IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/14596.html
   My bibliography  Save this paper

Inflation,Unemployment and Nigerian Families: An empirical investigation

Author

Listed:
  • Nwaobi, Godwin C

Abstract

At present, the world economy is at a cross road. The Nigerian economy is therefore undergoing it most severe economic crisis since the Biafra war of the sixties. Currently, she is experiencing a staggering rate of inflation (well up to the double digit) as well as experiencing a severe recession (as the unemployment rate has risen astronomically). Consequently, a basic thesis of this proposal is that stagflation has caused and will continue to cause considerable hardship for many Nigerian families and poses a serious threat to the mental health of a substantial proportion of the population. It is therefore the aim of this research to document in a systematic way how families that have experienced varying degrees of “inflation crunch” have adjusted to or tried to adapt to this pressure. In other words, this phased research project proposes to provide information that will be useful to policy makers (government) who must weigh the costs and benefits of the current inflationary pressures as well as severe recession. Essentially, the result will be an emergence and evolution of corrective policy measures and strategies (as adequate and functional).

Suggested Citation

  • Nwaobi, Godwin C, 2009. "Inflation,Unemployment and Nigerian Families: An empirical investigation," MPRA Paper 14596, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:14596
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/14596/1/MPRA_paper_14596.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Pesaran, M H, 1982. "A Critique of the Proposed Tests of the Natural Rate-Rational Expectations Hypothesis," Economic Journal, Royal Economic Society, vol. 92(367), pages 529-554, September.
    2. Mohsin S. Khan & Axel Schimmelpfennig, 2006. "Inflation in Pakistan: Money or Wheat?," SBP Research Bulletin, State Bank of Pakistan, Research Department, vol. 2, pages 213-234..
    3. Ajakaiye, O. & Ojowu, O., 1994. "Exchange Rate Depreciation and the Structure of Sectoral Prices in Nigeria Under an Alternative Pricing Regime," Papers 25, African Economic Research Consortium.
    4. Godwin Nwaobi, 2004. "Money and output interaction in Nigeria: an econometric investigation using multivariate cointegration technique," Economics Bulletin, AccessEcon, vol. 3(30), pages 1-10.
    5. McAleer, Michael & McKenzie, C R, 1991. "Keynesian and New Classical Models of Unemployment Revisited," Economic Journal, Royal Economic Society, vol. 101(406), pages 359-381, May.
    6. Hamermesh, Daniel S, 1995. "Labour Demand and the," Economic Journal, Royal Economic Society, vol. 105(430), pages 620-634, May.
    7. repec:aer:wpaper:22 is not listed on IDEAS
    8. Ben S. Bernanke & Frederic S. Mishkin, 1997. "Inflation Targeting: A New Framework for Monetary Policy?," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 97-116, Spring.
    9. repec:ebl:ecbull:v:3:y:2004:i:30:p:1-10 is not listed on IDEAS
    10. Rush, Mark & Waldo, Douglas, 1988. "On the Policy Ineffectiveness Proposition and a Keynesian Alternative," Economic Journal, Royal Economic Society, vol. 98(391), pages 498-503, June.
    11. Ms. Laura Papi & Ms. G. C. Lim, 1997. "An Econometric Analysis of the Determinants of Inflation in Turkey," IMF Working Papers 1997/170, International Monetary Fund.
    12. John B. Taylor, 1999. "Monetary Policy Rules," NBER Books, National Bureau of Economic Research, Inc, number tayl99-1.
    13. repec:aer:wpaper:25 is not listed on IDEAS
    14. Mohsin S. Khan & Axel Schimmelpfennig, 2006. "Inflation in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(2), pages 185-202.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Nurudeen Abu, 2019. "Inflation and Unemployment Trade-off: A Re-examination of the Phillips Curve and its Stability in Nigeria," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 13(1), March.
    2. Anthony Orji & Onyinye .I. Anthony-Orji & Joan C. Okafor, 2015. "Inflation And Unemployment Nexus In Nigeria: Another Test of the Phillips Curve," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(5), pages 766-778, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hesham Alogeel & Maher Hasan, 2008. "Understanding the Inflationary Process in the GCC Region: The Case of Saudi Arabia and Kuwait," IMF Working Papers 2008/193, International Monetary Fund.
