Journal publications

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Quality of Institutions: Does Intelligence Matter?

Isaac Kalonda-Kanyama and Oasis Kodila-Tedika

This paper analyzes the eect of the average level of intelligence on different measures of the quality of institutions, using a 2006 cross-sectional sample of 113 countries. The results show that average IQ positively affects all the measures of institutional quality considered in our study, namely...

Aug 2012
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Monetary policy and commodity terms of trade shocks in emerging market economies

Seedwell Hove, Albert Touna Mama and Fulbert Tchana Tchana

Commodity terms of trade shocks have continued to drive macroeconomic uctuations in most emerging market economies. The volatility and persistence of these shocks have posed great challenges for monetary policy. This study employs a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model...

Aug 2012
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The Cost-effectiveness of Intervening in Low and High HIV Prevalence Areas in South Africa

Josué Mbonigaba

The cost-effectiveness of intervening with a set of HIV/AIDS interventions in low HIV prevalence areas (LPA) and high HIV prevalence areas (HPA) in South Africa is analysed. The rationale for this analysis is to assess the suspected effect of interaction between the intervention and area of...

Jul 2012
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Assessing the Economic Value of El Niñobased seasonal climate forecasts for smallholder farmers in Zimbabwe

Ephias M. Makaudze

Drought constitutes the most dominant source of food insecurity in Zimbabwe and many other countries in Africa. With a majority of smallholder farmers practicing dry-land agriculture, seasonal forecasts hold promise as an effective risk management tool, giving farmers the ability to anticipate...

Jul 2012
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The Abolition of User Fees and the Demand for Health Care: Re-evaluating the Impact

Steven F. Koch

The impact of the abolition of user fees in South Africa, a policy implemented in 1994 for children under the age of six and the elderly, as well as pregnant and nursing mothers, is examined via regression discontinuity. The analysis focuses on provider choice decisions for curative care treatment...

Jul 2012
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The Objectivity of National Research Foundation Peer Review Based Ratings in South Africa

J.W. Fedderke

This paper examines the strength of association between the outcomes of National Research Foundation (NRF) peer review based rating mechanisms, and a range of objective measures of performance of researchers. The analysis is conducted on 1932 scholars that have received an NRF rating or an NRF...

Jul 2012
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A decision-theoretic model of asset-price underreaction and overreaction to dividend news

Alexander Ludwig and Alexander Zimper

We combine new developments in decision theory with a standard consumption-based asset-pricing framework. In our model the efficient market hypothesis is violated if and only if agents beliefs' express ambiguity about the stochastic process driving economic fundamentals. Asset price fluctuations...

Jun 2012
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Ethnic Reunion and Cultural Affinity

Johan Fourie and Maria Santana-Gallego

Ethnic reunion is the propensity of tourists to travel to regions where their ancestors originate from, while cultural affinity is the propensity of tourists to travel to regions with a shared cultural identity. This paper uses a "world migration matrix", which records the year-1500 origins of the...

Jun 2012
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The Cost of Rigidity: The Case of the South African Labor Market

Johannes Fedderke

The South African labor market has been characterized by high and persistent levels of unemployment, and a poor capacity to create jobs. This paper examines existing evidence on what rigidities have generated this outcome. Pricing power in output markets, as well as labor supply and demand side...

Jun 2012
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The unintended consequences of education policies on South African participation and unemployment

Rulof Burger, Servaas van der Berg and Dieter von Fintel

In the late 1990s the South African Department of Education implemented two policies that were meant to reduce the large number of over-age learners in the school system: schools were no longer allowed to accept students who were more than two years older than the correct grade-age and students...

May 2012
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