Asad Zaman

Pakistan Institute of Development Economics

Vice Chancellor

Quaid-i-Azam University Campus

P.O.Box 1091

Islamabad, Federal Capital 44000

Pakistan

SCHOLARLY PAPERS

57

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CITATIONS
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33

Scholarly Papers (57)

1.

Islamic Economics: A Survey of the Literature

University of Birmingham: Religions and Development Research Programme, Working Paper No. 22
Number of pages: 158 Posted: 12 Oct 2008 Last Revised: 25 Sep 2014
Asad Zaman
Pakistan Institute of Development Economics
Downloads 1,458 (6,768)
Citation 4

Abstract:

Islamic Economics

2.

The Rise and Fall of the Market Economy

Review of Islamic Economics, Vol. 14, No. 2, 2010, pp. 123-155
Number of pages: 33 Posted: 06 Sep 2012
Asad Zaman
Pakistan Institute of Development Economics
Downloads 655 (10,306)
Citation 1

Abstract:

Market Economy, Market Society, Capitalism

3.

Measuring the Systematic Risk of IPO's Using Empirical Bayes Estimates in the Thinly Traded Istanbul Stock Exchange

International Journal of Business, Vol. 8, No. 3, 2003, Cass Business School Research Paper, CUBS Finance Working Paper No. 07
Number of pages: 20 Posted: 19 Aug 2003
Queen Mary University of London, Pakistan Institute of Development Economics and Fatih University - Department of Economics
Downloads 451 (49,592)

Abstract:

Empirical Bayes method, Beta estimation, Forecasting, Capital Asset Pricing Model, Initial public offering

4.

The Empirical Evidence Against Utility Maximization

published with title changed to:" The Empirical Evidence Against Neoclassical Utility Theory: A Review of the Literature," International Journal of Pluralism and Economics Education, Vol. 3, No. 4, 2012, pp. 366-414
Number of pages: 59 Posted: 04 Apr 2012 Last Revised: 28 Jul 2013
Asad Zaman and Mehmet Karacuka
Pakistan Institute of Development Economics and Ege University - Faculty of Economic and Administrative Sciences
Downloads 284 (37,650)
Citation 1

Abstract:

behavioral economics, utility theory

5.

Review of 'House of Debt' by Atif Mian & Amir Sufi

Pakistan Development Review, vol 52, #3, Forthcoming
Number of pages: 14 Posted: 02 Nov 2014 Last Revised: 21 Nov 2014
Asad Zaman
Pakistan Institute of Development Economics
Downloads 239 (51,990)

Abstract:

Great Depression, Global Financial Crisis, Debt-Deflation, Levered Debt

6.

Methodological Mistakes and Econometric Consequences

International Econometric Review, Vol 4. Issue 2, p. 99-122, September 2012
Number of pages: 24 Posted: 03 Sep 2012
Asad Zaman
Pakistan Institute of Development Economics
Downloads 237 (64,220)
Citation 1

Abstract:

Econometric Methodology, logical positivism, realism, causality, VAR models, Forecasting, surprise, goodness of fit

7.

The Methodology of Polanyi's Great Transformation

Pre-publication version of: Zaman, A. (2016) ‘The Methodology of Polanyi’s Great Transformation.’ Economic Thought, 5.1, pp. 44-63,
Number of pages: 20 Posted: 22 Jun 2014 Last Revised: 28 May 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 227 (61,863)

Abstract:

Methodology, Social Science, Capitalism, Liberalism

8.

Corruption: Measuring the Unmeasurable

Humanomics, Vol. 25, No. 2, pp. 117-126, June 2009
Number of pages: 19 Posted: 03 Dec 2008 Last Revised: 30 Sep 2009
Asad Zaman and Faiz Rahim
Pakistan Institute of Development Economics and International Islamic University, Islamabad - Faculty of Social Sciences
Downloads 189 (114,774)
Citation 1

Abstract:

Corruption, Measurement, Corruption Perception Index

9.

The Origins of Western Social Sciences

Journal of Islamic Economics, Banking and Finance, Vol. 5, No. 2, pp. 9-22, 2009
Number of pages: 13 Posted: 12 Mar 2009 Last Revised: 17 Sep 2010
Asad Zaman
Pakistan Institute of Development Economics
Downloads 168 (109,775)
Citation 1

Abstract:

Social Science, Islamization of Knowledge

10.

Islamic Approaches to Fundamental Economic Problems

Number of pages: 36 Posted: 14 Mar 2013 Last Revised: 30 Jul 2013
Asad Zaman
Pakistan Institute of Development Economics
Downloads 167 (95,469)

Abstract:

Scarcity, Economic Growth, Islamic Economics

11.

