E43 | Economic Research Southern Africa

JEL code: E43

Interest Rates: Determination, Term Structure, and Effects

The South African sovereign term premium and its drivers

Discussion Document 15 South Africa’s sovereign yield curve is one ...

Ruan Erasmus, Daan Steenkamp

Discussion Document

The bond market impact of the South African Reserve Bank bond purchase programme

We use a unique dataset comprising over a million trades and quotes...

Roy Havemann, Rossouw van Jaarsveld, Henk Janse van Vuuren, Daan Steenkamp

Working Paper

Part 2: Financing the budget in the post-Corona world

Matthew delves into what financing the budget deficit in the post-C...

Brian Kantor, Matthew Simmonds, Xavier Debrun, Tshepiso Moahloli, Owen Willcox, Mamokete Lijane, Lucio Castro, Ian Stuart

Dialogue

Policy Bulletin 04: Electricity reforms: Experience and approach

South Africa has been experiencing electricity shortages since 2008...

Christopher Loewald, Konstantin Makrelov, Andreas Wörgötter

Policy Bulletin

Prof Johannes W. Fedderke on the South African – US sovereign bond spread: how is this ...

In this podcast, Prof. Johannes W. Fedderke, the Director of ERSA s...

Margaux Giannaros, Johannes W. Fedderke

Podcast

Chris Loewald on the Monetary Policy response to the Coronavirus pandemic in South Afri...

Amidst the Coronavirus Pandemic and an economic downgrade, we speak...

Margaux Giannaros, Christopher Loewald

Podcast

The monetary policy of the South African Reserve Bank: stance, communication and credib...

This paper analyses the evolution of the monetary policy stance, co...

Alberto Coco, Nicola Viegi

Working Paper

Policy regime changes and central bank prefernces

This paper establishes whether central bank preferences are related...

Samuel Addo

Working Paper

Flow specific capital controls for emerging markets

This paper investigates the impact of capital controls on business ...

Guangling Liu, Chris Garbers

Working Paper

Effects of South African Monetary Policy Implementation on the CMA: A Panel Vector Auto...

The paper investigates the effects of South African monetary policy...

Monaheng Seleteng

Working Paper

Credit market heterogeneity, balance sheet (in) dependence, financial shocks

This paper presents a real business cycle model with financial fric...

Chris Garbers, Guangling Liu

Working Paper

Qualitative Guidance and Predictability of Monetary Policy in South Africa

With the adoption of the in ation targeting (IT) regime in 2000, th...

Ntuthuko Tsokodibane, Alain Kabundi

Working Paper

On the Term Structure of South African Interest Rates: Cointegration and Threshold Adju...

This paper explores the correlations of the short- and long-term in...

Bernard N. Iyke

Working Paper

Credit spread variability in U.S. business cycles: The Great Moderation versus the Grea...

This paper establishes the prevailing financial factors that influe...

Hylton Hollander, Guangling Liu

Working Paper

A Note on the (continued) Ability of the Yield Curve to Forecast Economic Downturns in ...

In 2002/03 the yield spread falsely signalled a downswing that neve...

Ferdi Botha, Gavin Keeton

Working Paper

A Portrait of Informal Sector Credit and Interest Rates in Malawi: Interpolated Monthly...

Although informal finance forms a large part of their financial sec...

Harold P. E. Ngawala

Working Paper

The Equity Price Channel in a New-Keynesian DSGE Model with Financial Frictions and Ban...

This paper studies the role of the equity price channel in business...

Hylton Hollander, Guangling Liu

Working Paper

No-Arbitrage One-Factor Models of the South African Term-Structure of Interest Rates

Short-term interest rate processes determine the term-structure of ...

Shakill Hassan, Peter Aling

Working Paper

Isolating a Measure of Inflation Expectations for the South African Financial Market Us...

The inflation expectations channel of the transmission mechanism ha...

Monique Reid

Working Paper

A Theoretically Defensible Measure of Risk: Using Financial Market Data from a Middle I...

While economic theory assumes that risk is of central importance in...

Johannes W. Fedderke, Neryvia Pillay Bell

Working Paper

Learning About the Term Structure and Optimal Rules for Inflation Targeting

In this paper we incorporate the term structure of interest rates i...

Sylvester Eijffinger, Mewael F. Tesfaselassie, Eric Schaling

Working Paper

The Spatial Distribution of Manufacturing in South Africa 1970-1996, its Determinants a...

This paper researches the change in regional specialisation and ind...

Johannes W. Fedderke, Alexandra Wollnik

Working Paper