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MACROECONOMIC IMPACTS OF FISCAL POLICY SHOCKS IN PAKISTAN: A NEW KEYNESIAN FRAMEWORK

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dc.contributor.author Saeed, Zaeem
dc.date.accessioned 2023-10-08T11:57:44Z
dc.date.available 2023-10-08T11:57:44Z
dc.date.issued 2018
dc.identifier.uri http://10.250.8.41:8080/xmlui/handle/123456789/39640
dc.description Supervisor: Dr. Ather Maqsood Ahmed en_US
dc.description.abstract This study has adopted a new-Keynesian dynamic stochastic general equilibrium framework developed by (Bhattarai & Treziciakiewicz, 2016) to analyze the business cycle effects of fiscal policy shocks within the economy of Pakistan. We identified the most effective fiscal policy tools for controlling debt to GDP ratio, budget deficit and stabilization of economy. We have used calibration method to generate impulse response functions using the parameters available for the economy of Pakistan and followed the propagation mechanism of the shocks that are given to the economy through expenditure and revenue side of fiscal policy. In our results, we have found that government investment, consumption and income tax play the most important role in controlling for debt to GDP ratio. Income tax and government investment has procyclical response to GDP. In short run, government consumption and investment shocks are most effective while in long run government investment and income tax shock are found to be most effective. Our results also indicated that real and nominal frictions play an important part in transmission mechanism of fiscal policy. en_US
dc.language.iso en_US en_US
dc.publisher School of Social Sciences and Humanities (S3H), NUST en_US
dc.subject Fiscal policy shocks, New-Keynesian framework, Economy of Pakistan, real and nominal frictions. en_US
dc.title MACROECONOMIC IMPACTS OF FISCAL POLICY SHOCKS IN PAKISTAN: A NEW KEYNESIAN FRAMEWORK en_US
dc.type Thesis en_US


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