This study examines the effectiveness of both fiscal and monetary policies in mitigating external shocks on Nigerian economy. In addition, it determines which of the macroeconomic policy was more effective in mitigating the possible adverse effects of external shocks; The study uses annual data...

The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...

This paper expounds the concept of Dutch Disease as it applies currently to Australia, noting the various gains and losses resulting from the Australian mining boom. “Dutch Disease” refers to the adverse effects through real exchange rate appreciation that such a boom can have on various...

We examine the impact of the ECB’s Securities Market Program (SMP) and the ECB’s two Covered Bond Purchase Programs (CBPPs) on sovereign bond spreads and covered-bond prices, respectively, for five euro-area stressed countries -- Greece, Ireland, Italy, Portugal, and Spain. Our data are...

We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...

We apply ideas from fiscal federalism to reassess how fiscal authority should be delegated within a monetary union. In a real-economy model with no fiscal externalities, in which local fiscal authorities have an informational advantage about the preferences of their citizens for public spending...

Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused by the Corona Pandemic, in particular lockdowns, part is caused by the Ukrainian War, part is caused by European sanctions, and part - and not the smallest one - is caused by...

It is generally argued that open trade is crucial for economic growth and development. The economic literature also argues that growth is an important option for reducing poverty in developing countries. The paper analyzed the causality between the trade, growth and poverty for Pakistan using...

Are there still significant common macroeconomic fluctuations between Nigeria and its industrial trade partners, even with the increased growth performance and resilience of emerging market and developing economies to developments originating from advanced economies in recent years? This paper...