    2. Prof. Neil D. Karunaratne, 1999. "Rival Macroeconomic Models And Australian Stylised Facts," Discussion Papers Series 261, School of Economics, University of Queensland, Australia.
    3. Magda Kandil & Hanan Morsy, 2011. "Determinants of Inflation in GCC," Middle East Development Journal, Taylor & Francis Journals, vol. 3(2), pages 141-158, January.
    4. Nadia Tahir, 2013. "Forward-Looking and Backward-Looking Taylor Rules: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 18(2), pages 121-145, July-Dec.
    5. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, September.
    6. McAleer, M. & Pesaran, M.H. & Bera, A.K., 1990. "Alternative approaches to testing non-nested models with autocorrelated disturbances : an application to models of U.S. unemployment," Other publications TiSEM 1db235af-e3ae-45a5-861d-8, Tilburg University, School of Economics and Management.
    7. D.P. Doessel & Abbas Valadkhani, 2002. "Public Finance and The Size of Government: A Literature Review and Econometric Results for Fiji," School of Economics and Finance Discussion Papers and Working Papers Series 108, School of Economics and Finance, Queensland University of Technology.
    8. McAleer, Michael, 1995. "The significance of testing empirical non-nested models," Journal of Econometrics, Elsevier, vol. 67(1), pages 149-171, May.
    9. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    10. Jalil, Abdul & Tariq, Rabbia & Bibi, Nazia, 2014. "Fiscal deficit and inflation: New evidences from Pakistan using a bounds testing approach," Economic Modelling, Elsevier, vol. 37(C), pages 120-126.
    11. Coenen, Gunter & Wieland, Volker, 2005. "A small estimated euro area model with rational expectations and nominal rigidities," European Economic Review, Elsevier, vol. 49(5), pages 1081-1104, July.
    12. Sumera Arshad & Amajd Ali, 2016. "Trade-off between Inflation, Interest and Unemployment Rate of Pakistan: Revisited," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(4), pages 193-209, December.
    13. Athanasios Orphanides & John C. Williams, 2007. "Inflation targeting under imperfect knowledge," Economic Review, Federal Reserve Bank of San Francisco, pages 1-23.
    14. Meixing DAI, 2009. "On the role of money growth targeting under inflation targeting regime," Working Papers of BETA 2009-11, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    15. Charles I. Plosser & George P. Shultz & John C. Williams, 2016. "Panel on Independence, Accountability, and Transparency in Central Bank Governance," Book Chapters,in: John H. Cochrane & John B. Taylor (ed.), Central Bank Governance & Oversight Reforminancial Crisis, chapter 6 Hoover Institution, Stanford University.
    16. S. Adnan & H.A.S. BUKHARI & Safdar Ullah KHAN, 2008. "Does Volatility In Government Borrowing Leads To Higher Inflation? Evidence From Pakistan," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 3(3(5)_Fall), pages 187-202.
    17. Jens R. Clausen & Juergen B. Donges, 2001. "European Monetary Policy: The Ongoing Debate on Conceptual Issues," The World Economy, Wiley Blackwell, vol. 24(10), pages 1309-1326, November.
    18. Sylvia Staudinger, 2000. "Inflation Targeting versus Nominal Income Targeting," CESifo Working Paper Series 301, CESifo.
    19. Saira Tufail & Sadia Batool, 2013. "An Analysis of the Relationship between Inflation and Gold Prices: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 18(2), pages 1-35, July-Dec.
    20. Libman, Emiliano, 2017. "Asymmetric Monetary and Exchange Rate Policies in Latin America," MPRA Paper 78864, University Library of Munich, Germany.

    More about this item

    Keywords

    inflation; unemployment; stagflation; inflationcrunch; nigeria; economy; world; depression; recession; targeting; phillipscurve; monetarypolicy; rationalexpectations; keynesiantheory; newclassicals; wages; prices; NAIRU;
    All these keywords.

    JEL classification:

    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D10 - Microeconomics - - Household Behavior - - - General
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:14596. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.