This paper contributes to the literature on financial contagion by assessing dynamic spillover effects from two key markets (China and the U.S.) to six major emerging economies from different regions, using wavelet analysis to differentiate contagion from market interdependence. Few studies...

The Coronavirus pandemic has caused major economic restrictions and job losses that have disproportionately affected the most vulnerable in society. Studies report that in South Africa females have suffered greater job losses compared to males during the pandemic and while extensive research has...

This paper examines how the short-term and long-term interest rates react to supply, demand and monetary policy shocks in South Africa. Use is made of the impulse response functions obtained from the structural vector autoregressive model with long-term restrictions. We find a positive...

number of studies have contended that it is challenging to explain exchange rate movement with macroeconomic fundamentals. A naive model such as a random walk forecasts exchange rate movements more reliably than existing structural models. This paper confirms that it is possible to improve the...

The Unbiased Forward Rate Hypothesis (UFRH) stipulates that the forward rates should be a perfect predictor for the future spot rates. A number of studies have tested the UFRH and foreign market efficiency and concluded that the hypothesis does not hold. This phenomenon is known as the UFRH...