Working to Improve Price Indices Development in Pakistan

Given the importance of Consumer Price Index (CPI), there has been long debate on its measurement issues. It is the best and most well-known indicator of inflation, which is further used for evaluating the monetary and fiscal policy of a country. Other uses of CPI for indexation are social security benefits, rents, contractual payments, taxation, deflating national income accounts, purchasing power parity index, inflation incidence for different income groups of population, impact of inflation on demographic composition of the population. Any measurement error in CPI may overstate or understate inflation that will have serious repercussions for monetary, fiscal and other economic policies. The report of the Boskin Commission [Boskin, et al. (1996)] has identified possible sources of bias in the CPI like substitution bias, outlet bias, quality bias, new product bias. In this paper we have tried to evaluate these biases and to start a debate on improving Consumer Price Index (CPI) construction in Pakistan. We found that there are biases of Commodity Substitution Bias, Outlet Substitution Bias, Quality Adjustment Bias, Index Calculation Bias and New Product Bias. Other limitations for the CPI index including; Issue of selecting a representative product (or good), Defining issue of average quality, Data collection, weights determination and Base year change were also found.Consumer Price Index, Biases in CPI, CPI Formulae

Working to Improve Price Indices Development in Pakistan

Given the importance of Consumer Price Index (CPI), there has been long debate on its measurement issues. It is the best and most well-known indicator of inflation, which is further used for evaluating the monetary and fiscal policy of a country. Other uses of CPI for indexation are social security benefits, rents, contractual payments, taxation, deflating national income accounts, purchasing power parity index, inflation incidence for different income groups of population, impact of inflation on demographic composition of the population. Any measurement error in CPI may overstate or understate inflation that will have serious repercussions for monetary, fiscal and other economic policies. The report of the Boskin Commission [Boskin, et al. (1996)] has identified possible sources of bias in the CPI like substitution bias, outlet bias, quality bias, new product bias. In this paper we have tried to evaluate these biases and to start a debate on improving Consumer Price Index (CPI) construction in Pakistan. We found that there are biases of Commodity Substitution Bias, Outlet Substitution Bias, Quality Adjustment Bias, Index Calculation Bias and New Product Bias. Other limitations for the CPI index including; Issue of selecting a representative product (or good), Defining issue of average quality, Data collection, weights determination and Base year change were also found.Consumer Price Index, Biases in CPI, CPI Formulae

Saving-investment Behaviour in Pakistan: An Empirical Investigation

This paper explores the saving-investment behaviour in Pakistan by identifying their patterns over time and across selected Asian countries. Further potential determinants were empirically tested, based on theoretical foundations of modelling for saving and investment behaviour. Savings in Pakistan for our sample period showed a positive response to GDP growth and government current expenditure while it remained insensitive to interest rates. On the other side, domestic savings and short-run expected returns positively affected investment whereas uncertainty reduced investment.saving Investment, Pakistan

Least common multiple of teacher leadership styles: Implication for classroom

In a school, a teacher, as a leader, interacts directly with the students to develop their cognition for a desired outcome. At the same time s/he also forms a caring relationship with them not only to guide them academically but also socially and spiritually. Students also have certain capacity for their own learning. This capacity to large extent influences by teacher’s role in the classroom. Hence three factors have major influence to shape effectiveness of a classroom. In the study reported in this paper, combinations of these factors were sought and presented in three dimensional models. Eight different combinations (models) emerged by considering extreme existence (+) or extinction (-) of the three factors in order to specify a particular leadership style for teacher leadership. In order to explore the implication of these different styles in a classroom, a list of eight most important aspects of a classroom were identified through literature and later on validated by experts and practitioners. The influence of the above three factors on these eight aspects were opined from experienced teachers and head teachers. Most of the teachers and head teachers opined that the presence of all the three factors is essential for an effective classroom

MRI guided functional neurosurgery at l.g.h: the beginning of a new era

Lahore General Hospital has the credit of being pioneer of “Functional Neurosurgery in Pakistan” when Prof. Bashir Ahmad started the Department of Neurosurgery at LGH in 1966. Prof. BashirAhmad, Prof. Nazir Ahmad and Late Prof. Javed MajidMian had done lot of work and performedThalamotomiesfor Parkinsoniantremor

