This paper analyses returns and volatility linkages between the South African (SA) equity market and the world major equity markets using daily data for the period 199-2007. Also analysed is the nature of volatility, the long term trend of volatility and the risk-premium hypothesis. The...

This paper presents a detailed empirical examination of the South African equity premium; and a quantitative theoretic exercise to test the canonical inter-temporal consumption-based asset-pricing model under power utility. Over the long run, the South African stock market produced average...

In this paper, we use a highly disaggregate general equilibrium model to analyse the feasibility of a wage subsidy to unskilled workers in South Africa, isolating and estimating its potential employment effects and fiscal cost. We capture the structural characteristics of the labour market with...

This paper investigates whether South African households and small businesses can take advantage of the country’s substantial wind resources to produce their own power from small-scale wind turbines in a viable way. The viability of small-scale wind turbines is assessed by means of a...

This paper informs government policy insofar as it relates to the agricultural and rural development sectors and infrastructure investment within these sectors. The paper first quantifies the role of agriculture in the South African economy. This is done within the context of, inter alia, food...

We establish mathematical equivalence between independence of irrelevant alternatives and monotonicity with respect to first order stochastic dominance. This formal equivalence result between the two principles is obtained under two key conditions. Firstly, for all , each principle is defined on...

The violation of fishing regulations is a criminal activity that leads to depleting fish stock levels across the world. This paper focuses on fishing violations in developing countries. In particular, the paper analyses the use of a fishing net with illegal mesh size in a two regimes, namely a...

This study tests the theory that currency crises are associated with sudden large changes in the structure of foreign exchange market volatility. Due to increases in market uncertainty, crisis periods exhibit abnormally high levels of volatility. By studying short-term changes in volatility...

This paper endogenizes both market transparency and product differentiation in a model of informative advertising á la Grossman and Shapiro (1984). We find, contrary to Schultz (2004), that an increase in market transparency raises firm profits but has no effect on product differentiation. We...

This paper analyses the impact of income inequality on public good provision in an experimental setting. A sample of secondary school students were recruited to participate in a simple linear public goods game where income heterogeneity was introduced by providing participants with unequal token...