• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Microeconomics and Macroeconomics >Monetary Policy Transmission in Nigeria: How Important is Asset Prices Channel?1
【24h】

Monetary Policy Transmission in Nigeria: How Important is Asset Prices Channel?1

机译：尼日利亚的货币政策传导：资产价格渠道有多重要？ 1

获取原文
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Using a multi-model approach including Johansen and Autoregressive Distributed Lag (ARDL) techniques, the study assesses the prevalence of the channels of monetary policy transmission mechanism in Nigeria to determine the position of asset prices channel with emphasis on equity channel of Monetary Policy Transmission Mechanism (MPTM). The study covers all the four prominent channels of MPTM in Nigeria – Interest rate, exchange rate, credit and equity channels – over the period 1985Q1 to 2017Q4. The data was used from two perspectives: raw and normalized data such that four set of regressions were carried out and the best model determined based on the one that yield the lowest information criteria. Overall, the results return exchange rate channel as the most prevalent, while equity channel occupies third position. Consequently, the study suggests close monitoring of the market by the Central Bank of Nigeria (CBN) so as to be able to take proactive policy decisions since disruption in the market is likely to affect the general price level which is the primary mandate of the CBN.
机译：该研究使用包括约翰逊和自回归分布滞后（ARDL）技术在内的多模型方法，评估了尼日利亚货币政策传导机制的流行程度，以确定资产价格渠道的位置，重点是货币政策传导机制的公平渠道。 （MPTM）。该研究涵盖了1985年1季度至2017年4季度期间MPTM在尼日利亚的所有四个主要渠道-利率，汇率，信贷和股权渠道。从两个角度使用了数据：原始数据和规范化数据，以便执行四组回归，并基于产生最低信息标准的模型确定最佳模型。总体而言，结果以汇率渠道为最普遍，而股权渠道则排名第三。因此，研究建议尼日利亚中央银行（CBN）密切监视市场，以便能够采取主动的政策决策，因为市场的破坏很可能会影响总体价格水平，这是CBN的主要任务。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号