Planning sediment distribution in surface irrigation systems

CER73-74KM19.November 1971.Council of U.S. Universities for Soil and Water Development in Arid and Sub-humid Areas.Bibliography: page 58.Prepared under support of United States Agency for International Development, Water management research in arid and sub-humid lands of the less developed countries.This report deals with planning sediment load distribution in surface irrigation systems. The object is to route water and sediment through an irrigation canal network so that sediment discharge equilibrium is achieved by diverting the sediment inflow with the farm supplies. A computer-simulated canal network is used for the routing, and following problems are identified: (1) The sediment transport capacity in a branching canal network reduces in the downstream direction, mainly because smaller channels cannot transport their proportional share of the sediment load in the system. (2) The sediment transport capacity of farm watercourse channels is especially limited, and sediment discharge non equilibrium in these channels can cause frequent interruption to farm water deliveries. (3) Sediment inflow on farm units necessitates recurrent land levelling. General principles for planning the sediment routing are derived. Results of laboratory and computer studies of sediment withdrawal in farm turnouts are also presented. The design of system components, so as to achieve sediment discharge equilibrium, is illustrated by a numerical example. Subject areas, where existing knowledge is deficient or unavailable, are also identified; and specific topics for field research are suggested.Under contract no. AID/csd-2162

Social Relations & Psychological Adjustment among Adult Children of Parents with Depression and Anxiety

The present study explored the level social relation and psychological adjustment among adult children of parents with depression and anxiety. The main objective of the study was to see the relationship between social relation, psychological adjustment among the children of depressed and anxious parents. It was hypothesized that there is significant relationship between social relation and psychological adjustment among the children of depressed and anxious parents. It was also assumed that the significant differences will exist on social relation and psychological adjustment among the male and female children of depressed and anxious parents. It was a correlation study in which correlational and comparative research design was used. The total sample size was one hundred and twenty (N = 120) which consists of sixty males and sixty females. The sample was selected through the purposive sampling technique. Children were asked to fill the scales named as Provision of Social Relation Scale and Psychological Adjustment Scale to measure the level of social relation and psychological adjustment among the children of depressed and anxious parents. Statistical Package of Social Sciences version 17 (SPSS-17) was used for statistical analysis. The result showed that there is significant positive relationship between social relation and psychological adjustment. Further the results showed that there is significant difference between males and females on social relation and psychological adjustment among the children of depressed and anxious parents. The scores of female children were higher on social relation and psychological adjustment than male children of the depressed and anxious parents. Keywords: Social relations, Psychological Adjustment, Anxiety, Depressio

Final report first review meeting Alluvial channel observation project (ACOP)

CER 74-75KM7.To Office of International Programs, National Science Foundation.September 1974.Alluvial Channel Observation Project, ACOP is a Special Foreign Currency Cooperative Research Project funded by a NSF grant to Water and Power Development Authority, Pakistan. The Project was inaugurated in Pakistan in January-February, 1974, and since then considerable progress has been made in the organization, staffing and field work. A review meeting was held at Colorado State University from August 8 to August 11, 1974. This was attended by Mr. R.A. Qureshi, General Manager, Water, WAPDA and Project Manager, ACOP, and Mr. Riaz N. Tarar, Project Director and Principal Investigator, ACOP from Pakistan. The review meeting was followed by a visitation of the Pakistani scientists and the U.S. Cooperating Scientist to various Federal Agencies interested in the mechanics of alluvial channels. The review meeting and the following visitation was sponsored by the supplementary a NSF grant to Colorado State University. This completion report narrates the discussions and the decisions of the review meeting. It also covers the visit of the Pakistani scientists to U.S. Federal Agencies.NSF Grant GF-39653.Supplementary NSF Grant OIP-74-08440 AO1

Harold Demsetz. From Economic Man to Economic System: Essays on Human Behaviour and Institutions of Capitalism. New York, USA. 2011. 198 pages. U.S. $ 39.99

Harold Demsetz,Emeritus Professor of Business Economics at the University of California, Los Angeles, has done an excellentjob of putting together research in the area of human behaviour and the influence of institutions thereon. Demsetz is one of the leading figures of the New Institutional Economics School. In this book, his focus is on the institution of capitalism, which is by far the most influential systemprevalent now. It presents and reviews historical developments in the area and cites influential works, which makes the book a very interesting read. The book is nottechnical and is meant for a broad readership