JEL code: E44

Financial Markets and the Macroeconomy

Demographic changes and asset prices in an overlapping generations model
Working Paper 884 We examine the effect of demographic shifts on as...
Published: 6 March 2023
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...
Published: 19 April 2021
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...
Published: 30 March 2021
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 ...
Published: 29 March 2021
Pieter Opperman, Anthanasius F. Tita
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...
Published: 15 February 2021
Lindokuhle T. Zungu, Lorraine Greyling
Working Paper
Social distancing in macroeconomic models
The paper introduces voluntary social distancing to the canonical e...
Published: 8 January 2021
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...
Published: 30 November 2020
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...
Published: 8 April 2020
Nicola Viegi
The optimal monetary and macroprudential policies for the South African economy
We investigate the optimal design and effectiveness of monetary and...
Published: 7 February 2020
Thabang Molisey, Guangling Dave 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-...
Published: 16 August 2019
Thabang Molisey, Guangling Dave 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...
Published: 2 July 2019
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...
Published: 14 May 2019
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...
Published: 15 January 2019
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...
Published: 7 August 2018
Thabang Molisey, Guangling Dave 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...
Published: 11 July 2018
Paul Alagidede, Muazu Ibrahim
Working Paper
Measuring the Financial Cycle in South Africa
We measure the financial cycle in South Africa using three differen...
Published: 2 March 2018
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...
Published: 8 February 2018
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...
Published: 27 October 2017
Guangling Dave Liu, Chris Garbers
Working Paper
Flow specific capital controls for emerging markets
This paper investigates the impact of capital controls on business ...
Published: 27 October 2017
Guangling Dave Liu, Chris Garbers
Working Paper
Welfare analysis of bank capital requirements with endogenous default
This paper presents a tractable framework with endogenous default a...
Published: 12 June 2017
Fernando Garcia-Barragan, Guangling Dave 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...
Published: 30 May 2017
Hilary Patroba
Working Paper
Capital controls and foreign currency denomination
This paper studies the effectiveness of capital controls with forei...
Published: 24 February 2017
Guangling Dave 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...
Published: 14 October 2016
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...
Published: 12 September 2016
Chris Garbers, Guangling Dave 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...
Published: 24 March 2016
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...
Published: 22 March 2016
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...
Published: 23 September 2015
Hylton Hollander
Working Paper
Financial Development and the Diffusion of Technologies under Uncertainty in Africa
Using novel measures of technology diffusion and adoption developed...
Published: 21 October 2014
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...
Published: 20 August 2014
Hylton Hollander, Guangling Dave 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...
Published: 30 July 2014
Harold P. E. Ngawala
Working Paper
Disaggregated Credit Extension and Financial Distress in South Africa
This study analyses the relationship between disaggregated credit e...
Published: 4 June 2014
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...
Published: 7 November 2013
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...
Published: 16 August 2013
Natalia Tamirisa, Deniz Igan, Alain Kabundi, Francisco N. de Simone
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...
Published: 23 July 2013
Hylton Hollander, Guangling Dave Liu
Working Paper
Interaction of Formal and Informal Financial Markets in Quasi-Emerging Market Economies
The primary objective of this paper is to investigate the interacti...
Published: 16 January 2013
Nicola Viegi, Harold P. E. Ngawala
Working Paper
Financial Reforms and Consumption Behaviour in Malawi
The purpose of the study is to examine whether financial reforms im...
Published: 26 September 2012
Manoel Bittencourt, Chance Mwabutwa, Nicola Viegi
Working Paper

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