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Author : Janine Aron
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (246 download)
Download or read book Determinants of the Real Exchange Rate in South Africa written by Janine Aron and published by . This book was released on 1997 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Brian Kahn
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (595 download)
Download or read book Determinants of Real Exchange Rates in South Africa written by Brian Kahn and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Luca Antonio Ricci
Publisher : International Monetary Fund
ISBN 13 : 1451846436
Total Pages : 25 pages
Book Rating : 4.4/5 (518 download)
Download or read book Estimation of the Equilibrium Real Exchange Rate for South Africa written by Mr.Luca Antonio Ricci and published by International Monetary Fund. This book was released on 2003-03-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the Johansen cointegration estimation methodology, much of the long-run behavior of the real effective exchange rate of South Africa can be explained by real interest rate differentials, GDP per capita (both relative to trading partners), real commodity prices, trade openness, the fiscal balance, and the extent of net foreign assets. On the basis of these fundamentals, the real exchange rate in early 2002 was found to be significantly more depreciated with respect to the estimated equilibrium level. The half-life of the deviation of the real exchange rate from the estimated equilibrium one was found to be somewhat more than two years.
Author : Oludele Akinloye Akinboade
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.F/5 ( download)
Download or read book The Determinants of Inflation in South Africa written by Oludele Akinloye Akinboade and published by . This book was released on 2004 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451840995
Total Pages : 103 pages
Book Rating : 4.8/5 (49 download)
Download or read book South Africa: Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2003-01-23 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper estimates an equilibrium path for South Africa's real effective exchange rate. The paper briefly describes the dynamics of the real exchange rate and its determinants. It investigates the presence of a long-term relationship between the real exchange rate and certain explanatory variables, estimates the speed at which the real exchange rate converges toward its equilibrium level, and derives measures for the equilibrium real exchange rate. The paper also examines the real money demand, consumer prices, and the real exchange rate in South Africa.
Author : Peter Takaendesa
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.:/5 (752 download)
Download or read book The Behaviour and Fundamental Determinants of the Real Exchange Rate in South Africa written by Peter Takaendesa and published by . This book was released on 2006 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sandile Hlatshwayo
Publisher : International Monetary Fund
ISBN 13 : 1484383494
Total Pages : 30 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Consequences of Policy Uncertainty written by Sandile Hlatshwayo and published by International Monetary Fund. This book was released on 2016-06-09 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the link between the real effective exchange rate (REER) and exports in South Africa has weakened. While exports still rise in response to REER depreciations, the REER-export elasticity is below historical estimates. The literature has put forward a number of possible explanations, from multi-national supply-chains to muted exchange rate pass-through. This research explores the role of policy uncertainty in reducing the responsiveness of exports to relative price changes. We construct a novel “news chatter” measure of policy uncertainty and examine how it, paired with other supply-side constraints, can improve our understanding of export performance. We find that increased policy uncertainty diminishes the responsiveness of exports to the REER and has short and long-run level effects on export performance. Finally, we show that a measure of competitiveness that adjusts for uncertainty and supply-side constraints greatly outperforms the REER in tracking exports performance.
Author : Jeffrey Frankel
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (123 download)
Download or read book On the Rand written by Jeffrey Frankel and published by . This book was released on 2007 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is an econometric investigation of the determinants of the real value of the South African rand over the period 1984-2006. The results show a relatively good fit. As so often with exchange rate equations, there is substantial weight on the lagged exchange rate, which can be attributed to a momentum component. Nevertheless, economic fundamentals are significant and important. This is especially true of an index of the real prices of South African mineral commodities, which even drives out real income as a significant determinant of the rand's value. An implication is that the 2003-2006 real appreciation can be attributed to the Dutch Disease. In other respects, the rand behaves like currencies of industrialized countries with well-developed financial markets. In particular, high South African interest rates raise international demand for the rand and lead to real appreciation, controlling for a forward-looking measure of expected inflation and a measure of default risk or country risk. It is in the latter respects, in particular, that the paper hopes to have improved on earlier studies of the rand.
