This paper investigates the effectiveness of monetary policy on house prices in South Africa before and after financial liberalization, with financial liberalization being identified with the recommendations of the De Kock Commission in 1985. Using both impulse response and variance...

Besides the introduction and conclusion, this thesis is comprised of six independentchapters. In this thesis we provide an in-sample and out-of-sample assessment of howthe South African Reserve Bank (SARB) sets its policy rate, post 2000 inflation targetingregime, in the context of both linear...

This paper compares forecast performance of linear and nonlinear monetary policy rules using South African data. Recursive forecasts values are computed for 1- to 12-steps ahead for the out-of-sample period 2006:01 to 2010:12. For the nonlinear models we use bootstrap method for multi-step ahead...