Inflation,Unemployment and Nigerian Families: An empirical investigation

Nwaobi, Godwin C (2009): Inflation,Unemployment and Nigerian Families: An empirical investigation.

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).

• Item Type: MPRA Paper
• Language: English
• Keywords: inflation; unemployment; stagflation; inflationcrunch; nigeria; economy; world; depression; recession; targeting; phillipscurve; monetarypolicy; rationalexpectations; keynesiantheory; newclassicals; wages; prices; NAIRU
• Subjects: J - Labor and Demographic Economics > J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers > J60 - General; E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity; C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C90 - General; D - Microeconomics > D1 - Household Behavior and Family Economics > D10 - General; C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C80 - General

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