E44 | Economic Research Southern Africa

JEL code: E44

Financial Markets and the Macroeconomy

Ganesh Viswanath-Natraj - FX Interventions, Signalling and Intermediation Constraints

Abstract We study the impact of unanticipated foreign exchange (FX)...

Workshop Paper

Cesa-Bianchi - Capital Flows and Exchange Rates

Abstract In response to an unanticipated monetary policy tightening...

Ambrogio Cesa-Bianchi

Workshop Paper

Demographic changes and asset prices in an overlapping generations model

Working Paper 884 We examine the effect of demographic shifts on as...

Ghislain H. Demeze-Jouatsa, Frank Riedel, Beatrice D. Simo-Kengne

Working Paper

The effect of cigarette price changes on smoking prevalence by gender: The case of Sout...

South Africa successfully reduced smoking prevalence by substantial...

Corné van Walbeek, Nicole Vellios, Zachary Gitonga

Working Paper

Estimates of bank-level funding costs in South Africa

We develop a new dataset of bank-level balance sheets data to estim...

Daan Steenkamp, Tim Olds

Working Paper

Understanding the behaviour of house prices and household income per capita in South Af...

Homeownership by the lower and middle-income households is crucial ...

Pieter Opperman, Anthanasius F. Tita

Working Paper

The effectiveness of counter-cyclical loan-to-value regulations: generic versus sector-...

This paper considers the implication of the counter-cyclical loan-t...

Guangling Liu

Working Paper

Financial development and income inequality: a nonlinear econometric analysis of 21 Afr...

A panel data analysis of financial inequality was conducted using t...

Lindokuhle T. Zungu, Lorraine Greyling

Working Paper

Social distancing in macroeconomic models

The paper introduces voluntary social distancing to the canonical e...

Yoseph Y. Getachew

Working Paper

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

This paper develops a small open-economy (SOE) dynamic stochastic g...

Cobus Vermeulen

Working Paper

Nicola Viegi on the potential impact of the Coronavirus on South Africa: policy co-ordi...

In this podcast, Prof. Nicola Viegi, the Deputy Director of ERSA an...

Margaux Giannaros, Nicola Viegi

Podcast

The optimal monetary and macroprudential policies for the South African economy

We investigate the optimal design and effectiveness of monetary and...

Thabang Molisey, Guangling Liu

Working Paper

The effectiveness of counter-cyclical loan-to-value regulations: generic versus sector-...

This paper considers the implications of the counter-cyclical loan-...

Thabang Molisey, Guangling Liu

Working Paper

Monetary policy in a model with commodity and financial market research brief

Uncovering the key drivers of business cycles of commodity exportin...

Vo Phuong Mai Le, Ruthira Naraidoo

Policy Brief

Monetary policy in a model with commodity and financial market

This paper builds a small open economy model for a net commodity ex...

Vo Phuong Mai Le, Ruthira Naraidoo

Working Paper

Effect of Financial Development on Economic Growth in sub-Saharan African: Does Sectora...

The role of financial sector development in economic growth has rec...

Paul Alagidede, Muazu Ibrahim

Policy Brief

Is Basel III counter-cyclical: The case of South Africa?

This paper develops a dynamic general equilibrium model with bankin...

Thabang Molisey, Guangling Liu

Working Paper

Effect of Financial Development on Economic Growth in sub–Saharan Africa: Does Sectoral...

This paper examines the overall economic growth effect when the gro...

Paul Alagidede, Muazu Ibrahim

Working Paper

Measuring the Financial Cycle in South Africa

We measure the financial cycle in South Africa using three differen...

Esti Kemp, Greg Farrell

Policy Brief

Credit frictions and co-movement of durable and non-durable goods in a small open economy

In this paper I investigate, numerically, the co-movement puzzle by...

Hilary Patroba

Working Paper

Macroprudential policy and foreign interest rate shocks: A comparison of different inst...

This paper presents a generic small open economy real business cycl...

Guangling Liu, Chris Garbers

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

Welfare analysis of bank capital requirements with endogenous default

This paper presents a tractable framework with endogenous default a...

Fernando Garcia-Barragan, Guangling Liu

Working Paper

The welfare cost of macro-prudential policy in a two-country DSGE model

This paper builds a two-country DSGE model with financial frictions...

Hilary Patroba

Working Paper

Capital controls and foreign currency denomination

This paper studies the effectiveness of capital controls with forei...

Guangling Liu, Fernando Garcia-Barragan

Working Paper

Regionalization versus Internationalization of African Stock Markets: A frequency-time ...

This paper examines regional and global co-movemnt of Africa’s stoc...

Gideon Boako, Paul Alagidede

Policy Brief

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

On the Causal Links between the Stock Market and the Economy of Hong Kong

There is a bulk of literature that identifies the major economic dr...

Bernard N. Iyke, Sin-Yu Ho

Working Paper

Financial Innovation and Money Demand in Sub-Saharan Africa

Understanding the relationship between money demand and its determi...

John P. Dunne, Elizabeth Kasekende

Policy Brief

The effectiveness of countercyclical capital requirements and contingent convertible ca...

This paper studies the effectiveness of countercyclical capital req...

Hylton Hollander

Working Paper

Financial Development and the Diffusion of Technologies under Uncertainty in Africa

Using novel measures of technology diffusion and adoption developed...

Zivanemoyo Chinzara

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 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

Disaggregated Credit Extension and Financial Distress in South Africa

This study analyses the relationship between disaggregated credit e...

Leroi Raputsoane

Working Paper

Evolution of Monetary Policy Transmission Mechanism in Malawi: A TVP-VAR with Stochasti...

This paper investigates the evolution of monetary transmission mech...

Manoel Bittencourt, Chance Mwabutwa, Nicola Viegi

Working Paper

Monetary Policy and Balance Sheets

This paper evaluates the strength of the balance sheet channel in t...

Natalia Tamirisa, Deniz Igan, Alain Kabundi, Francisco N. de Simone

Working Paper