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1475505167
Total Pages : 19 pages
Book Rating : 4.4/5 (755 download)
Download or read book Commodity Prices and Exchange Rate Volatility written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2012-06-01 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the relationship between South African Rand and gold price volatility using monthly data for the period 1980-2010. Our main findings is that prior to capital account liberalization the causality runs from South African Rand to gold price volatility but the causality runs the other way around for the post-liberalization period. These findings suggest that gold price volatility plays a key role in explaining both the excessive exchange rate volatility and current disproportionate share of speculative (short-run) inflows that South Africa has been coping with since the opening up of its capital account.
Author : Kombe Oswald Mungule
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.F/5 ( download)
Download or read book The Determinants of the Real Exchange Rate in Zambia written by Kombe Oswald Mungule and published by . This book was released on 2004 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Merle Holden
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.F/5 ( download)
Download or read book Definitions and Calculations of Real Exchange Rates written by Merle Holden and published by . This book was released on 1988 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Leroi Raputsoane
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (13 download)
Download or read book Real Effective Exchange Rates Comovements, Common Factors and the South African Currency written by Leroi Raputsoane and published by . This book was released on 2016 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the comovement between the real effective exchange rate of South Africa and the weighted real effective exchange rates of Advanced, Emerging, Resource, Oil, African, BRIC and BIIT countries. The comovement is examined in the short term and long term as well as pre and post the recent global financial crisis. The results of the trend component show strong positive comovement of the real effective exchange rate of South Africa with the weighted real effective exchange rates of Advanced and BIIT countries and a strong negative comovement with Emerging, African and BRIC countries in full sample period. The results of the cycle component show strong positive comovement with the weighted real effective exchange rates of Resource, Oil and BIIT countries and a strong negative comovement with Emerging, African and BRIC countries. The positive and negative comovements with the groups of countries are sustained in the full sample period as well as the pre and post global financial crisis period with Advanced, Emerging, African and BRIC countries for both the weighted trend and cycle components. Finally, the real effective exchange rate of South Africa show comovement with the weighted cycle component of the all the groups of countries in the full sample period as well as pre and post global financial crisis while this is not the case with the weighted trend component.
Author : Nasha Maveé
Publisher : International Monetary Fund
ISBN 13 : 1475545428
Total Pages : 38 pages
Book Rating : 4.4/5 (755 download)
Download or read book Surprise, Surprise written by Nasha Maveé and published by International Monetary Fund. This book was released on 2016-10-17 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates possible drivers of volatility in the South African rand since the onset of the global financial crisis. We assess the role played by local and international economic surprises, commodity price volatility, global market risk perceptions, and local political uncertainty. As a measure of rand volatility, the study uses a market-based implied volatility indicator for the rand / U.S. dollar exchange rate. Economic surprises—the difference between market expectations and data prints—are captured by Citi’s Economic Surprise Index which is available for South Africa and its main economic partners. The results suggest that rand volatility is mainly driven by commodity price volatility, and global market volatility, as well as domestic political uncertainty. In addition, economic surprises originating in the United States matter, but not those originating from South Africa, Europe, or China.
Author : Ronald MacDonald
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book Estimation of the Equilibrium Real Exchange Rate for South Africa written by Ronald MacDonald and published by . This book was released on 2006 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the Johansen cointegration estimation methodology, much of the long-run behavior of the real effective exchange rate of South Africa can be explained by real interest rate differentials, GDP per capita (both relative to trading partners), real commodity prices, trade openness, the fiscal balance, and the extent of net foreign assets. On the basis of these fundamentals, the real exchange rate in early 2002 was found to be significantly more depreciated with respect to the estimated equilibrium level. The half-life of the deviation of the real exchange rate from the estimated equilibrium one was found to be somewhat more than two years.
Author : Mr.Jerome L. Stein
Publisher : International Monetary Fund
ISBN 13 : 1451955146
Total Pages : 46 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies written by Mr.Jerome L. Stein and published by International Monetary Fund. This book was released on 1995-08-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author : Imed Drine
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (525 download)
Download or read book On the Long-run Determinants of Real Exchange Rates for Developing Countries written by Imed Drine and published by . This book was released on 2003 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Imed Drine
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (525 download)
Download or read book On the Long-run Determinants of Real Exchange Rates for Developing Countries written by Imed Drine and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
