Monetary policy and the economy in South Africa:
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| Main Authors: | , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
New York
Palgrave Macmillan
2013
|
| Subjects: | |
| Online Access: | DE-526 DE-521 DE-1043 DE-M347 DE-92 DE-898 DE-1049 DE-523 DE-Re13 DE-91 DE-473 DE-19 DE-355 DE-703 DE-20 DE-706 DE-824 DE-29 DE-739 DE-12 Volltext |
| Item Description: | Includes bibliographical references and index "Monetary Policy and the Economy in South Africa covers both modern theories and empirical analysis, linking monetary policy with relating house wealth, drivers of current account based on asset approach, expenditure switching and income absorption effects of monetary policy on trade balance, effects of inflation uncertainty on output growth and international spill overs. Each chapter uses data and relevant methodology to answer empirical and pertinent policy questions in South Africa. The book gives new insights into understanding these areas of economic policy and the wider emerging-markets"-- |
| Physical Description: | 1 Online-Ressource (213 S.) |
| ISBN: | 9781137334145 9781137334152 |
| DOI: | 10.1057/9781137334152 |
Staff View
MARC
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| 100 | 1 | |a Ncube, Mthuli |d 1964- |e Verfasser |0 (DE-588)170931102 |4 aut | |
| 245 | 1 | 0 | |a Monetary policy and the economy in South Africa |c Mthuli Ncube and Eliphas Ndou |
| 264 | 1 | |a New York |b Palgrave Macmillan |c 2013 | |
| 300 | |a 1 Online-Ressource (213 S.) | ||
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| 500 | |a Includes bibliographical references and index | ||
| 500 | |a "Monetary Policy and the Economy in South Africa covers both modern theories and empirical analysis, linking monetary policy with relating house wealth, drivers of current account based on asset approach, expenditure switching and income absorption effects of monetary policy on trade balance, effects of inflation uncertainty on output growth and international spill overs. Each chapter uses data and relevant methodology to answer empirical and pertinent policy questions in South Africa. The book gives new insights into understanding these areas of economic policy and the wider emerging-markets"-- | ||
| 505 | 0 | |a Machine generated contents note: -- Contents -- 1. South African Monetary Policy Regimes -- 2. Effects of Monetary Policy on Output -- 2.1. Introduction -- 2.1.1. Theory and Past Empirical Evidence -- 2.2. VAR Methodology -- 2.3. Data -- 2.3.1. How do Variables React upon Impact? -- 2.5. Empirical Results -- 2.4.1. Examining the Relationship between Estimated Policy Shocks and Recessions -- 2.5. Conclusion -- 3. Inflation Uncertainty and Output -- 3.1. Introduction -- 3.2. Theory -- 3.2.1. The Friedman Hypothesis -- 3.2.2. The Impact of Inflation Uncertainty on Inflation -- 3.2.3. Inflation Uncertainty, Real Output Growth, and Output Growth Uncertainty -- 3.3. Literature Review -- 3.4. Econometric Methodology -- 3.4.1. The Relationship between Inflation and Inflation Uncertainty -- 3.4.2. The Inflation Uncertainty and Real Output Growth -- 3.5. Data and Descriptive Statistics -- 3.6. Empirical Results -- 3.6.1. VAR Methodology -- 3.7. Conclusions -- | |
