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1
Monetary policy and inflation modeling in a more open economy in South Africa
Published 2008“…This chapter demonstrates how the central bank's own producer price inflation equation in its core model can be improved by taking account of greater openness, using both innovative time-series openness measures and a more conventional measure. …”
Working paper -
2
Monetary Policy and Inflation Modeling in a more Open Economy in South Africa.
Published 2008“…This chapter demonstrates how the central bank’s own producer price inflation equation in its core model can be improved by taking account of greater openness, using both innovative time-series openness measures and a more conventional measure. …”
Working paper -
3
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4
Time for unorthodox monetary policy.
Published 2008“…This column explains the logic behind a radically new form of monetary policy – a new central-bank tool for stabilising the credit cycle. By buying bank stocks and credit instruments at the bottom of the cycle and selling at the top, the new policy could moderate the boom-and-bust credit cycle independently of interest rate policy. …”
Journal article -
5
Estimating monetary policy rules for South Africa
Published 2001“…"Estimating Monetary Policy Rules for South Africa", in Norman Loayza and Klaus Schmidt-Hebbel (eds) "Monetary Policy: Rules and Transmission Mechanisms", Series on Central Banking, Analysis and Economic Policies, Volume 4, Central Bank of Chile, pages 427-475. …”
Working paper -
6
A structural model of the inflation process in South Africa
Published 2004“…The model is in the tradition of central bank models of the inflation process, but carefully tests for asymmetries, structural breaks and expectations effects, and applies a range of econometric tests and methods to refute the charge that such models necessarily impose 'incredible' restrictions, Sims (1980).…”
Working paper -
7
A structural model of the inflation process in South Africa
Published 2004“…The model is in the tradition of central bank models of the inflation process, but carefully tests for asymmetries, structural breaks and expectations effects, and applies a range of econometric tests and methods to refute the charge that such models necessarily impose 'incredible' restrictions, Sims (1980).…”
Working paper -
8
Some Issues in Modeling and Forecasting Inflation in South Africa.
Published 2009“…However, it suggested the major central banks were ‘behind the curve’.…”
Book section -
9
Three essays on dynamic general equilibrium models
Published 2009“…Reflecting fluctuations in the number of varieties, the gap between the natural and the efficient level of output is no longer constant and variant to shocks. As a result, the central bank faces a trade-off between stabilizing inflation and welfare-relevant output gap. …”
Thesis -
10
US Deflation? New Methods of Forecasting Consumer Prices.
Published 2009“…Three months on, these views are now widely shared. Central banks were relatively slow to react to the transformed inflation outlook. …”
Journal article -
11
The economics of Ireland's property market bubble
Published 2013“…The relationship between the two is examined in a separate chapter, using an additional Central Bank of Ireland dataset on mortgages. The spread between list and sale prices gap that exists between the two is decomposed into four parts, a selection spread, a matching spread, a counteroffer spread and a drawdown spread. …”
Thesis -
12
The future of macroeconomics: macro theory and models at the Bank of England
Published 2018“…The adoption as policy models by central banks of representative agent New Keynesian dynamic stochastic general equilibrium models has been widely criticised, including for their simplistic micro-foundations. …”
Journal article -
13
The future of macroeconomics: macro theory and models at the Bank of England
Published 2017“…The adoption as policy models by central banks of representative agent New Keynesian dynamic stochastic general equilibrium models has been widely criticised, including for their simplistic micro-foundations. …”
Working paper -
14
Tobin Lives: integrating evolving credit market architecture into flow of funds based macro-models
Published 2012“…Moreover, the models discussed in this paper offer new ways of interpreting data on credit, money and asset prices, which are crucial for central banks.…”
Working paper -
15
Why net worth is the wrong concept for explaining consumption: evidence from Italy
Published 2023“…Most econometric policy models at central banks and elsewhere use an aggregate consumption function based on textbook theory. …”
Working paper -
16
Some Issues in Modeling and Forecasting Inflation in South Africa.
Published 2009“…Inflation targeting central banks will be hampered without good models to assist them to be forward-looking. …”
Working paper -
17
When is a housing market overheated enough to threaten stability?
Published 2012“…The contribution of careful econometric modelling to estimating the effects of the former is demonstrated: central banks or other policy makers should institute quarterly surveys of house price expectations of potential housing market participants to help assess the first type of overshooting. …”
Working paper -
18
Monetary policy, macro-stability and growth: South Africa’s recent experience and lessons.
Published 2005“…The paper concludes with lessons from South Africa’s recent successful monetary policy experience for other emerging market countries and for less developed countries’ central banks e.g., in Africa.…”
Journal article -
19
Revised estimates of personal sector wealth for South Africa
Published 2004“…Behavioural equations for these variables are key components of central banks' macro-econometric models, used in forecasting and policy-making. …”
Working paper -
20
Revised estimates of personal sector wealth for South Africa
Published 2004“…Behavioural equations for these variables are key components of central banks�� macro-econometric models, used in forecasting and policy-making. …”
Working paper