Browsing Working Papers (Economics) by Subject "Financial conditions index"

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Financial market conditions, real time, nonlinearity and European Central Bank monetary policy : in-sample and out-of-sample assessment

Naraidoo, Ruthira; Milas, Costas (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 ...
Optimal monetary policy reaction function in a model with target zones and asymmetric preferences for South Africa

Naraidoo, Ruthira; Ndahiriwe, Kasai (University of Pretoria, Department of Economics, 2010-03)

In this paper we provide an in-sample assessment of how the South African Reserve Bank (SARB) sets policy rate in the context of both linear and nonlinear Taylor type rule models of monetary policy. Given the controversial ...
Zone targeting monetary policy preferences and financial market conditions : a flexible nonlinear policy reaction function of the SARB monetary policy

Naraidoo, Ruthira; Raputsoane, Leroi Jeremia (University of Pretoria, Department of Economics, 2010-03)

Based on a representation of policymaker’s preferences that capture inflation zone, targeting behaviors, we estimate a flexible model of the monetary policy reaction function of the South African Reserve Bank (SARB). To ...

Now showing items 1-3 of 3

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