 REVISED SMALL MACRO-ECONOMETRIC MODEL OF THE NIGERIAN ECONOMYS.O. Olofin, Afees Salisu and Moses Tule Applied Econometrics and International Development, 2020, vol. 20, issue 1, 97-116 Abstract: The first operational small-scale macro-econometric model of the Nigerian Economy was developed in 2013. Ever since, the country has witnessed significant changes owing to oil price shock which culminated in internal and external imbalances. Addressing these challenges among others, informed the revision of the model. Thus, in the revised model, provisions are made for unemployment and the role of expectations and uncertainty surrounding the oil and foreign exchange markets. By simulating three alternative policy scenarios using oil price, monetary policy rate and cash reserve ratio, some striking results are obtained with implications for monetary policy in Nigeria. Alternative method was applied in the disequilibrium model of demand and supply of primary and intermediate inputs by Guisan (2011, 2013), this further supports the potential of monetary policy in addressing macroeconomic variables through interest rate channel. Keywords: Macro-econometric models; Policy simulation; Nigerian economy. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eaa:aeinde:v:20:y:2020:i:1_7 Ordering information: This journal article can be ordered from Access Statistics for this article More articles in Applied Econometrics and International Development from Euro-American Association of Economic Development |
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