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E62

Fiscal Policy

Time consistency and economic growth: A case study of South African macroeconomic policy

Christopher Loewald, David Faulkner and Konstantin Makrelov
The numerous diagnostic studies and policy recommendations that exist for South Africa typically focus on microeconomic constraints to growth. Higher potential growth certainly requires structural reforms to boost productivity growth, in particular to allow private competition and investment in...
Nov 2020
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Fiscal Consolidation, Fiscal Policy Transmission, and Current Account Dynamics in South Africa

Christine S. Makanza and J. Paul Dunne
The debate on global current account imbalances continues to develop, with growing interest in the macroeconomic instability and widening current account de…cits faced by emerging markets. Literature establishes that the current account behaves di¤erently depending on macroeconomic circumstances in...
Dec 2015
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Analysing the Effects of Fiscal Policy Shocks in the South African Economy

Charl Jooste, Guangling (Dave) Liu and Ruthira Naraidoo
This paper is the first one to analyse the effect of aggregate government spending and taxes on output for South Africa using three types of a calibrated DSGE model and more data driven models such as a structural vector error correction model (SVECM) and a time-varying parameter VAR (TVP-VAR) to...
May 2013
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Monetary Policy Response to Foreign Aid in an Estimated DSGE Model of Malawi

Chance Mwabutwa, Manoel Bittencourt and Nicola Viegi
This paper estimates a Bayesian Dynamic Stochastic General Equilibrium (DSGE) model of Malawi and uses it to account for short-run monetary policy response to aid inflows between 1980 and 2010. In particular, the paper evaluates the existence of a “Dutch Disease” following an increase in foreign...
May 2013
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Modelling the Impact of Automatic Fiscal Stabilisers on Output Stabilisation in South Africa

Kibambe Jacques Ngoie and Niek Schoeman
This paper investigates ways in which an efficiency model like ‘DEA Window analysis’ can be utilised, under strictly defined conditions, to assess the level of efficiency of automatic fiscal stabilisers (AFS). The size of AFS is obtained through gaps in both revenue and expenditures variables such...
May 2009
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