This book focuses on the implications of the South African labour market dynamics including labour market reforms and fiscal policy for monetary policy and financial stability. Evidence suggests there are benefits in adopting an approach that coordinates labour market policies and reforms,...

This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size...

This book focuses on the implications of the South African labour market dynamics including labour market reforms and fiscal policy for monetary policy and financial stability. Evidence suggests there are benefits in adopting an approach that coordinates labour market policies and reforms,...

Part I: The changing size of second-round effects -- 1. Introduction. 2. Policy implications of ERPT and ongoing debates -- 3. Second round effects, exchange rate depreciation, inflation and average wage settlements -- 4. Second round effects, remuneration per worker, exchange rate depreciation...

1. Introduction -- 2. Do capital inflows relieve banks’ credit constraints and boost credit growth? Evidence from credit conditions and bank credit risk -- 3. Credit conditions and the amplification of macroeconomic responses to unexpected shocks: Implications for monetary policy -- 4. Output...

Chapter 1 Introduction -- Chapter 2 Synopsis of fiscal policy in South Africa: 1994 – 2020 -- Part 1: Government debt -- Chapter 3 Effects of government debt on output, household consumption and gross fixed capital formation: Role of the credit conditions channel -- Chapter 4 Government debt...

This book explores the macro-financial effects of central bank balance sheets, macro-prudential tools, and financial regulation in South Africa. How employment can be maximised while keeping inflation low and stable is examined in relation to the structural changes required to alter the...

This book examines the macroeconomic and regulatory impact of domestic and international shocks on the South African economy resulting from the 2009 financial crisis. It also assesses the impact of the US economy’s eventual recovery from the crisis and the prospect of higher US interest rates...