| 505 | 0 | |a 4. Monetary Policy Transmission, House Price and Consumption -- 4.1. Introduction -- 4.2. Consumption, Housing Prices and Interest Rates -- 4.2.1. The Effect of Monetary Policy on House Prices -- 4.2.2. The Effects of House Prices on Consumption -- 4.3. The VAR Model -- 4.4. Data -- 4.5. Results and Discussion -- 4.5.1. Forecast Error Variance Decomposition -- 4.5.2. Robustness Analysis -- 4.5.3. Discussion of Consumption Declines Results -- 2.5. Conclusion -- Appendix: Quantifying Declines in Consumption -- Unit Root Tests -- 5. Monetary Policy, Disposable Income and Consumption -- 5.1. Introduction -- 5.2. Data -- 5.3. VAR Model -- 5.4. Results 66 -- 5.5. Impact of Oil Price in the Extended Model -- 5.6. Counterfactual Analysis -- 5.7. Variance Decompositions -- 5.8. Conclusions -- 6. Mortgage Variables, Monetary Policy and Consumption -- 6.1. Introduction -- 6.2. Theory -- 6.3. What does International Evidence Conclude? -- 6.3. Data -- 6.4.1. Bayesian VAR Approach -- | |
| 505 | 0 | |a 6.5. Results -- 6.5.1. Contractionary Monetary Policy Shock -- 6.5.2. Mortgage Lending Rate or (Negative Credit Supply) Shock -- 6.5.3. Housing Demand Shock -- 6.5.4. Residential Investment Shock -- 6.5.5. Variance Decompositions -- 6.6. Examining Impact of US Mortgage Variables on South Africa -- 6.6.3. Variance Decomposition -- 6.7. Conclusion -- 7. Monetary Policy and Exchange Rate Shocks on South Africa Trade Balance -- 7.1. Introduction -- 7.2. Literature Review -- 7.3. VAR Methodology -- 7.3.1. Benchmark VAR Model -- 7.4. Data -- 7.5. Empirical Results -- 7.5.1. How are Policy Shocks Transmitted into Trade Balance? -- 7.6. Variance Decomposition -- 7.7. Conclusion -- 8. Exchange Rate, House Prices and Equity Shocks on Current Account -- 8.1. Introduction -- 8.2. Review of Findings in Other Countries -- 8.3. VAR Methodology -- 8.4. Data -- 8.5. Empirical Results -- 8.5.2. Forecast Error Variance Decompositions -- 8.6. Conclusion -- | |
| 505 | 0 | |a 9. International Transmission of US Shocks into South Africa -- 9.1. Introduction -- 9.2. A Review of Previous Empirical Analysis -- 9.3. VAR Methodology -- 9.4. Data -- 9.5. Results -- 9.6. Conclusion -- References | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Monetary policy / South Africa | |
| 651 | 4 | |a Südafrika (Staat) | |
| 651 | 4 | |a South Africa / Economic conditions | |
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Record in the Search Index
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| author | Ncube, Mthuli 1964- Ndou, Eliphas |
| author_GND | (DE-588)170931102 (DE-588)104305684X |
| author_facet | Ncube, Mthuli 1964- Ndou, Eliphas |
| author_role | aut aut |
| author_sort | Ncube, Mthuli 1964- |
| author_variant | m n mn e n en |
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| bvnumber | BV041580256 |
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| contents | Machine generated contents note: -- Contents -- 1. South African Monetary Policy Regimes -- 2. Effects of Monetary Policy on Output -- 2.1. Introduction -- 2.1.1. Theory and Past Empirical Evidence -- 2.2. VAR Methodology -- 2.3. Data -- 2.3.1. How do Variables React upon Impact? -- 2.5. Empirical Results -- 2.4.1. Examining the Relationship between Estimated Policy Shocks and Recessions -- 2.5. Conclusion -- 3. Inflation Uncertainty and Output -- 3.1. Introduction -- 3.2. Theory -- 3.2.1. The Friedman Hypothesis -- 3.2.2. The Impact of Inflation Uncertainty on Inflation -- 3.2.3. Inflation Uncertainty, Real Output Growth, and Output Growth Uncertainty -- 3.3. Literature Review -- 3.4. Econometric Methodology -- 3.4.1. The Relationship between Inflation and Inflation Uncertainty -- 