output response to policy shocks in Nigeria. A CVAR model was specified to assess the effects of policy shocks on real … aggregate and sectoral output measures. The model included oil price shock and an interactive term of trade openness as measures … manufacturing, service and industrial sector while fiscal policy shock was only significant and positive on agricultural output …

a new Keynesian dynamic stochastic general equilibrium (DSGE) model to study how an oil price shock impact macroeconomic … aggregates in an oil-rich emerging economy. We consider a positive oil price shock to uncover the extent to which oil price … oil price shock, reveal evidence of Dutch disease and the operation of the Harrod-Balassa-Samuelson effect. We find a …