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Applied Economics Letters Volume 25, 2018 - Issue 12
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Article

South Africa’s monetary policy independence: evidence from a Global New-Keynesian DSGE model

Annari De WaalDepartment of Economics, University of Pretoria, Pretoria, South Africa
,
Rangan GuptaDepartment of Economics, University of Pretoria, Pretoria, South Africa
&
Charl JoosteDepartment of Economics, University of Pretoria, Pretoria, South AfricaCorrespondence[email protected]
Pages 840-846 | Published online: 28 Aug 2017

References

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  • Edwards, S. 2015. “Monetary Policy Independence under Flexible Exchange Rates: An Illusion?” The World Economy 38: 773–787. doi:10.1111/twec.12262.
  • Frankel, J., S. L. Schmukler, and L. Serven. 2004. “Global Transmission of Interest Rates: Monetary Independence and Currency Regime.” Journal of International Money and Finance 23 (5): 701–733. doi:10.1016/j.jimonfin.2004.03.006.
  • Gupta, R., and C. Jooste. 2014. “Is the South African Reserve Bank Influenced by Exchange Rates When Setting Interest Rates?” Banks and Bank Systems 9 (3): 32–36.
  • Hoffman, B., and B. Bogdanova. 2012. “Taylor Rules and Monetary Policy: A Global ‘Great Deviation’?.” Bank of International Settlement (BIS) Quarterly Review September. 37–49.
  • Leigh, D. 2005. Estimating the Implicit Inflation Target: An Application to U.S. Monetary Policy. International Monetary Fund Working Paper 2005; No. WP/05/77. Washington, D.C.
  • Ortiz, A., and F. Sturzenegger. 2007. “Estimating SARB’s Policy Reaction Rule.” South African Journal of Economics 5 (4): 659–680. doi:10.1111/j.1813-6982.2007.00146.x.
  • Taylor, J. B. 2007. Globalization and Monetary Policy: Missions Impossible. International Dimensions of Monetary Policy 2007; pp. 609–624. Chicago: University of Chicago Press.

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