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Arby, Muhammad Farooq (2001): Long-run trend, Business Cycle & Short-run shocks in real GDP. Published in: SBP Working Paper Series No. No.1 (September 2001)
Hanif, Muhammad N. and Arby, Muhammad Farooq (2003): Monetary and Fiscal Policy Coordination. Published in: The Journal of National Institute of Management (2007): pp. 41-72.
Arby, Muhammad Farooq (2003): Structure and Performance of Commercial Banks in Pakistan. Published in: Journal of Institute of Bankers Pakistan , Vol. Vol 70, No. No 4 (2003)
Arby, Muhammad Farooq (2004): State Bank of Pakistan: Evolution, Functions and Organization.
Arby, Muhammad Farooq (2006): Seigniorage Earnings of Commercial Banks and State Bank of Pakistan. Published in: Journal of the Institute of Bankers Pakistan , Vol. Vol 73, No. No 2, (April 2006)
Arby, Muhammad Farooq and Batool, Irem (2007): Estimating Quarterly Gross Fixed Capital Formation. Published in: SBP Working Paper Series No. No. 17 (2007)
Arby, Muhammad Farooq (2008): Some Issues in the National Income Accounts of Pakistan (Rebasing, Quarterly and Provincial Accounts and Growth Accounting).
Arby, Muhammad Farooq and Hanif, Muhammad Nadeem (2010): Monetary and fiscal policies coordination - Pakistan's experience. Published in: SBP Research Bulletin , Vol. 6, No. 1 (May 2010): pp. 3-13.
Arby, Muhammad Farooq and Malik, Muhammad Jahanzeb and Hanif, Muhammad Nadim (2010): The size of informal economy in Pakistan.
