Please use this identifier to cite or link to this item: http://library.cbn.gov.ng:8092/jspui/handle/123456789/637
Title: A test of the fisher effect in Nigeria
Authors: Tule, M. K.
Okpanachi, U. M.
Adamgbe, E. T.
Smith, S. E.
Keywords: Fisher effect
State space model
Co-integration
Real interest rate
Inflation
Nigeria
Monetary policy
Issue Date: Jun-2014
Publisher: Central Bank of Nigeria (CBN), Research Department
Citation: Tule, M. K., Okpanachi, U. M. Adamgbe, E. T. & Smith, S. E. (2014). A test of the fisher effect in Nigeria. CBN Economic and Financial Review (EFR), 52(2), 1-32.
Series/Report no.: Vol. 52;No. 2
Abstract: The “Fisher Effect” has stimulated enormous research interest, especially in monetary policy. Expectedly, empirical evidence has varied greatly – from absence of effect to strong effect. This has kept the debate alive, with the benefit of fresh policy-relevant insights and clues especially in developing countries where the literature on the subject is fast growing. This paper contributes to the debate by using the state space model to investigate the dynamic relationship between real interest rate and inflation in Nigeria. The paper reveals varying degrees of effect across interest rate and time horizons.
URI: http://library.cbn.gov.ng:8092/jspui/handle/123456789/637
ISSN: 1957-2968
Appears in Collections:Economic and Financial Review

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