Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/264254 
Year of Publication: 
2018
Citation: 
[Journal:] West African Journal of Monetary and Economic Integration [ISSN:] 0855-594X [Volume:] 18 [Issue:] 2 [Publisher:] West African Monetary Institute (WAMI) [Place:] Accra [Year:] 2018 [Pages:] 28-46
Publisher: 
West African Monetary Institute (WAMI), Accra
Abstract: 
This study revisited the traditional money supply - inflation nexus, presented in Fisher's equation, but relaxed its basic assumption of constant level of output, within the context of the Nigerian economy. The idea was to reveal the level of asymmetry in this relationship under conditions of varying levels of economic growth, at every given level of money supply growth. The study drew inferences from the estimate of a two-regime Threshold Autoregressive Distributed Lag (TARDL) Model, and concluded that, while money supply has positive and statistically significant impact on inflation during periods of "low economic growth", the impact is, however, negative and statistically significant in a regime of "high economic growth".
Subjects: 
Money Supply
Inflation
Economic Growth
Regime-switching
Threshold Regression
JEL: 
C24
C50
E31
E51 E52
Document Type: 
Article

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