Asymmetric Policy Shocks and Real Output Fluctuations in Nigeria (1960-2004)

M.O. Saibu; S.I. Oladeji

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Asymmetric Policy Shocks and Real Output Fluctuations in Nigeria (1960-2004)

机译：尼日利亚的非对称政策冲击和实际产出波动（1960-2004年）

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This study investigates the asymmetric effects of monetary and fiscal policies on the real output growth in a small open economy. It is a country-specific, time series study that verifies whether there is difference in the effect of expansionary and contr

机译：本研究调查了小型开放经济体中货币和财政政策对实际产出增长的不对称影响。这是一项针对特定国家/地区的时间序列研究，旨在验证扩展和转化的效果是否存在差异

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《The International Journal of Applied Economics and Finance》 |2007年第2期|共9页
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M.O. Saibu; S.I. Oladeji;
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专利

1. Effects of Monetary Policy Shocks on Output and Prices in Nigeria [J] . Abiodun OLAYIWOLA Journal of Economics and Sustainable Development . 2018,第21期

机译：货币政策冲击对尼日利亚产出和价格的影响
2. Monetary Policy Shocks and Industrial Output in Nigeria [J] . Eko Eko Omini, Ehigocho Peace Ogbeba, Okoiarikpo B. Okoi British Journal of Economics, Management & Trade . 2017,第2期

机译：尼日利亚的货币政策冲击和工业产出
3. Vector Error Correction Model for Forecasting Real Output Using Monetary Policy Transmission Channel Variables for Nigeria [J] . Elem-Uche O., Omekara C. O., Okereke E. W., American Journal of Mathematics and Statistics . 2019,第2期

机译：尼日利亚利用货币政策传导渠道变量预测实际产出的矢量误差校正模型
4. The Impact of Supply Shocks on the Fluctuation of Steel Industry Output [C] . Tang Guo-sheng, Dou Bin Wireless Communications, Networking and Mobile Computing, 2007 International Conference on . 2007

机译：供应冲击对钢铁行业产量波动的影响
5. Essays on the predictability of oil shocks and yield curves for real-time output growth. [D] . Carlton, Amelie B. 2010

机译：关于实时产量增长的石油冲击和收益率曲线的可预测性的论文。
6. The challenge of bridging the gap between researchers and policy makers: experiences of a Health Policy Research Group in engaging policy makers to support evidence informed policy making in Nigeria [O] . Benjamin Uzochukwu, Obinna Onwujekwe, Chinyere Mbachu, 2016

机译：缩小研究人员与政策制定者之间差距的挑战：卫生政策研究小组在吸引政策制定者支持证据支持的尼日利亚决策方面的经验
7. We analyze, in this paper, a DSGE New Keynesian model with indi- visible labor where firms may belong to two different final goods producing sectors one where wages and employment are determined in competitive labor markets and the orther where wages and employment are the result of a contractual process between unions and firms. Bargaining between firms and monopoly unions implies real wage rigidity in the model and, in turn, an endogenous trade-off between output stabilization and infla- tion stabilization. We show that the negative effect of a productivity shock on inflation and the positive effect of a cost-push shock is crucially determined by the proportion of firms that belong to the competitive sec- tor. The larger is this number, the smaller are these effects. We derive a welfare based objective function as a second order Taylor approxima- tion of the expected utility of the economy's representative agent and we analyze optimal monetary policy. We show that the larger is the num- ber of firms that belong to the competitive sector, the smaller should be the response of the nominal interest rate to exogenous productivity and cost-push shocks. If we consider, however, an instrument rule where the interest rate must react to inflationary expectations, the rule is not af- fected by the structure of the labor market. The results of the model are consistent with a well known empirical regularity in macroeconomics, i.e. that employment volatility is larger than real wage volatility. [O] . Lorenza Rossi, Fabrizio Mattesini 100

机译：在本文中，我们分析了DsGE新凯恩斯主义模型，该模型具有明显的劳动力，其中企业可能属于两个不同的最终产品生产部门，其中工资和就业是在竞争性劳动力市场中确定的，而工资和就业是由工资和就业导致的。工会和公司之间的合同过程。企业和垄断联盟之间的讨价还价意味着模型中的实际工资刚性，反过来，产出稳定和通货膨胀稳定之间的内生权衡。我们表明，生产率冲击对通货膨胀的负面影响以及成本推动冲击的积极影响，主要取决于属于竞争部门的企业比例。这个数字越大，这些效果越小。我们得出一个基于福利的目标函数作为经济代理人的预期效用的二阶泰勒近似，我们分析最优货币政策。我们表明，属于竞争性行业的企业数量越大，名义利率对外生生产率和成本推动冲击的反应就越小。但是，如果我们考虑利率必须对通胀预期作出反应的工具规则，则该规则不受劳动力市场结构的影响。该模型的结果与宏观经济学中众所周知的经验规律一致，即就业波动率大于实际工资波动率。

Asymmetric Policy Shocks and Real Output Fluctuations in Nigeria (1960-2004)

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