Interest and the Modern Economy

The Lahore Journal of Economics, Vol. 6, No.1, pp. 113-127, 2002
Number of pages: 12 Posted: 31 Jan 2009
Arshad Zaman and Asad Zaman
Independent Scholar and Pakistan Institute of Development Economics
Downloads 166 (117,973)

Abstract:

Islamic Economics, prohibition of interest

12.

An Islamic Version of the Iceland Plan for Monetary Reform

Conference on “Advancements in Islamic Finance and Business in the 21st Century” organized by FAST-NUCES, on Islamabad Campus of National University of Computers & Emerging Sciences [NUCES], on April 24-25, 2015. ,
Number of pages: 17 Posted: 15 Apr 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 145 (102,013)

Abstract:

Islamic Economics, Elimination of Interest, Chicago Plan, Monetary Reform

13.

Death of a Metaphor: The Invisible Hand

Number of pages: 17 Posted: 30 Jun 2012 Last Revised: 24 Feb 2013
Asad Zaman
Pakistan Institute of Development Economics
Downloads 144 (148,661)

Abstract:

the invisible hand, models

14.

On the Nature of Modern Money

Number of pages: 35 Posted: 17 Dec 2014 Last Revised: 06 Jun 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 142 (132,119)

Abstract:

Chicago Plan, Islamic Finance, History of Banking, Economic Justice, Debt

15.

Islam versus Economics

pre-publication Draft: Chapter 2 in Handbook on Islam and Economic LIfe, edited by Kabir Hassan and Mervyn Lewis, Edward Elgar Press, (2015).
Number of pages: 26 Posted: 28 Jul 2013 Last Revised: 24 Jun 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 124 (101,614)
Citation 1

Abstract:

Islamic Economics, Human Development, Wealth, Waqf

16.

Logical Positivism and Islamic Economics

International Journal of Economics, Management and Accounting, Vol 21, No. 2, pp1-18. published by International Islamic University of Malaysia
Number of pages: 24 Posted: 02 Jan 2013 Last Revised: 18 Apr 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 121 (129,522)

Abstract:

17.

Deification of Science and Its Disastrous Consequences

Forthcoming, International Journal for Pluralism in Economics Education
Number of pages: 19 Posted: 04 May 2013 Last Revised: 12 Jul 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 119 (108,869)

Abstract:

Methodology, Hypothetico-Deductive, Axiomatic, Induction, Normative Positive Distinction

18.

Post Positivist Probability

Number of pages: 14 Posted: 22 Dec 2008
Asad Zaman
Pakistan Institute of Development Economics
Downloads 119 (180,254)

Abstract:

probability, foundations, Bayesian, Frequentist, positivism

19.

Failures of the 'Invisible Hand'

Forum for Social Economics, Vol. 45, Iss. 1, 2016
Number of pages: 27 Posted: 19 Jul 2013 Last Revised: 23 Jul 2016
Rafi Amir-ud-Din and Asad Zaman
International Islamic University, Islamabad and Pakistan Institute of Development Economics
Downloads 104 (125,362)

Abstract:

invisible hand, market economy, traditional society, East Asian financial crisis, trade barriers

20.

Towards a New Paradigm for Economics

Journal of Islamic Economics, Vol. 18, No. 2, pp. 49-59, 2005
Number of pages: 7 Posted: 22 Dec 2008
Asad Zaman
Pakistan Institute of Development Economics
Downloads 104 (179,132)
Citation 2

Abstract:

poverty, lexicographic utility income distribution

21.

A Method for Detecting Structural Breaks and an Application to the Turkish Stock Market

METU Studies in Development, Vol. 27, No. 1-2, pp. 35-45, 2000
Number of pages: 10 Posted: 31 Jan 2009
Erdem Basci, Sidika Basci and Asad Zaman
Bilkent University - Department of Economics, ESTIM Forecasting Center and Pakistan Institute of Development Economics
Downloads 93 (215,654)

Abstract:

structural change, sup F test, rolling Chow test, Bootstrap

22.

Tests for Normality Based on Robust Regression Residuals

DEVELOPMENTS IN ROBUST STATISTICS, R. Dutter, P. Filzmoser, U. Gather, & P.J. Rousseeuw, eds., 2003
Number of pages: 13 Posted: 13 Mar 2009
A. Ozlem Onder and Asad Zaman
Ege University - Department of Economics and Pakistan Institute of Development Economics
Downloads 92 (212,740)

Abstract:

robust regression, normality test, OLS residuals, robust residuals

23.

