2  Mohsin S. Khan and Axel Schimmelpfennig: Inflation in Pakistan: Money or Wheat? Paper presented in SBP conference, November 2005. 3  The authors use the Hodrick-Prescott filter to reduce volatility in the data which potentially removes relevant information. Furthermore, in a single country case, the threshold will be restricted to be within the range of inflation experienced by that country.
BIS Review 55/2006  3  An SBP Working Paper on the transmission mechanism of monetary policy 4 studies the relative importance of four channels through which monetary policy shocks are transmitted in Pakistan.