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Browsing Working Papers (Economics) by Title
Now showing items 27-46 of 130
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(University of Pretoria, Department of Economics, 2005-12)Modeling the nominal exchange rate has been one of the most difficult exercises in economics. This paper attempts to estimate the nominal rand-USD exchange rate under the Dornbusch(1980) and Frankel (1979) overshooting ...
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(University of Pretoria, Department of Economics, 2009-02)This paper informs government policy insofar as it relates to the agricultural and rural de- velopment sectors and infrastructure investment within these sectors. The paper first quantifies the role of agriculture in the ...
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Effect of defense spending on US output : a factor augmented vector autoregression (FAVAR) approach (University of Pretoria, Department of Economics, 2009-03)Empirical evidence on the effect of defense spending on US output is at best mixed. Against this backdrop, this paper assesses the impact of a positive defense spending shock on the growth rate of real GNP using a FAVAR ...
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(University of Pretoria, Department of Economics, 2009-01)This paper assesses the impact of monetary policy on house price inflation for the nine census divisions of the US economy using a factor-augmented VAR (FAVAR), estimated a large data set comprising of 126 quarterly ...
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(University of Pretoria, Department of Economics, 2009-01)This paper assesses the impact of monetary policy on real house price growth in South Africa using a factor-augmented vector autoregression (FAVAR), estimated based on a large data set comprising of 246 quarterly series ...
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(University of Pretoria, Department of Economics, 2007-07)This paper investigates the causes of capital flight from Zimbabwe for the period 1980 to 2005. The results show external debt, foreign direct investment inflows, and foreign reserves to be the major causers of capital ...
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(University of Pretoria, Department of Economics, 2006-07)The paper develops a monetary endogenous growth model of a financially repressed small open economy, characterized by curb markets, capital mobility, transaction costs in domestic and foreign capital markets, and a flexible ...
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(University of Pretoria, Department of Economics, 2009-08)South Africa, which allowed complete suffrage in 1994, for the first time, has committed itself to improved health outcomes through equitable economic and social development. However, South Africa fares poorly in the World ...
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(University of Pretoria, Department of Economics, 2006-02)This paper estimates the equilibrium real exchange rate and the resulting real exchange rate misalignment in Namibia during the period 1970 to 2004. The equilibrium real exchange rate is determined by trade and exchange ...
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(University of Pretoria, Department of Economics, 2008-07)This paper presents a comprehensive literature review of the theoretical and empirical developments that have taken place over the last two decades in an attempt to address the exchange rate puzzles. Specifically, we ...
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(University of Pretoria, Department of Economics, 2010-06)In this paper we investigate the role of financial development, or more wide-spread access to finance, in generating economic growth in four Latin American countries between 1980 and 2007. The results, based on the ...
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(University of Pretoria, Department of Economics, 2008-02)This paper investigates the effectiveness of monetary policy on house prices in South Africa, before and after financial liberalisation, with financial liberalisation being identified with the recommendations of the De ...
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(University of Pretoria, Department of Economics, 2006-08)The negative relationship between growth and inflation is well-documented in the literature. However, recent evidence tends to indicate the possibility of a growth-inflation trade-off. This paper attempts to provide a ...
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(University of Pretoria, Department of Economics, 2009-10)We explore how the ECB sets interest rates in the context of policy reaction functions. Using both real-time and revised information, we consider linear and nonlinear policy functions in inflation, output and a measure of ...
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(University of Pretoria, Department of Economics, 2010-03)This paper considers how monetary policy, a Federal funds rate shock, affects the dynamics of the US housing sector and whether the financial market liberalization of the early 1980’s influenced those dynamics. The analysis ...
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(University of Pretoria, Department of Economics, 2008-08)The optimum level of government intervention in the economy has been researched extensively internationally but not in South Africa. This paper is primarily concerned with assessing the optimum size of government in terms ...
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(University of Pretoria, Department of Economics, 2010-10)In addition to the conventional linear cointegration test, this paper tests the asymmetry relationship between revenue and expenditure i.e. making a distinction between the adjustment of positive (budget surplus) and ...
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(University of Pretoria, Department of Economics, 2010-09)The paper develops a Small Open Economy New Keynesian DSGE-VAR (SOENKDSGEVAR) model of the South African economy, characterised by incomplete pass-through of exchange rate changes, external habit formation, partial indexation ...
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(University of Pretoria, Department of Economics, 2008-09)This paper compares the forecasting ability of five alternative models in predicting four key macroeconomic variables, namely, per capita growth rate, the Consumer Price Index (CPI) inflation, the money market rate, and ...
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(University of Pretoria, Department of Economics, 2008-06)This paper uses two-types of large-scale models, namely the Dynamic Factor Model (DFM) and Bayesian Vector Autoregressive (BVAR) Models based on alternative hyperparameters specifying the prior, which accommodates 267 ...
Now showing items 27-46 of 130