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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:An open economy New Keynesian DSGE model of the South African economy
Authors:Steinbach, M.R.
Mathuloe, P.T.
Smit, B.W.ISNI
Year:2009
Periodical:South African Journal of Economics
Volume:77
Issue:2
Pages:207-227
Language:English
Geographic term:South Africa
Subjects:economic models
economic conditions
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2009.01212.x/pdf
Abstract:In this paper an open-economy New Keynesian dynamic stochastic general equilibrium (DSGE) model of the South African economy is presented. The model is constructed to provide for incomplete pass-through of exchange rate changes, external habit formation, partial indexation of domestic prices and wages to past inflation, and staggered price and wage setting. Furthermore, the model is estimated using Bayesian techniques on South African domestic and trade partner data for the period 1990-2007. The estimated model is analysed by means of impulse response functions. Bibliogr., notes, ref., sum. [Journal abstract]
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