Challenging the Current Economics Curriculum: Creating Challengers and Change

pre-publication draft Chapter 2 of edited volume: "Challenging the Current Economics Curriculum" editors Maria Alejandra Madi and Jack Reardon. Forthcoming
Number of pages: 13 Posted: 08 Aug 2014 Last Revised: 27 Oct 2014
Asad Zaman
Pakistan Institute of Development Economics
Downloads 88 (194,171)

Abstract:

Spiritualilty, Morality, Logical Positivism, Purpose

24.

Charity and Gift Exchange in Pakistan

Number of pages: 23 Posted: 31 Aug 2009 Last Revised: 19 Aug 2014
Saima Naeem and Asad Zaman
State Bank of Pakistan and Pakistan Institute of Development Economics
Downloads 88 (220,205)

Abstract:

gift exchange, charity Giving

25.

The Normative Foundations of Scarcity

Number of pages: 21 Posted: 18 Feb 2010 Last Revised: 07 Jun 2012
Asad Zaman
Pakistan Institute of Development Economics
Downloads 87 (138,974)
Citation 2

Abstract:

scarcity, logical positivism, methodology, normative positive distinction, fact value distinction

26.

Causal Relations via Econometrics

International Econometric Review, Vol 2, No. 1, p 36-56, April 2010
Number of pages: 31 Posted: 07 Apr 2009 Last Revised: 03 Sep 2012
Asad Zaman
Pakistan Institute of Development Economics
Downloads 87 (182,435)

Abstract:

causality, regression, exogeneity, Hendry methodology, natural experiments

27.

Developing an Islamic World View: An Essential Component of an Islamic Education

Lahore Journal of Policy Studies, Vol. 1, No. 1, pp. 95-105, 2007
Number of pages: 14 Posted: 17 Sep 2010
Asad Zaman
Pakistan Institute of Development Economics
Downloads 79 (200,457)

Abstract:

Islamic education, secular education

28.

Tests for Structural Change, Aggregation, and Homogeneity

Economic Modelling, Forthcoming
Number of pages: 31 Posted: 19 Feb 2010
Emory University, Pakistan Institute of Development Economics and Cornell University
Downloads 73 (257,832)

Abstract:

29.

On the Impossibility of Events of Zero Probability

Theory and Decision, Vol. 23, No. 2, 1987
Number of pages: 2 Posted: 02 Jan 2009 Last Revised: 30 Jan 2009
Asad Zaman
Pakistan Institute of Development Economics
Downloads 67 (272,347)

Abstract:

impossibility, zero probability, foundations of probability

30.

Inconsistency of the Breusch-Pagan Test

Journal of Economic and Social Research, Vol. 2, No. 1, pp. 1-11, 2000
Number of pages: 10 Posted: 22 Dec 2008
Asad Zaman
Pakistan Institute of Development Economics
Downloads 59 (268,130)
Citation 1

Abstract:

Breusch-Pagan test, heteroskedasticity, test consistency

31.

Changing Point and Parameter Instability with Heteroskedastic Models

Number of pages: 16 Posted: 27 Jul 2014
Mumtaz Ahmed, Gulfam Haider and Asad Zaman
Cornell University, International Islamic University, Islamabad and Pakistan Institute of Development Economics
Downloads 57 (209,919)

Abstract:

Regime Shift, Heteroskedasticity, Bootstrap

32.

The Conflict between General Equilibrium and the Marshallian Cross

Number of pages: 31 Posted: 31 Aug 2009 Last Revised: 30 Jun 2012
Ismail Saglam and Asad Zaman
TOBB University of Economics and Technology and Pakistan Institute of Development Economics
Downloads 56 (190,468)

Abstract:

Curve, Partial Equilibrium, General Equilibrium

33.

Admissibility of the Maximum Likelihood Estimate of the Reciprocal of a Normal Mean with a Class of Zero-One Loss Functions

Sankhya: The Indian Journal of Statistics, Vol. 47, Series A, Part 2, pp. 239-246, 1985
Number of pages: 8 Posted: 31 Jan 2009
Asad Zaman
Pakistan Institute of Development Economics
Downloads 54 (300,119)

Abstract:

admissibility, statistical decision theory, generalized Bayes, reciprocal of a normal mean

34.

Building Genuine Islamic Financial Institutions

"Building Genuine Islamic Financial Institutions", Journal of Islamic Economics, Banking and Finance, Volume 11, Number 2 (April-June, 2015) pp 13-32, Presented at Conference on: Economics and Ethics” organized by the Center for Islamic Legislation and Ethics (CILE) in Doha, Qatar on the 10-12 of June 2014, Presented at 3rd International Conference on Islamic Business & Finance, at Riphah University, Islamabad, Pakistan on Feb 10-11, 2014,
Number of pages: 18 Posted: 25 Aug 2014 Last Revised: 29 May 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 53 (220,205)

Abstract:

Islamic Economics, Islamic Financial Institutions, Spirit of Capitalism, Cooperation, Generosity

35.

