We found a match
Your institution may have rights to this item. Sign in to continue.
- Title
ESTIMATING SARB'S POLICY REACTION RULE.
- Authors
Ortiz, Alberto; Sturzenegger, Federico
- Abstract
This paper uses a Dynamic Stochastic General Equilibrium (DSGE) model to estimate the South African Reserve Bank's (SARB) policy reaction rule. We find that the SARB has a stable rule very much in line with those estimated for Canada, UK, Australia and New Zealand. Relative to other emerging economies the policy reaction function of the SARB appears to be much more stable with a consistent anti inflation bias, a somewhat larger weight on output and a very low weight on the exchange rate.
- Subjects
SOUTH Africa; ECONOMIC equilibrium; STATICS &; dynamics (Social sciences); MONETARY policy; BANKING industry; BANK reserves
- Publication
South African Journal of Economics, 2007, Vol 75, Issue 4, p659
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/j.1813-6982.2007.00146.x