MACROECONOMIC IMPACT OF OIL PRICE SHOCKS ON OIL RICH ECONOMIES: EVIDENCE FROM NIGERIA USING A STRUCTURAL VAR APPROACH

Fred Iklaga, Fred Ogli Iklaga and Osaretin Paul Evbuomwan

No 4240, EcoMod2012 from EcoMod

Abstract: The distorting effects of oil price shocks on oil rich economies are also significant depending on the level of their vulnerability to external shocks. The paper assesses the impact of these shocks on macroeconomic variablesStructural VAR AnalysisThe results show that oil prices have considerable impact on output, inflation, money supply and exchange rate

Keywords: Nigeria; Forecasting; nowcasting; Business cycles (search for similar items in EconPapers)
Date: 2012-07-01
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