A Dynamic Stochastic General Equilibrium (DSGE) Model of Exchange Rate Pass-Through to Domestic Inflation in Nigeria

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DC Field	Value	Language
dc.contributor.author	Adebiyi, Micheal	-
dc.contributor.author	Mordi, Charles N. O.	-
dc.date.accessioned	2013-09-16T06:44:27Z	-
dc.date.available	2013-09-16T06:44:27Z	-
dc.date.issued	2012	-
dc.identifier.uri	http://library.cbn.gov.ng:8092/jspui/handle/123456789/9	-
dc.description.abstract	This study employs a Bayesian framework of DSGE model to estimate the pass-through effect of exchange rate to domestic inflation in Nigeria using a quarterly data for the period 1980 to 1998. The response of inflation rate to exchange rate shock is found to be positive and statistically significant in the short run. It shows a small and incomplete pass-through of exchange rate to domestic inflation in Nigeria with almost zero in quarter 1 (0.09), rose to 0.18 in quarter 2 and declined to 0.07 and 0.01 in quarters 3 and 4, respectively. This is lower than the findings obtained elsewhere by other authors. The low pass-through is attributed in part to the low, stable, and predictable inflation rate arising from the improved credibility of the policy environment.	en_US
dc.subject	DSGE Model	en_US
dc.subject	Exchange Rate Pass-through	en_US
dc.subject	Exchange Rate	en_US
dc.subject	Inflation	en_US
dc.subject	Nigeria	en_US
dc.subject	Economy-Nigeria	en_US
dc.title	A Dynamic Stochastic General Equilibrium (DSGE) Model of Exchange Rate Pass-Through to Domestic Inflation in Nigeria	en_US
dc.type	Article	en_US
Appears in Collections:	Papers

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