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An Empirical Analysis Of The Sacrifice Ratio In Nigeria, Ada Tony Odu, Onyebuchi David Anih
An Empirical Analysis Of The Sacrifice Ratio In Nigeria, Ada Tony Odu, Onyebuchi David Anih
Bullion
This study empirically investigates the existence of a sacrifice ratio for Nigeria and to measure it, if one exists over the disinflation episodes. The study adopted the Ball (1994) methodology and the Hodrick-Prescott (HP) filter technique to examine the cost of disinflation to Nigeria. Six (6) disinflation episodes were identified over the 2000Q1 – 2018Q2 period and the results obtained indicated varying amounts of output losses over the different episodes under study. The findings suggested that a 1% disinflation resulted in output losses ranging from - 0.02% to 0.44% for the Nigerian economy. Both methods, however, suggested that the latest …