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Author : Balázs Égert
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (798 download)
Download or read book Nominal and Real Exchange Rate Models in South Africa written by Balázs Égert and published by . This book was released on 2012 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ashok Bhundia
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (318 download)
Download or read book Sources of Nominal Exchange Rate Fluctuations in South Africa written by Ashok Bhundia and published by International Monetary Fund. This book was released on 2003 with total page 30 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 : 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 : Riané de Bruyn
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (13 download)
Download or read book Testing the Monetary Model for Exchange Rate Determination in South Africa written by Riané de Bruyn and published by . This book was released on 2013 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evidence in favor of the monetary model of exchange rate determination for the South African Rand is, at best, mixed. A co-integrating relationship between the nominal exchange rate and monetary fundamentals forms the basis of the monetary model. With the econometric literature suggesting that the span of the data, not the frequency, determines the power of the co-integration tests and the studies on South Africa primarily using short-span data from the post-Bretton Woods era, we decided to test the long-run monetary model of exchange rate determination for the South African Rand relative to the US Dollar using annual data from 1910-2010. The results provide some support for the monetary model in that long-run co-integration is found between the nominal exchange rate and the output and money supply deviations. However, the theoretical restrictions required by the monetary model are rejected. A vector error-correction model identifies both the nominal exchange rate and the monetary fundamentals as the channel for the adjustment process of deviations from the long-run equilibrium exchange rate. A subsequent comparison of nominal exchange rate forecasts based on the monetary model with those of the random walk model suggests that the forecasting performance of the monetary model is superior.
Author : Merle Holden
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.F/5 ( download)
Download or read book Exchange Rate Policy for a Small Open Economy in a World of Floating Rates written by Merle Holden and published by . This book was released on 1985 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : Nicoli Nattrass
Publisher : New Africa Books
ISBN 13 : 9780864865946
Total Pages : 324 pages
Book Rating : 4.8/5 (659 download)
Download or read book Macroeconomics written by Nicoli Nattrass and published by New Africa Books. This book was released on 2002 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ashok Bhundia
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.:/5 (318 download)
Download or read book An Empirical Investigation of Exchange Rate Pass-through in South Africa written by Ashok Bhundia and published by International Monetary Fund. This book was released on 2002 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr. Gunnar Jonsson
Publisher : International Monetary Fund
ISBN 13 : 1451899815
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)
Download or read book Inflation, Money Demand, and Purchasing Power Parity in South Africa written by Mr. Gunnar Jonsson and published by International Monetary Fund. This book was released on 1999-09-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This empirical study for South Africa indicates that there exists a stable money demand type of relationship among domestic prices, broad money, real income, and interest rates, as well as a long-run relationship among domestic prices, foreign prices, and the nominal exchange rate. In the short run, shocks to the nominal exchange rate affect domestic prices but have virtually no impact on real output, while shocks to broad money have a temporary impact on real output before becoming inflationary. Both types of shocks seem to trigger a monetary policy response, since the short-term interest rate adjusts quickly.
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 : 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 : 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 : Johan Mathisen
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (318 download)
Download or read book Estimation of the Equilibrium Real Exchange Rate for Malawi written by Johan Mathisen and published by International Monetary Fund. This book was released on 2003-05 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper computes Malawi's equilibrium real exchange rate as a function of its fundamentals as derived from economic theory. It finds evidence in favor of the equilibrium approach to exchange rate determination, with several variables (particularly government consumption and real per capita growth) found to drive movements in the time-varying equilibrium real exchange rate. The results also indicate that following a shock there is a rapid reversion of the real exchange rate to its time-varying equilibrium, with a half-life of reversion of about 11 months.
Author : Thomas Harjes
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (318 download)
Download or read book A Bayesian-Estimated Model of InflationTargeting in South Africa written by Thomas Harjes and published by International Monetary Fund. This book was released on 2008 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates a small dynamic macroeconomic model for the South African economy with Bayesian methods. The model is tailored to assessing the impact of domestic as well as external shocks on inflation within an inflation targeting framework, by incorporating forward-looking behavior of private agents and of the monetary authority. The model is able to display important empirical features of the monetary transmission mechanism that have been found in other studies. It helps to integrate the short-term inflation outlook into a consistent medium-term framework and to design the policy response for various shocks that affect inflation.
Author : Mr.Jorge I Canales Kriljenko
Publisher : International Monetary Fund
ISBN 13 : 1475510152
Total Pages : 36 pages
Book Rating : 4.4/5 (755 download)
Download or read book South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations written by Mr.Jorge I Canales Kriljenko and published by International Monetary Fund. This book was released on 2011-08-25 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether a mix of tighter fiscal policy, looser monetary policy, and greater reserve build-up would increase growth and depreciate the rand in real terms. The experience of South Africa over the last twenty years is looked at using a number of econometric techniques that control for the external environment.
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.
