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Working Papers

Can the restrictive harvest period policy conserve mopane worms in Southern Africa? A bio-economic modelling approach

Wisdom Akpalu, Edwin Muchapondwa & Precious Zikhali
Imbrasia Belina also known as the mopane worm, like other edible insects and caterpillars, is a vital source of protein to Southern African countries. The worms live and graze on mopane trees, which occupy agricultural land. With increasing commercialization of the worm, the management of the worm...
Oct 2007
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A Theoretically Defensible Measure of Risk: Using Financial Market Data from a Middle Income Context

Johannes Fedderke and Neryvia Pillay
While economic theory assumes that risk is of central importance in financial decision making, it is difficult to measure the uncertainty faced by investors. Commonly used empirical proxies for risk (such as the moving standard deviation of the returns on an asset) are not firmly grounded in...
Nov 2007
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Learning About the Term Structure and Optimal Rules for Inflation Targeting

Mewael F. Tesfaselassie, Eric Schaling, Sylvester Eijffinger
In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework. We find that under flexible inflation targeting and uncertainty in the degree of persistence in the economy, allowing for active learning possibilities has effects on the optimal...
Oct 2007
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Is there evidence of a wage penalty to female part-time employment in South Africa?

Dorrit Posel and Colette Muller
In this paper, we investigate female part-time employment in South Africa. Using household survey data for South Africa from 1995 to 2004, we show that women are over-represented in part-time employment, and that the growth in part-time work has been an important feature of the feminisation of the...
Oct 2007
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Labor supply responses to large social transfers: Longitudinal evidence from South Africa

Cally Ardington, Anne Case and Victoria Hosegood
The South African old-age social pension has been much studied by both researchers and policy makers, in part for the larger lessons that might be learned about behavioral responses to cash transfers in developing countries. In this paper, we quantify the labor supply responses of prime-aged...
Sep 2007
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