirically investigates the effects of 2008 financial crisis on exchange rate determination in PPP-UIP framework for four emerging countries, using monthly date over the period 1981-2012. The results suggest that the recent financial crisis led to change the role of exchange rate...

This paper empirically investigates the effects of macroeconomic and firm-specific risk on firms' leverage. The analysis is carried out for a large panel of public and non-public UK manufacturing firms over the period 1999-2008. Our investigation provides evidence that UK manufacturing firms use...

Using a sample of 102 UK energy firms over the period 1981–2009, this paper empirically examines the effects of uncertainty on firms' leverage decisions. The results indicate that both firms-specific and macroeconomic uncertainty have negative, sizeable, and statistically significant impacts...

Using an autoregressive distributed lag (ARDL) approach, this paper empirically analyses whether the response of inflation to its determinants differs at short and long horizons. The results from the bounds test provide evidence of the existence of a significant long-run relationship between...