The long-run impact of inflation in South Africa

Amusa, Kafayat; Gupta, Rangan; Karolia, Shaakira; Simo-Kengne, Beatrice Desiree

dc.contributor.author	Amusa, Kafayat
dc.contributor.author	Gupta, Rangan
dc.contributor.author	Karolia, Shaakira
dc.contributor.author	Simo-Kengne, Beatrice Desiree
dc.date.accessioned	2013-11-11T11:45:54Z
dc.date.available	2013-11-11T11:45:54Z
dc.date.issued	2013-09
dc.description.abstract	This paper evaluates the hypothesis of long-run super-neutrality of money (LRSN) within the context of the South African economy. The long-run impact of inflation on the interest rate and subsequently, output is estimated by employing a trivariate structural vector autoregression model, using quarterly data for the period of 1960:1 to 2010:1. The estimation results suggest that the hypothesis of LRSN cannot be rejected, thereby suggesting that monetary policy in South Africa cannot be used to solve the large and persistent unemployment problem in South Africa, which is understandable, since unemployment is inherently structural and is due to skills-shortage. This is further supported by our one of our other results which shows that significant long-run impact on output is obtained from technological improvements.	en_US
dc.description.librarian	hb2013	en_US
dc.description.uri	http://elsevier.com/locate/jpm	en_US
dc.identifier.citation	Amusa, K, Gupta, R, Karolia, S & Simo-Kengne, BD 2013, 'The long-run impact of inflation in South Africa', Journal of Policy Modeling, vol. 35, no. 5, pp. 798-812.	en_US
dc.identifier.issn	0161-8938 (print)
dc.identifier.issn	1873-8060 (online)
dc.identifier.other	10.1016/j.jpolmod.2011.05.001
dc.identifier.uri	http://hdl.handle.net/2263/32344
dc.language.iso	en	en_US
dc.publisher	Elsevier	en_US
dc.rights	© 2013 Elsevier. All rights reserved. Notice : this is the author’s version of a work that was accepted for publication in Journal of Policy Modeling. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Policy Modeling, vol.35, no. 5, 2013, doi : 10.1016/j.jpolmod.2011.05.001	en_US
dc.subject	Money superneutrality	en_US
dc.subject	Structural vector autoregression	en_US
dc.title	The long-run impact of inflation in South Africa	en_US
dc.type	Postprint Article	en_US