investment financing have dissimilar effects on future realizations of inflation and exchange rates. My findings provide evidence …I find policies targeted at stabilizing exchange rates within the context of Nigeria's managed floating exchange rate … regime have not allowed for direct inflation targeting. In spite of this constraint, which is predicted by and consistent …

choice of exchange regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has … generally been a by-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility …

formulate a model of financing. New Keynesian theory emphasizes that a firm’s net worth influences investment decisions and … banks lending reaction to the net worth ratio is more elastic than investment reaction. When the steady state is the saddle …

transition from a currency peg to inflation targeting that took place in 1999. The estimated model exhibits quite different … higher inflation and interest rates, and slightly lower GDP. Finally, the first half of 1998 arguably provided a window of …

I study the effect of the trending relative price of investment on the optimal target rate of inflation. The price of … of investment goods. The resulting optimal target rate of inflation is significantly positive with a median of 1 … investment has a decreasing trend relative to that of consumption because of investment-specific technological progress. If the …

One of the issues facing Nigeria today is the choice among two nominal anchors: exchange rate pegging or inflation …, leading to persistent inflation in Nigeria. At this instant, it is pertinent to look for another nominal anchor to keep …, examines inflation targeting as a possible monetary framework for Nigeria, using time series data and with the aid of Granger …

This paper evaluates inflation forecasts made by Norges Bank which is recognized as a successful forecast targeting … central bank. It is reasonable to expect that Norges Bank produces inflation forecasts that are on average better than other … margin. An explanation in terms of too high speed of adjustment to the inflation target is supported by the evidence. Norges …