Using a dynamic computable general equilibrium model, the paper provides some direction on the areas of policy reform that could generate strong growth, employment and poverty reduction in South Africa. The core requirements for more rapid and sustained growth are greater saving, investment,...

A nominal income target may provide credibility to a commitment to keep real interest rates exceptionally low, until a target output level is reached -–even if expected inflation rises in the interim–- in economies where nominal interest rates are effectively at the zero lower bound,...