Monetary policy and unemployment rate in Nigeria: An empirical investigation

The study investigated the impact of monetary policy on unemployment rate in Nigeria. Time series data spanning from 1981 to 2020 was sourced Central Bank Nigeria statistical bulletin and national bureau statistics (various editions). ARDL bounds testing approach co-integration used analyse data. Autoregressive Distributed Lag (ARDL) model Error Correction Model (ECM) were utilized address main objectives study. estimated short run coefficient result revealed that prime lending has a positive insignificant while minimum rediscount negative rate. speed adjustment for correcting disequilibrium previous year equilibrium current is 81.9 percent as shown by ECM. long showed there significant between but equally exchange Based these findings, recommended authority should come up with policies will reduce this encourage borrowing funds investment purposes help Monetary authorities also stabilize