Econometric Applications of High-Breakdown Robust Regression Techniques

Economics Letters, Volume 71, Issue 1, April 2001, Pages 1-8, ISSN 0165-1765, 10.1016/S0165-1765(00)00404-3
Number of pages: 8 Posted: 24 Sep 2012
Pakistan Institute of Development Economics, Fatih University - Department of Economics and affiliation not provided to SSRN
Downloads 46 (224,700)
Citation 16

Abstract:

High breakdown estimates, Masking, Robust regression, Outlier, Leverage point, Least trimmed squares (LTS), Minimum covariance determinant (MCD)

36.

Variance Estimates and Model Selection

International Econometric Review. Vol. 2, No. 2, September 2010
Number of pages: 17 Posted: 10 Oct 2010
Asad Zaman, Sidika Basci and Arzdar Kiraci
Pakistan Institute of Development Economics, ESTIM Forecasting Center and Başkent University
Downloads 38 (339,632)

Abstract:

Autoregressive Process, Lag Order Determination, Model Selection Criteria, Cross Validation

37.

Objectives of Financial Institutions: Western and Islamic

Center for Islamic Legislation and Ethics (CILE): Seminar on Ethics & Economics, Doha, Qatar, 10-12 June, 2014
Number of pages: 23 Posted: 01 Oct 2014
Asad Zaman
Pakistan Institute of Development Economics
Downloads 33 (324,714)

Abstract:

Islamic Finance, Capitalism, Pursuit of Wealth, Institutions, social values

38.

The 'Invisible Hand'

Number of pages: 7 Posted: 04 Apr 2012
Asad Zaman
Pakistan Institute of Development Economics
Downloads 27 (333,590)

Abstract:

invisible hand, social welfare, selfish behavior

39.

A Minimax Bias Estimator for OLS Variances Under Heteroskedasticity

Number of pages: 16 Posted: 19 May 2014
Mumtaz Ahmed and Asad Zaman
Cornell University and Pakistan Institute of Development Economics
Downloads 23 (359,110)

Abstract:

Eicker-White, OLS, Bias, Worst Case Bias.

40.

Is Development Accumulation of Wealth? Islamic Views

Afro Eurasian Studies, 2013
Number of pages: 48 Posted: 23 Aug 2013
Asad Zaman
Pakistan Institute of Development Economics
Downloads 22 (324,714)

Abstract:

Development, Capitalism, Accumulation of Wealth, Power

41.

First Fundamental Economic Problem: Feeding the Hungry

Number of pages: 9 Posted: 02 Mar 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 20 (362,543)

Abstract:

Growth, Basic Needs, Conspicuous Consumption, Pareto Principle

42.

Re-Defining Islamic Economics

Presented at workshop on “Basic Concepts and Thoughts in Islamic Economics” held in Istanbul during 1-3 March 2013., To appear as chapter in Islamic Economics: Basic Concepts, New Thinking and Future Directions, editors Taha Egri & Necmettin Kizilkaya, Cambridge Scholars Publishing, 2015,
Number of pages: 28 Posted: 23 May 2015
Asad Zaman
Pakistan Institute of Development Economics
Downloads 17 (189,276)
Citation 1

Abstract:

Islamic Economics, Justice, Equity, Epistemology, Logical Positivism

43.

Anti-Poverty Policies and Anti-Poor Philosophies

Journal of Business and Economics Vol 2 Number 2 July-December 2010
Number of pages: 11 Posted: 02 Jun 2013
Asad Zaman
Pakistan Institute of Development Economics
Downloads 17 (392,957)

Abstract:

Poverty, SAP, Power Knowledge

44.

Maximum Likelihood Estimates for the Hildreth-Houck Random Coefficients Model

Econometrics Journal, Vol. 5, pp. 237-262, 2002
Number of pages: 26 Posted: 02 Dec 2002
Asad Zaman
Pakistan Institute of Development Economics
Downloads 17 (456,802)
Citation 1

Abstract:

Hildreth-Houck, Random coefficients, ML estimation, Asymptotic efficiency, Boundary constraints, Self-Liang, Superconsistency

45.

Power/Knowledge and Economic Theories

“Power/Knowledge and Economic Theories,” Lahore Journal of Policy Studies. vol 4, No 1, p. 71-78, 2011,
Number of pages: 8 Posted: 02 Jun 2013
Asad Zaman
Pakistan Institute of Development Economics
Downloads 15 (373,244)

Abstract:

Power Knowledge, History of Economic Thought

46.

