Gupta, Rangan; Uwilingiye, Josine(University of Pretoria, Department of Economics, 2009-02)
Recent empirical evidence on the direct link of inflation targeting and inflation volatility is
at best mixed. However, comparing inflation volatility across alternative monetary policy
regimes within a country based on ...
Gupta, Rangan; Uwilingiye, Josine(University of Pretoria, Department of Economics, 2008-06)
In this paper, using the Fisher and Seater (1993) long-horizon approach, we estimate the long-run
equilibrium relationship between money balance as a ratio of income and the Treasury bill rate for
South Africa over the ...
Gupta, Rangan; Uwilingiye, Josine(University of Pretoria, Department of Economics, 2008-10)
This paper derives the econometric restrictions imposed by the Barro and Gordon (1983)
model of dynamic time inconsistency on a bivariate time-series model of Consumer Price
Index (CPI) inflation and real Gross Domestic ...
Gupta, Rangan; Uwilingiye, Josine(University of Pretoria, Department of Economics, 2009-07)
This paper evaluates the welfare gain from reducing inflation permanently from two percent to price stability and compares the output cost associate with this transition. The paper emphasizes the distortions caused by the ...
Gupta, Rangan; Uwilingiye, Josine(University of Pretoria, Department of Economics, 2008-07)
Two recent studies have found markedly different measures of the welfare cost of
inflation in South Africa, obtained through the estimation of long-run money demand
relationships using cointegration and long-horizon ...
