SBP Working Paper Series STATE BANK OF PAKISTAN
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Interest Rate<br />
Nominal GM2<br />
Figure 8: IRFs from VAR Models<br />
Shock GDP Inflation Q-o-Q<br />
Response of LGDP to 1% GM2 Shock<br />
Response of INFQOQ to 1% GM2 Shock<br />
.006<br />
.002<br />
.004<br />
.001<br />
.002<br />
.000<br />
.000<br />
-.001<br />
-.002<br />
-.002<br />
-.004<br />
2 4 6 8 10 12 14 16 18 20<br />
-.003<br />
2 4 6 8 10 12 14 16 18 20<br />
Response of LGDP to -1% TBR6 Shock<br />
Response of INFQOQ to -1% TBR6 Shock<br />
.008<br />
.003<br />
.004<br />
.002<br />
.001<br />
.000<br />
.000<br />
-.004<br />
-.001<br />
2 4 6 8 10 12 14 16 18 20<br />
-.002<br />
2 4 6 8 10 12 14 16 18 20<br />
Quarters<br />
Quarters<br />
44
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