When Nigeria returned to democracy in 1999, real GDP growth rate was 1.12 percent, consumer price inflation was 6.6 percent, and unemployment rate was 8 percent. 15 years down the road, average real GDP growth is 6.5 per cent, inflation is 7 per cent, but latest available unemployment rate is...

This paper distils the key lessons from a comparison of the qualitative and quantitative attributes of the empirical models recovered for M1 and DD (see Teriba (2006a and b)), with emphasis on the tradeoffs that the two models present for policy makers. Highlights: Similarities a. Domestic...

This study addresses many of the pitfalls involved in the empirical modeling of M1 demand with data from an economic setting where there is no consensus on the background information for the choice of proxies for the variables suggested by theory. We explore alternative approaches for dealing...