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portfolio balance theory

'Quantitative Easing' and central bank asset purchases in South Africa: A DSGE approach

Cobus Vermeulen
This paper develops a small open-economy (SOE) dynamic stochastic general equilibrium (DSGE) model to evaluate the effect of the temporary emergency purchases of government bonds by the South African Reserve Bank (SARB) during 2020. The model is constructed in the portfolio balancing framework, in...
Nov 2020
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