Investigating If Inflation is always and Everywhere a Monetary Phenomenon? The Case of Nigeria

Investigating If Inflation is always and Everywhere a Monetary Phenomenon? The Case of Nigeria

This research modified our earlier version of an empirical investigation of the validity of the claim of monetarists that inflation is a monetary phenomenon always and everywhere. In our previous 2013 publication, we used the autoregressive distributed lag (ARDL) modelling to analyse quarterly time series data from 1970 to 2011, concluding that inflation was a monetary phenomenon not always and everywhere. However, the ARDL results in both the short-run and long-run show that the growth of large money supply is the most important variable that amplifies the general price level after the resizing of data to cover 59 years between 1961 and 2019. We have been led by this finding to Relax our little ones  An earlier stance that rejected the view of inflation-money supply relationships of the monetarists. Our Fresh Results  It has contributed to the fact that inflation is a monetary phenomenon at all times and everywhere. We, therefore,  Slow growth in the big supply of money as a strategic monetary policy panacea to the threat  Of Nigeria’s inflation.

Author (s) Details

Salami Doyin
Lagos Business School, K.M 22 Lekki-Aja Expressway, Lagos Island, Lagos State, Nigeria.

Kelikume Ikechukwu
Lagos Business School, K.M 22 Lekki-Aja Expressway, Lagos Island, Lagos State, Nigeria.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/348

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