Monetary aspects of business cycles in an open developing economy. - Aspetti monetari del ciclo economico in un’economia aperta in via di sviluppo

Oluremi Ogun
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Oluremi Ogun: Department of Economics, University of Ibadan, Postal: University of Ibadan, Ibad, an, Nigeria, http://www.ui.edu.ng/departmentofeconomics

Economia Internazionale / International Economics, 2016, vol. 69, issue 1, 69-92

Abstract: This paper investigated the influence of selected m onetary actions on the real economy of Nigeria. A Monetarist framework and a causality app roach were employed in the analysis. The analysis covered nominal and real specifications an d, level and order of integration. Whereas, the outcome of the experiments involving nominal sp ecifications was mixed, real expressions firmly upheld monetary actions as the key driver of economic activities. The influences of both the price level and exogenous variables were palpab le. - Questo studio analizza l’influenza di alcuni specif ici interventi monetari sull’economia reale della Nigeria. Nell’analisi sono utilizzati un mode llo monetarista e un approccio causale. Si adottano specificazioni sia nominali sia reali a di versi ordini di integrazione. I risultati delle specificazioni nominali e reali risultano different i fra loro, mentre le formulazioni in termini reali danno risultati positivi per quanto riguarda gli effetti delle politiche monetarie. Sono rilevanti sia gli effetti del livello dei prezzi si a di altre variabili esogene.

Keywords: Business Fluctuations and Cycles; Central Banks and their Policies; Causality; Open Economy Macroeconomics (search for similar items in EconPapers)
JEL-codes: C13 E32 E58 F41 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0770

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