Impact of Money Supply and Exchange Rate on Agricultural Prices in Pakistan
AbstractThis study analyzed the impact of the long-run neutrality of money supply and exchange rate on Pakistan's agricultural prices using data from 1975 to 2019. Engle and Granger and Johansen and Jusileius techniques were used to analyze the data. The results showed that the exchange rate's neutrality does not hold in the long-run. Simultaneously, the money supply coefficient was found to be insignificant in the long-run, emphasizing money's neutrality. The study concluded that monetary authorities can control the exchange rate by designing and implementing appropriate policies to overcome the overshoot problem of agricultural prices in Pakistan.
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