3.4.2. The Inflation Uncertainty and Real Output Growth -- 3.5. Data and Descriptive Statistics -- 3.6. Empirical Results -- 3.6.1. VAR Methodology -- 3.7. Conclusions -- 4. Monetary Policy Transmission, House Price and Consumption -- 4.1. Introduction -- 4.2. Consumption, Housing Prices and Interest Rates -- 4.2.1. The Effect of Monetary Policy on House Prices -- 4.2.2. The Effects of House Prices on Consumption -- 4.3. The VAR Model -- 4.4. Data -- 4.5. Results and Discussion -- 4.5.1. Forecast Error Variance Decomposition -- 4.5.2. Robustness Analysis -- 4.5.3. Discussion of Consumption Declines Results -- 2.5. Conclusion -- Appendix: Quantifying Declines in Consumption -- Unit Root Tests -- 5. Monetary Policy, Disposable Income and Consumption -- 5.1. Introduction -- 5.2. Data -- 5.3. VAR Model -- 5.4. Results 66 -- 5.5. Impact of Oil Price in the Extended Model -- 5.6. Counterfactual Analysis -- 5.7. Variance Decompositions -- 5.8. Conclusions -- 6. Mortgage Variables, Monetary Policy and Consumption -- 6.1. Introduction -- 6.2. Theory -- 6.3. What does International Evidence Conclude? -- 6.3. Data -- 6.4.1. Bayesian VAR Approach -- 6.5. Results -- 6.5.1. Contractionary Monetary Policy Shock -- 6.5.2. Mortgage Lending Rate or (Negative Credit Supply) Shock -- 6.5.3. Housing Demand Shock -- 6.5.4. Residential Investment Shock -- 6.5.5. Variance Decompositions -- 6.6. Examining Impact of US Mortgage Variables on South Africa -- 6.6.3. Variance Decomposition -- 6.7. Conclusion -- 7. Monetary Policy and Exchange Rate Shocks on South Africa Trade Balance -- 7.1. Introduction -- 7.2. Literature Review -- 7.3. VAR Methodology -- 7.3.1. Benchmark VAR Model -- 7.4. Data -- 7.5. Empirical Results -- 7.5.1. How are Policy Shocks Transmitted into Trade Balance? -- 7.6. Variance Decomposition -- 7.7. Conclusion -- 8. Exchange Rate, House Prices and Equity Shocks on Current Account -- 8.1. Introduction -- 8.2. Review of Findings in Other Countries -- 8.3. VAR Methodology -- 8.4. Data -- 8.5. Empirical Results -- 8.5.2. Forecast Error Variance Decompositions -- 8.6. Conclusion -- 9. International Transmission of US Shocks into South Africa -- 9.1. Introduction -- 9.2. A Review of Previous Empirical Analysis -- 9.3. VAR Methodology -- 9.4. Data -- 9.5. Results -- 9.6. Conclusion -- References |
| ctrlnum | (ZDB-30-PQE)ebr10775870 (OCoLC)874393686 (DE-599)BVBBV041580256 |
| dewey-full | 339.5/30968 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 339 - Macroeconomics and related topics |
| dewey-raw | 339.5/30968 |
| dewey-search | 339.5/30968 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1057/9781137334152 |
| format | Electronic eBook |
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Literature Review -- 3.4. Econometric Methodology -- 3.4.1. The Relationship between Inflation and Inflation Uncertainty -- 3.4.2. The Inflation Uncertainty and Real Output Growth -- 3.5. Data and Descriptive Statistics -- 3.6. Empirical Results -- 3.6.1. VAR Methodology -- 3.7. Conclusions --</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">4. Monetary Policy Transmission, House Price and Consumption -- 4.1. Introduction -- 4.2. Consumption, Housing Prices and Interest Rates -- 4.2.1. The Effect of Monetary Policy on House Prices -- 4.2.2. The Effects of House Prices on Consumption -- 4.3. The VAR Model -- 4.4. Data -- 4.5. Results and Discussion -- 4.5.1. Forecast Error Variance Decomposition -- 4.5.2. Robustness Analysis -- 4.5.3. Discussion