This paper evaluates the strength of policy coordination in Southern African Development Community (SADC) as well as real effective exchange rate stability as indicative of sensible monetary integration. The underlying hypothesis goes with the assertion that countries meeting OCA conditions face...

The problem of computing equilibria for general equilibrium models with incomplete real asset markets, or GEI models for the sake of brevity, is reconsidered. It is shown here that the rank-dropping behavior of the asset return matrix could be dealt with in rather a simple fashion: We first...

This paper explore the state of the Eastern Cape schools by employing an education production function approach using the Ordinary Least Squares (OLS) and quantile regression techniques in 2013, a period almost twenty years into democracy in South Africa. The study benefited from the...

We explore the effects of announcements of future punishment opportunities in public goods games. Announcements can influence subject behaviour, through changing expectations, before the institution is implemented (adjustment effect) or after implementation (adaptation effect). Our results...

This paper explores the relationship between economic development and financial structure: that is, whether the degree of financial system structure matter for pace and character of economic development in 15 African countries for the period of 1995 to 2011. The paper utilizes the fixed effect...

Although the general assumption is that daily and monthly returns data are normally distributed (Aparicio & Estrada, 2001), the correct statistical distribution of returns must first be established (Linden, 2001), as it constitutes one of the elementary building blocks that will ensure accurate...

I study the implications of learning by doing in production for optimal monetary policy using a basic New Keynesian model. Learning-by-doing is modeled as a stock of skills that accumulates based on past employment. The presence of this learning-by-doing externality breaks the ’divine...

Throughout the past 3 decades, the random walk model served as exchange rate forecasting benchmark to verify that a model is able to outperform a random process. However, its application as forecasting benchmark is contradictory. Rather than serving as a benchmark that explains exchange rate...

Understanding class size effects on educational achievement remains a preoccupation of many economists. But empirical results are, to this far, still inconclusive. I use the two-stage least squares and the instrumental variable quantile regression methods on Lesotho’s grade 6 students...

As a result of the high levels of unemployment in South Africa many unskilled people are forced to resort to a variety of income-generating activities in the informal economy. The activity of collecting and selling recyclables presents virtually no barriers to entry, making it a viable option....