E52 | Economic Research Southern Africa

JEL code: E52

Monetary Policy

Georgiadis - Global spillovers from multi- dimensional US monetary policy

Abstract We estimate spillovers from US monetary policy for differe...

Giovanni Ricco, Georgios Georgiadis

Workshop Paper

Request for Proposals: Back to inflation

Back to inflation In the wake of the global financial crisis (GFC),...

Call for Work

Prof Nicola Viegi on evaluating the near future of monetary policy in SA: Sailing into ...

Only three times in the last century has monetary policy been re-ev...

Margaux Giannaros, Nicola Viegi

Podcast

Part 1: Monetary policy and Covid-19 in South Africa

The discussion is based on Sailing into the Wind: evaluating the (n...

Matthew Simmonds, Nicola Viegi, Mamokete Lijane, Konstantin Makrelov, Gina Schoeman

Dialogue

Health inequality and the 1918 Influenza in South Africa

The 1918 influenza – the Spanish ﬂu – killed an estimated 6% of Sou...

Jonathan Jayes, Johan Fourie

Working Paper

The transmission of monetary policy via the banks' balance sheet - does bank size matter?

We study the credit channel of monetary policy in South Africa betw...

Tumisang Loate-Ntsoko, Nicola Viegi

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

Dr Chris Loewald on Lockdown Learnings: monetary policy leeway during a pandemic

Shortly after the October MPR, ERSA’s host sat down with Dr Chris L...

Margaux Giannaros, Christopher Loewald

Podcast

Prof. Nicola Viegi on SAMNet: a new economic modelling network is born

Adapting to the times, ERSA introduces its new initiative – the Sou...

Margaux Giannaros, Nicola Viegi

Podcast

Does household net financial wealth explain the asymmetric reaction of household consum...

Ndou et al (2019) showed that, in absolute terms, the decline in ho...

Eliphas Ndou

Working Paper

Part 4: Towards a fiscal policy that supports economic recovery while achieving sustain...

Drawing on the discussions in the previous 3 sessions, session 4 wi...

Matthew Simmonds, Ricardo Hausmann, Laurence Harris, Johannes W. Fedderke, Federico Sturzenegger, Abebe Selassie

Dialogue

Part 3: The role of fiscal policy in the post-Corona economic recovery

South Africa has a comparably large government sector, and the choi...

Christopher Loewald, Matthew Simmonds, Xavier Debrun, Mamokete Lijane, Gilad Isaacs, Federico Sturzenegger, Andrew Donaldson

Dialogue

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

Part 1: Understanding the concept of "fiscal sustainability" in the post-Corona world

Debt sustainability is equivalent to government solvency and from a...

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

Dialogue

Dr David Fowkes on QE and central bank balance sheet policies: Does South Africa have ‘...

Shortly after the Governor of the SARB gave his speech about the fu...

Margaux Giannaros, David Fowkes

Podcast

Spillovers of the Conventional and Unconventional Monetary Policy from the US to South ...

This paper assesses the effect of US monetary policy on South Afric...

Alain Kabundi, Tumisang Loate-Ntsoko, Nicola Viegi

Working Paper

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

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 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

Fiscal stimulus in a global zero lower bound environment

This paper investigates the effect of fi scal stimulus from an emer...

Guangling Liu, Fernando Garcia-Barragan

Working Paper

Policy regime changes and central bank prefernces

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

Samuel Addo

Working Paper

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

Flow specific capital controls for emerging markets

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

Guangling Liu, Chris Garbers

Working Paper

Changes in the Liquidity Effect Over Time: Evidence from Four Monetary Policy Regimes

Monetary policy, post Bretton Woods, saw the emergence of the short...

Dawid J. van Lill

Policy Brief

The impact of Monetary Policy Announcements and Political Events on the Exchange Rate: ...

Since 2000 the South African rand has been among the most volatile ...

Amos C. Peters, Trust R. Mpofu

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

Do monetary policy announcements affect foreign exchange returns and volatility? Some ...

This paper examines the temporal effect of domestic monetary policy...

Jannie Rossouw, Greg Farrell, Cyril May

Working Paper

Effects of South African Monetary Policy Implementation on the CMA A PVAR Approach

South Africa (SA) through its central bank, the South African Reser...

Monaheng Seleteng

Policy Brief

Has the Exchange Rate Pass-Through changed in South Africa?

This paper uses the two-stage exchange rate pass-through (ERPT) fra...

Asi Mbelu, Alain Kabundi

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

Inflation dynamics in a dollarised economy: the case for Zimbabwe

The rapid and sustained loss in value of the Zimbabwean dollar, whi...

Pierre Le Roux, William Kavila

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

The impact of monetary policy on household consumption in South Africa

The monetary policy committee of South Africa’s Reserve Bank (SARB)...

Emmanuel Owusu-Sekyere

Policy Brief

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