Inflation Dynamics in South Africa
The Role of Thresholds, Exchange Rate Pass-through and Inflation Expectations on Policy Trade-offs
Authors: Ndou, Eliphas, Gumata, Nombulelo
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- About this book
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This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size of exchange rate changes and volatility, GDP growth, inflation, output gap, credit growth, sovereign spreads and fiscal policy, providing new policy evidence on the impact of these. Ndou and Gumata apply techniques to determine the prevalence of updating inflation expectations, and reconsider the propagation effects of a number of inflation risk factors. Asking to what extent the evidence points to a need to enforce price stability and the anchoring of inflation expectation, the book fills existing gaps in South African Policy, and maintains a clear argument that price stability is consistent with the 3 to 6 per cent inflation target range, and that threshold application should form an important aspect of policy analysis in periods of macroeconomic uncertainty. As such, the book serves as an excellent reference text for academic and policy discussions alike.
- About the authors
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Eliphas Ndou is an economist at the South African Reserve Bank, and a lecturer at the University of the Witwatersrand, Johannesburg, South Africa. His research interests include international finance and macroeconomics, applied macro and microeconomics, monetary policy, fiscal policy, banking regulation and macro prudential policy.
Nombulelo Gumata is an economist at the South African Reserve Bank and a part-time lecturer/tutor at the Centre for Education in Economics and Finance Africa (CEEF Arica), South Africa, supporting students at the University of London in degrees and diplomas in Economics and Finance. Her research areas of interest include monetary economics, macro-economics, international economics and finance, fiscal policy, banking regulation and macro prudential policy.
- Table of contents (31 chapters)
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Introduction
Pages 1-16
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The Ball Approach to Disinflation Episodes, Output Costs and Sacrifice Ratios in South Africa
Pages 19-40
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The Output and Inflation Trade-off in South Africa
Pages 41-59
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Persistent Exchange Rate Volatility on the Taylor Curve
Pages 61-76
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Inflation Volatility and Non-Linear Effects of Inflation Shocks
Pages 77-89
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Table of contents (31 chapters)
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Bibliographic Information
- Bibliographic Information
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- Book Title
- Inflation Dynamics in South Africa
- Book Subtitle
- The Role of Thresholds, Exchange Rate Pass-through and Inflation Expectations on Policy Trade-offs
- Authors
-
- Eliphas Ndou
- Nombulelo Gumata
- Copyright
- 2017
- Publisher
- Palgrave Macmillan
- Copyright Holder
- The Editor(s) (if applicable) and The Author(s)
- eBook ISBN
- 978-3-319-46702-3
- DOI
- 10.1007/978-3-319-46702-3
- Hardcover ISBN
- 978-3-319-46701-6
- Softcover ISBN
- 978-3-319-83566-2
- Edition Number
- 1
- Number of Pages
- XLVI, 525
- Number of Illustrations
- 223 b/w illustrations, 19 illustrations in colour
- Topics
