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Social and Behavioral Sciences Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
Inflation Dynamics And Exchange Rate Pass-Through In Nigeria: Evidence From Augmented Nonlinear New Keynesian Philips Curve, Usman A. Bello, Aliyu R. Sanusi
Inflation Dynamics And Exchange Rate Pass-Through In Nigeria: Evidence From Augmented Nonlinear New Keynesian Philips Curve, Usman A. Bello, Aliyu R. Sanusi
CBN Journal of Applied Statistics (JAS)
This paper estimates a nonlinear augmented New Keynesian Philips Curve for Nigeria using the Smooth Transition Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during the period under review. Food inflation, energy inflation, firms’ marginal cost, and imported inflation account for most of the changes in the prices of composite consumers’ basket in low exchange rate depreciation regime. However, the exchange rate solely explains price changes in the composite consumers’ basket when inflation switches to high regime. Similarly, the results show that regime change in inflation is largely caused by …
Estimation Of Sacrifice Ratio For The Nigerian Economy Using A Time Varying Adrl Approach, E. T. Adamgbe, M. O. Abeng, A. A. Omosola
Estimation Of Sacrifice Ratio For The Nigerian Economy Using A Time Varying Adrl Approach, E. T. Adamgbe, M. O. Abeng, A. A. Omosola
Economic and Financial Review
Monetary policy in the last few decades had focused on creating the enabling conditions for sustainable economic growth, using the level of inflation as the pivotal tool, complemented with central banks’ independence and monetary policy transparency. However, attaining the delicate balance of achieving low inflation and optimal output, with minimal tradeoffs has been a cause for concern for policy makers. Thus, the measurement of the output loss, arising from the inflation-output tradeoff, forms the fulcrum of this study. This study estimates the sacrifice ratio using a state space methodology in an aggregate supply framework to adjust for real business cycle …
The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali
The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali
Gettysburg Economic Review
This theoretical paper studies the issue of fiscal transparency, which we define as asymmetry of information between the households’ perception of fiscal policy and the actual government balance sheet, in the context of a 24-hour news cycle. We model the economy using the New Keynesian three-equation model to study the effect of fiscal transparency on output, inflation, and especially government debt in order to draw conclusions that are relevant in the realm of policy-making in a sovereign debt crisis scenario. We find that a higher degree of fiscal transparency leads to greater levels of output and inflation as well as …