International records / OpenAlex research

Prices and Output Response to Monetary Policy Variation in Nigeria

Successful policy implementation often requires an accurate assessment of the magnitude at which the effect aof monetary policy change propagates to other sectors of the economy. For this reason, a thorough understanding of the mechanism through which monetary policy affects targeted economic variables is necessary. This study used innovation accounting in a SVAR model to establish that monetary authorities in Nigeria employed a hybrid of operating procedures and also pursued price stability and growth objectives. Employing Impulse Response Functions (IRFs) and Variance Decompositions (VDs) to…