of Consumption Declines Results -- 2.5. Conclusion -- Appendix: Quantifying Declines in Consumption -- Unit Root Tests -- 5. Monetary Policy, Disposable Income and Consumption -- 5.1. Introduction -- 5.2. Data -- 5.3. VAR Model -- 5.4. Results 66 -- 5.5. Impact of Oil Price in the Extended Model -- 5.6. Counterfactual Analysis -- 5.7. Variance Decompositions -- 5.8. Conclusions -- 6. Mortgage Variables, Monetary Policy and Consumption -- 6.1. Introduction -- 6.2. Theory -- 6.3. What does International Evidence Conclude? -- 6.3. Data -- 6.4.1. Bayesian VAR Approach --</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">6.5. Results -- 6.5.1. Contractionary Monetary Policy Shock -- 6.5.2. Mortgage Lending Rate or (Negative Credit Supply) Shock -- 6.5.3. Housing Demand Shock -- 6.5.4. Residential Investment Shock -- 6.5.5. Variance Decompositions -- 6.6. Examining Impact of US Mortgage Variables on South Africa -- 6.6.3. Variance Decomposition -- 6.7. Conclusion -- 7. Monetary Policy and Exchange Rate Shocks on South Africa Trade Balance -- 7.1. Introduction -- 7.2. Literature Review -- 7.3. VAR Methodology -- 7.3.1. Benchmark VAR Model -- 7.4. Data -- 7.5. 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| geographic | Südafrika (Staat) South Africa / Economic conditions |
| geographic_facet | Südafrika (Staat) South Africa / Economic conditions |
| id | DE-604.BV041580256 |
| illustrated | Not Illustrated |
| indexdate | 2024-08-01T00:36:24Z |
| institution | BVB |
| isbn | 9781137334145 9781137334152 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-027025524 |
| oclc_num | 874393686 |
| open_access_boolean | |
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| physical | 1 Online-Ressource (213 S.) |
| psigel | ZDB-38-EBR ZDB-1-PEO BSB_PDA_EBR_Kauf ZDB-30-PQE BSB_PDA_EBR_Kauf |
| publishDate | 2013 |
| publishDateSearch | 2013 |
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| publisher | Palgrave Macmillan |
| record_format | marc |
| spelling | Ncube, Mthuli 1964- Verfasser (DE-588)170931102 aut Monetary policy and the economy in South Africa Mthuli Ncube and Eliphas Ndou New York Palgrave Macmillan 2013 1 Online-Ressource (213 S.) txt rdacontent c rdamedia cr rdacarrier Includes bibliographical references and index "Monetary Policy and the Economy in South Africa covers both modern theories and empirical analysis, linking monetary policy with relating house wealth, drivers of current account based on asset approach, expenditure switching and income absorption effects of monetary policy on trade balance, effects of inflation uncertainty on output growth and international spill overs. Each chapter uses data and relevant methodology to answer empirical and pertinent policy questions in South Africa. The book gives new insights into understanding these areas of economic policy and the wider emerging-markets"-- Machine generated contents note: -- Contents -- 1. South African Monetary Policy Regimes -- 2. Effects of Monetary Policy on Output -- 2.1. Introduction -- 2.1.1. Theory and Past Empirical Evidence -- 2.2. VAR Methodology -- 2.3. Data -- 2.3.1. How do Variables React upon Impact? -- 2.5. Empirical Results -- 2.4.1. Examining the Relationship between Estimated Policy Shocks and Recessions -- 2.5. Conclusion -- 3. Inflation Uncertainty and Output -- 3.1. Introduction -- 3.2. Theory -- 3.2.1. The Friedman Hypothesis -- 3.2.2. The Impact of Inflation Uncertainty on Inflation -- 3.2.3. Inflation