Monetary Policy And Economic Stabilisation In Nigeria; 1986 – 2019; (Distributional Koyck Lag Model Approach)

Monetary Policy Cyclicality, Industrial Output and Economic Growth Interactions in Nigeria

T his paper examined whether monetary policy is acyclical, procyclical or countercyclical and the implications of the interaction of such cyclicality with industrial output on real economic growth in Nigeria. After determining the time series properties of the variables and based on conventional cyclicality measures, the fully modified ordinary least square method was used to examine...

Distributional Effects of Monetary Policy

When the Fed aims for higher inflation, middle-aged, middle-class households, who tend to have big mortgages, benefit at the expense of wealthy retirees, who have a lot of their savings in bank accounts and bonds. Poor and young households are less affected because they are less likely to own homes and their debt burdens are low. In this model, monetary policy not only creates winners and loser...

Monetary policy and economic fluctuations in a sticky-price model

This paper examines a simple monetary optimizing model with sticky-prices. Two types of monetary policy rules are considered: constant money growth rules and interest-rate feedback (Taylor-type) rules. In the case of constant money growth rules, we show the existence of limit cycles through the Hopf bifurcation theorem. On the other hand, in the case of the interest-rate feedback rules, we show...

Monetary Policy, Fiscal Policy, and Aggregate Economic Activity in Korea

Economic Structure and Monetary Policy Design

In this paper, I consider the lessons recent academic research and historical experiences with monetary targeting and inflation targeting offer for the design of monetary policy regimes. The practical experiences with both monetary and inflation targeting suggest that successful policies have incorporated a great deal of flexibility. In principle, both monetary targeting and inflation targeting...