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Monetary Policy and Balance Sheets

Deniz Igan, Alain Kabundi, Francisco Nadal De Simone, Natalia Tamirisa
This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on an expanded data set, including sectoral balance sheet variables, we show that the balance sheets of...
Aug 2013
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The Strategic Location of Regional Headquarters for Multinationals in Africa

John M. Luiz and Busi Radebe
The study investigates the criteria used by multinational companies to identify the locations of their African regional headquarters (RHQs) and the importance that multinational companies assign to the respective regional offices. We find that multinationals do assign value to their RHQs but are...
Mar 2012
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Globalisation and Conflict: Evidence from sub-Saharan Africa

Carolyn Chisadza and Manoel Bittencourt
Stephen Pinker (2011) advances that various forms of violence such as homicide, rape, torture and conict have decreased over time because of the following historical shifts in soci ety: pacication process, civilising process, humanitarian and rights revolutions, and extended periods of peace. We...
Sep 2016
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Counting the cost of drought induced productivity losses in an agro-based economy: The case of Uganda

Nicholas Kilimani, Jan van Heerden, Heinrich Bohlmann, Louise Roos
Climate variability can affect economies directly through its impact on agricultural output, and indirectly, through its effect on the activities of down-stream industries and household welfare. This paper uses a Computable General Equilibrium model with a disaggregated agricultural sector to...
Jun 2016
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Effects of Wildlife Resources on Community Welfare: Income, Poverty and Inequality

Herbert Ntuli and Edwin Muchapndwa
This paper demonstrates the importance of wildlife in the portfolio of environmental income in the livelihoods of poor rural communities living adjacent to a national park. The results show that wealthier households consumed more wildlife products in total than relatively poor households. However,...
Oct 2015
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Evaluating South Africa’s Tobacco Control Initative: A Synthetic Control Approach

Grieve Chelwa, Corné van Walbeek and Evan Blecher
South Africa has since 1994 consistently and aggressively increased excise taxes on cigarettes in order to maintain a total tax burden of around 50% of the average retail selling price. The tax rises have translated into large increases in the inflation-adjusted price of cigarettes. For instance,...
Dec 2015
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Art investment as a portfolio diversification strategy in South Africa

Ferdi Botha, Brett Scott and Jen Snowball
Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel Art Price index offered the opportunity to...
Aug 2015
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The Impact of Obesity on Employment in South Africa

Modeste Some, Naiefa Rashied & Abieyuwa Ohonba
Obesity is a growing health problem in South Africa. This health problem could have various implications for the South African economy. The aim of this study was to investigate the impact of obesity on employment status in South Africa with the use of household survey data. The study followed a...
Oct 2014
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Conservation Fees in the Kgalagadi Transfrontier Park between Botswana and South Africa in the Presence of Land Restitution

Johane Dikgang and Edwin Muchapondwa
This paper estimates the visitation demand function for Kgalagadi Transfrontier Park (KTP) in order to determine the conservation fee to charge South African residents to maximise park revenue. We conducted contingent behavior experiments at KTP and three other national parks, which we assume are...
Aug 2013
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An Economic Assessment of Bioethanol Production from Sugar Cane: The Case of South Africa

Marcel Kohler
The destabilising economic impact of South Africa’s dependence on imported crude oil is a key motivation behind the country’s drive to develop a biofuel industry. Much concern has been raised over the impact of biofuels production on price of food for the country's poor. It is this concern that has...
Aug 2016
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