Monetary Policy and the Economy in South Africa

1. Front Matter

   Pages i-xv

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2. Introduction: South African Monetary Policy Regimes

   1. Introduction: South African Monetary Policy Regimes

      • Mthuli Ncube, Eliphas Ndou

      Pages 1-6

3. Output

   1. Front Matter

      Pages 7-7

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   2. Effects of Monetary Policy on Output

      • Mthuli Ncube, Eliphas Ndou

      Pages 9-24

   3. Inflation Uncertainty and Output

      • Mthuli Ncube, Eliphas Ndou

      Pages 25-39

4. Housing

   1. Front Matter

      Pages 41-41

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   2. Monetary Policy Transmission, House Prices and Consumption

      • Mthuli Ncube, Eliphas Ndou

      Pages 43-64

   3. Monetary Policy, Disposable Income and Consumption

      • Mthuli Ncube, Eliphas Ndou

      Pages 65-82

   4. Mortgage Variables, Monetary Policy and Consumption

      • Mthuli Ncube, Eliphas Ndou

      Pages 83-109

5. Components of the Balance of Payments

   1. Front Matter

      Pages 111-111

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   2. Monetary Policy and Exchange Rate Shocks on South Africa’s Trade Balance

      • Mthuli Ncube, Eliphas Ndou

      Pages 113-138

   3. Exchange Rate, House Price and Equity Shocks on the Current Account

      • Mthuli Ncube, Eliphas Ndou

      Pages 139-156

6. International Transmission

   1. Front Matter

      Pages 157-157

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   2. International Transmission of US Shocks into South Africa

      • Mthuli Ncube, Eliphas Ndou

      Pages 159-176

7. Back Matter

   Pages 177-194

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Monetary Policy and the Economy in South Africa covers both modern theories and empirical analysis, linking monetary policy with relating house wealth, drivers of current account based on asset approach, expenditure switching and income absorption effects of monetary policy on trade balance, effects of inflation uncertainty on output growth and international spill overs. Each chapter uses data and relevant methodology to answer empirical and pertinent policy questions in South Africa. The book gives new insights into understanding these areas of economic policy and the wider emerging-markets.

• econometrics
• growth
• Inflation
• interest rates
• monetary policy
• statistics
• value-at-risk

• African Development Bank Group, South Africa

  Mthuli Ncube

• Reserve Bank of South Africa, Pretoria, South Africa

  Eliphas Ndou

Professor Mthuli Ncube is Chief Economist and Vice President at the African Development Bank Group. He researches and has published widely in various areas of economics and finance in Africa and globally. He is a tenured Professor and was Dean of the Graduate School of Business Administration, and of Faculty of Commerce, Law and Management, University of Witwatersrand. He has extensive corporate experience as an investment banker with Investec and Barbican, and Board member of the South African Financial services Board, a regulator.
 

Eliphas Ndou works at the South Africa Reserve Bank Research Department as an economist in the monetary policy research unit. He lectures international finance and microeconomics at the University of Witwatersrand, South Africa.

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