Uncertainty, Real Output Growth, and Output Growth Uncertainty -- 3.3. Literature Review -- 3.4. Econometric Methodology -- 3.4.1. The Relationship between Inflation and Inflation Uncertainty -- 3.4.2. The Inflation Uncertainty and Real Output Growth -- 3.5. Data and Descriptive Statistics -- 3.6. Empirical Results -- 3.6.1. VAR Methodology -- 3.7. Conclusions -- 4. Monetary Policy Transmission, House Price and Consumption -- 4.1. Introduction -- 4.2. Consumption, Housing Prices and Interest Rates -- 4.2.1. The Effect of Monetary Policy on House Prices -- 4.2.2. The Effects of House Prices on Consumption -- 4.3. The VAR Model -- 4.4. Data -- 4.5. Results and Discussion -- 4.5.1. Forecast Error Variance Decomposition -- 4.5.2. Robustness Analysis -- 4.5.3. Discussion of Consumption Declines Results -- 2.5. Conclusion -- Appendix: Quantifying Declines in Consumption -- Unit Root Tests -- 5. Monetary Policy, Disposable Income and Consumption -- 5.1. Introduction -- 5.2. Data -- 5.3. VAR Model -- 5.4. Results 66 -- 5.5. Impact of Oil Price in the Extended Model -- 5.6. Counterfactual Analysis -- 5.7. Variance Decompositions -- 5.8. Conclusions -- 6. Mortgage Variables, Monetary Policy and Consumption -- 6.1. Introduction -- 6.2. Theory -- 6.3. What does International Evidence Conclude? -- 6.3. Data -- 6.4.1. Bayesian VAR Approach -- 6.5. Results -- 6.5.1. Contractionary Monetary Policy Shock -- 6.5.2. Mortgage Lending Rate or (Negative Credit Supply) Shock -- 6.5.3. Housing Demand Shock -- 6.5.4. Residential Investment Shock -- 6.5.5. Variance Decompositions -- 6.6. Examining Impact of US Mortgage Variables on South Africa -- 6.6.3. Variance Decomposition -- 6.7. Conclusion -- 7. Monetary Policy and Exchange Rate Shocks on South Africa Trade Balance -- 7.1. Introduction -- 7.2. Literature Review -- 7.3. VAR Methodology -- 7.3.1. Benchmark VAR Model -- 7.4. Data -- 7.5. Empirical Results -- 7.5.1. How are Policy Shocks Transmitted into Trade Balance? -- 7.6. Variance Decomposition -- 7.7. Conclusion -- 8. Exchange Rate, House Prices and Equity Shocks on Current Account -- 8.1. Introduction -- 8.2. Review of Findings in Other Countries -- 8.3. VAR Methodology -- 8.4. Data -- 8.5. Empirical Results -- 8.5.2. Forecast Error Variance Decompositions -- 8.6. Conclusion -- 9. International Transmission of US Shocks into South Africa -- 9.1. Introduction -- 9.2. A Review of Previous Empirical Analysis -- 9.3. VAR Methodology -- 9.4. Data -- 9.5. Results -- 9.6. Conclusion -- References Wirtschaft Monetary policy / South Africa Südafrika (Staat) South Africa / Economic conditions Electronic books Ndou, Eliphas Verfasser (DE-588)104305684X aut https://doi.org/10.1057/9781137334152 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Ncube, Mthuli 1964- Ndou, Eliphas Monetary policy and the economy in South Africa Machine generated contents note: -- Contents -- 1. South African Monetary Policy Regimes -- 2. Effects of Monetary Policy on Output -- 2.1. Introduction -- 2.1.1. Theory and Past Empirical Evidence -- 2.2. VAR Methodology -- 2.3. Data -- 2.3.1. How do Variables React upon Impact? -- 2.5. Empirical Results -- 2.4.1. Examining the Relationship between Estimated Policy Shocks and Recessions -- 2.5. Conclusion -- 3. Inflation Uncertainty and Output -- 3.1. Introduction -- 3.2. Theory -- 3.2.1. The Friedman Hypothesis -- 3.2.2. The Impact of Inflation Uncertainty on Inflation -- 3.2.3. Inflation Uncertainty, Real Output Growth, and Output