Departmental Papers

South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations

By Jorge I Canales Kriljenko

August 25, 2011

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Jorge I Canales Kriljenko. South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations, (USA: International Monetary Fund, 2011) accessed November 14, 2024

Summary

This paper examines whether a mix of tighter fiscal policy, looser monetary policy, and greater reserve build-up would increase growth and depreciate the rand in real terms. The experience of South Africa over the last twenty years is looked at using a number of econometric techniques that control for the external environment.

Subject: Expenditure, Financial services, Foreign exchange, Output gap, Production, Public debt, Real exchange rates, Real interest rates

Keywords: Africa, Asia and Pacific, Countercyclical monetary policy, Currency appreciation, DP, DPPP, Exchange rate, Global, Monetary policy reaction, Output gap, Output-gap coefficient, Reaction function, Real exchange rates, Real interest rates, Terms of trade, World output gaps

Publication Details

  • Pages:

    36

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Departmental Paper No. 2011/004

  • Stock No:

    SAMPEA

  • ISBN:

    9781475510157

  • ISSN:

    2616-5333