Evaluating the Costs of Growth

Real World Economics Review, issue 67, 9 May 2014, page 41-51.
Number of pages: 11 Posted: 23 Sep 2014
Asad Zaman
Pakistan Institute of Development Economics
Downloads 14 (401,654)

Abstract:

Growth, Environment, Cost Benefit, Market Valuation, Non-Market Activities

47.

Charity and Gift Exchange: Cultural Effects

Voluntas: International Journal of Voluntary and Nonprofit Organizations, Forthcoming
Number of pages: 24 Posted: 12 Sep 2015
Saima Naeem and Asad Zaman
State Bank of Pakistan and Pakistan Institute of Development Economics
Downloads 6 (410,930)

Abstract:

Gift Exchange, Charitable Giving, Culture

48.

Implicit Nulls and Alternatives for Hypothesis Tests

revised version of CORE Discussion Paper No 1990022, UCL, Belgium -- original title: What Do Tests for Heteroskedasticity Detect?
Number of pages: 20 Posted: 23 Aug 2014
Jayasri Dutta and Asad Zaman
University of Birmingham - Department of Economics and Pakistan Institute of Development Economics
Downloads 5 (477,266)

Abstract:

Heteroskedasticity, Implicit Null, Implicit Alternative, Hypothesis Testing

49.

Gender and Ultimatum in Pakistan: Revisited

Pakistan Development Review, Vol 53, Number 1, Spring 2014, p 1-14
Number of pages: 25 Posted: 02 Jul 2015
Saima Naeem and Asad Zaman
State Bank of Pakistan and Pakistan Institute of Development Economics
Downloads 3 (430,861)

Abstract:

Ultimatum game, gender, cultural effects, generosity

50.

Markets and Society

Pre-publication Draft of "Unregulated Markets and the Transformation of Society" Chapter 18, Routledge Handbook of Ecological Economics: Nature and Society. Editor Clive Spash. 2016
Number of pages: 10 Posted: 22 Sep 2015 Last Revised: 23 Jul 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 1 (252,140)

Abstract:

Environmental Economics, Exploitation, The Great Transformation, Market Society,

51.

Monetary Paradoxes of Baby Sitting Cooperative

Number of pages: 15 Posted: 29 May 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (446,462)

Abstract:

Monetary policy, Keynesian economics, sunspot equilibria, neutrality of money

52.

Reviving the Promise of Islamic Economics

11th International Conference on Islamic Economics and Finance, 11-13th October, 2016
Number of pages: 14 Posted: 02 May 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (342,806)

Abstract:

Islamic Economics, Economic Systems

53.

The Battle for the Control of Money

Journal of King Abdul Aziz University: Islamic Economics, Vol 29 No. 2, July 2016. p75-80
Number of pages: 17 Posted: 21 Apr 2016 Last Revised: 05 Sep 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (380,829)

Abstract:

Credit Creation, Sovereign Money, Banking

54.

Revisiting the Foundations of Probability

Number of pages: 19 Posted: 19 Mar 2016 Last Revised: 30 Apr 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (227,861)

Abstract:

Frequentism, Subjective probability, Dutch Book, Metaphor, Falsification

55.

The Crisis in Islamic Economics

Journal of King Abdul Aziz University: Islamic Economics,Vol. 25 No. 1, pp: 147-169
Number of pages: 23 Posted: 03 Feb 2016
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (330,672)

Abstract:

Islamic Economics, Transformative, Normative, Positive, Flaws of Conventional Economics

56.

Avoiding Model Selection by the Use of Shrinkage Techniques

Journal of Econometrics Journal of Econometrics, Vol. 25, pp. 73-85, 1984
Posted: 27 Mar 2009
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (451,613)

Abstract:

model selection, Akaike Information Criterion, Bayesian model averaging, prediction criteria

57.

Robust Tests for Normality of Errors in Regression Models

Economics Letters, Vol. 86, pp. 63-68, 2005
Posted: 07 Feb 2005
A. Ozlem Onder and Asad Zaman
Ege University - Department of Economics and Pakistan Institute of Development Economics

Abstract:

Normality tests, robust regression, least trimmed squares

Other Papers (1)

Total Downloads: 26    Citations: 0
1.

Sunspot Equilibria of Baby-Sitting Cooperatives

Number of pages: 17 Posted: 19 Aug 2014
Asad Zaman
Pakistan Institute of Development Economics
Downloads 0 (361,741)

Abstract:

Monetary policy, recession, Keynesian economics, sunspot equilibria