The aim of present study was to explore existence of long-run association between consumption, income and investment implied by Balanced Growth proposition of Neo-classical-growth-model of the Solow and Swan (1956). Using quarterly data on consumption, income and investment from 1995q1 through 2018q4. The study have tested the balanced growth hypothesis for the Denmark. Using standard Vector-Auto-Regression technique of Johansen (1988) and Johansen and Juselius (1990) analysed the output shocks to both consumption and investment. Although, there exists cointegration implying long run relationship, the results are not consistent with the balanced-growth-hypothesis (BGH) with given data sample for Denmark.

The paper estimates the effects of trade reforms on workers' earnings in Pakistan's manufacturing sector during 1995-2015, employing data from 14 rounds of the Pakistan Labour Force Survey. OLS technique has been used for estimation and separate analysis for workers engaged in informal manufacturing activities is also undertaken. The results indicate that a tariff fall on intermediate products is associated with a rise in real earnings of workers employed in the manufacturing sector during this period, while a corresponding decline in tariffs on final goods has no effect on worker's wages. The results show that real wages of workers employed in the mainly export oriented industries of food, beverages and tobacco, textiles, apparel and leather and non-metallic mineral industries have declined over the twenty years period of trade reforms implemented in Pakistan. On the other hand, real wages are observed to have increased in the chemical and petroleum and basic metals industries.

In the 1980s, Pakistan's financial reforms reduced central bank borrowing, raising government debt and tax collection needs. In this context, the conventional approach to evaluating the costs and benefits of low inflation proves inadequate. The sacrifice ratio (SR) focuses on demand contraction's impact on economic activity and fails to capture the true costs of inflation by overlooking the supply-side effects of reduced fiscal space. This study re-evaluates the SR, accounting for both the demand contraction channel and the long-term supply side impact of diminished fiscal space. We hypothesize that the cumulative costs outweigh the long-term benefits of price stability. By incorporating fiscal space scenarios into the time-series model for SR estimation; our results indicate an SR approximately double that found in earlier studies. These findings highlight the importance of incorporating fiscal implications into monetary policy decisions to support sustainable economic growth.