Growth Uncertainty -- 3.3. Literature Review -- 3.4. Econometric Methodology -- 3.4.1. The Relationship between Inflation and Inflation Uncertainty -- 3.4.2. The Inflation Uncertainty and Real Output Growth -- 3.5. Data and Descriptive Statistics -- 3.6. Empirical Results -- 3.6.1. VAR Methodology -- 3.7. Conclusions -- 4. Monetary Policy Transmission, House Price and Consumption -- 4.1. Introduction -- 4.2. Consumption, Housing Prices and Interest Rates -- 4.2.1. The Effect of Monetary Policy on House Prices -- 4.2.2. The Effects of House Prices on Consumption -- 4.3. The VAR Model -- 4.4. Data -- 4.5. Results and Discussion -- 4.5.1. Forecast Error Variance Decomposition -- 4.5.2. Robustness Analysis -- 4.5.3. Discussion of Consumption Declines Results -- 2.5. Conclusion -- Appendix: Quantifying Declines in Consumption -- Unit Root Tests -- 5. Monetary Policy, Disposable Income and Consumption -- 5.1. Introduction -- 5.2. Data -- 5.3. VAR Model -- 5.4. Results 66 -- 5.5. Impact of Oil Price in the Extended Model -- 5.6. Counterfactual Analysis -- 5.7. Variance Decompositions -- 5.8. Conclusions -- 6. Mortgage Variables, Monetary Policy and Consumption -- 6.1. Introduction -- 6.2. Theory -- 6.3. What does International Evidence Conclude? -- 6.3. Data -- 6.4.1. Bayesian VAR Approach -- 6.5. Results -- 6.5.1. Contractionary Monetary Policy Shock -- 6.5.2. Mortgage Lending Rate or (Negative Credit Supply) Shock -- 6.5.3. Housing Demand Shock -- 6.5.4. Residential Investment Shock -- 6.5.5. Variance Decompositions -- 6.6. Examining Impact of US Mortgage Variables on South Africa -- 6.6.3. Variance Decomposition -- 6.7. Conclusion -- 7. Monetary Policy and Exchange Rate Shocks on South Africa Trade Balance -- 7.1. Introduction -- 7.2. Literature Review -- 7.3. VAR Methodology -- 7.3.1. Benchmark VAR Model -- 7.4. Data -- 7.5. Empirical Results -- 7.5.1. How are Policy Shocks Transmitted into Trade Balance? -- 7.6. Variance Decomposition -- 7.7. Conclusion -- 8. Exchange Rate, House Prices and Equity Shocks on Current Account -- 8.1. Introduction -- 8.2. Review of Findings in Other Countries -- 8.3. VAR Methodology -- 8.4. Data -- 8.5. Empirical Results -- 8.5.2. Forecast Error Variance Decompositions -- 8.6. Conclusion -- 9. International Transmission of US Shocks into South Africa -- 9.1. Introduction -- 9.2. A Review of Previous Empirical Analysis -- 9.3. VAR Methodology -- 9.4. Data -- 9.5. Results -- 9.6. Conclusion -- References Wirtschaft Monetary policy / South Africa |
| title | Monetary policy and the economy in South Africa |
| title_auth | Monetary policy and the economy in South Africa |
| title_exact_search | Monetary policy and the economy in South Africa |
| title_full | Monetary policy and the economy in South Africa Mthuli Ncube and Eliphas Ndou |
| title_fullStr | Monetary policy and the economy in South Africa Mthuli Ncube and Eliphas Ndou |
| title_full_unstemmed | Monetary policy and the economy in South Africa Mthuli Ncube and Eliphas Ndou |
| title_short | Monetary policy and the economy in South Africa |
| title_sort | monetary policy and the economy in south africa |
| topic | Wirtschaft Monetary policy / South Africa |
| topic_facet | Wirtschaft Monetary policy / South Africa Südafrika (Staat) South Africa / Economic conditions |
| url | https://doi.org/10.1057/9781137334152 |
| work_keys_str_mv | AT ncubemthuli monetarypolicyandtheeconomyinsouthafrica AT ndoueliphas monetarypolicyandtheeconomyinsouthafrica |