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Ramadan Effect on Price Movements: Evidence from Pakistan

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  • Muhammad Akmal
  • Muhammad Usman Abbasi

Abstract

This paper attempts to verify the widespread perception that general price level tends to rise due to the month of Ramadan in Pakistan. For this purpose, the ARIMA methodology (simple and extended form), along with simple graphical and scenario analysis, has been applied on the monthly data for overall, food and non-food indices of consumer prices in Pakistan from July 1991 to December 2008. URL:[http://www.sbp.org.pk/publications/wpapers/2010/wp32.pdf]

Suggested Citation

  • Muhammad Akmal & Muhammad Usman Abbasi, 2011. "Ramadan Effect on Price Movements: Evidence from Pakistan," Working Papers id:3937, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:3937
    Note: Institutional Papers
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    References listed on IDEAS

    as
    1. Riaz Riazuddin & Mahmood ul Hasan Khan, 2005. "Detection and Forecasting of Islamic Calendar Effects in Time series Data," SBP Research Bulletin, State Bank of Pakistan, Research Department, vol. 1, pages 25-34.
    2. International Monetary Fund, 2005. "Three Attempts at Inflation Forecasting in Pakistan," IMF Working Papers 2005/105, International Monetary Fund.
    3. Yucel, Eray M., 2005. "Does Ramadan Have Any Effect on Food Prices: A Dual-Calendar Perspective on the Turkish Data," MPRA Paper 1141, University Library of Munich, Germany.
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    Cited by:

    1. Kazi Abrar Hossain & Syed Abul Basher & A.K. Enamul Haque, 2018. "Quantifying the impact of Ramadan on global raw sugar prices," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing Limited, vol. 11(4), pages 510-528, June.

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    More about this item

    Keywords

    pakistan; ramdan; data; government activism; price level; monthly data; food; non-food; indices; consumer prices; economic time series; ramadan; ARIMA methodology;
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