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Working Papers

The impact of international trade on changing patterns of energy use in South African industry

Marcel Kohler
South Africa’s competitiveness in many industrial products is dependent on its abundant natural resources, resulting in significant trade in natural resource (and in some cases energy) based products. These mining and manufacturing goods have benefited from the country’s policy of subsidising...
Jul 2008
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Exchange rate pass-through to import prices in South Africa: Is there asymmetry?

T D Karoro, M J Aziakpono & N Cattaneo
We examine the impact of financial development on earnings inequality in Brazil in the 1980s and first half of the 1990s. The evidence - based on panel time-series data and analysis - shows that financial development had a significant and robust effect in reducing inequality during the period. We...
Jul 2008
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Is a DFM well suited for forecasting regional house price inflation?

Sonali Das, Rangan Gupta and Alain Kabund
This paper uses the Dynamic Factor Model (DFM) framework, which accommodates a large cross-section of macroeconomic time series for forecasting regional house price inflation. As a case study, we use data on house price inflation for five metropolitan areas of South Africa. The DFM used in this...
Jul 2008
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National Saving and Fiscal Policy in South Africa: an Empirical Analysis Sector in South Africa

Lumengo Bonga-Bonga
Concerns have been raised in regards to how to redress a decreasing trend in national saving in South Africa. A number of authors have suggested that redressing government saving, through fiscal discipline characterised by a low government budget deficit ratio, should be a key in redressing the...
Jun 2008
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Social Networks and Ethnic Niches: An Econometric Analysis of the Manufacturing Sector in South Africa

Andre Hofmeyr
This paper analyses the link between social networks and ethnic occupational niches in the manufacturing sector in South Africa. To this end, it employs the methodology of Bertrand et al. (2000) to minimise the omitted variable bias induced by standard approaches investigating network effects and...
Jun 2008
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Tax evasion and financial repression: A reconsideration using endogenous growth models

Rangan Gupta and Emmanuel Ziramba
Using two dynamic monetary general equilibrium models characterized by endogenous growth, financial repression and endogenously determined tax evasion, we analyze whether financial repression can be explained by tax evasion. When calibrated to four Southern European economies, we show that higher...
May 2008
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Exchange rate pass-through to import prices in South Africa: Is there asymmetry?

T D Karoro, M J Aziakpono & N Cattaneo
This paper examines the magnitude and speed of exchange rate pass-through to import prices in South Africa. It further explores whether the direction and size of changes in the exchange rate have different pass-through effects on import prices, that is, whether the exchange rate pass-through is...
May 2008
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Price Elasticities and Pricing Power in Emerging Markets: The Case of Petrochemicals Derived Plastics in South Africa

Johannes Fedderke and Witness Simbanegavi
This paper examines whether there necessarily exists a conflict between allocative and productive efficiency in small open economy markets. That productive efficiency favours market concentration is not in dispute, and the sole question we face is whether allocative efficiency suffers under high...
May 2008
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