Determining the optimal monetary policy instrument for Nigeria

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Udom, Solomon I.; Yaaba, Baba N.;
  • Publisher: Abuja: The Central Bank of Nigeria
  • Subject: C53 | E43 | E47 | E52 | Optimal monetary policy | ARDL | interest rate | monetary aggregate | cointegration
    • ddc: ddc:330

It is considered inapt for central banks to adjust reserve money (quantity of money) and interest rate (price of money) at the same time. Thus, necessitates the need for a choice instrument. Enough evidence abounds in microeconomic theory on the undesirability of manipu... View more
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