South Africa: Selected Issues

International Monetary Fund

No 2005/345, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper for South Africa presents a quantitative analysis of inflation dynamics in the country. The conduct of monetary policy has been complicated by a variety of unanticipated events that have had important effects on inflation. Exposed to exchange rate and other shocks, the model confirms that a delayed policy response to inflation shocks leads to persistently higher inflation rates and, subsequently, to a sharp real contraction of the economy.

Keywords: ISCR; CR; government; break; inflation expectation; sound inflation; interpreting inflation development; inflation dynamics; customs duty; backward-looking inflation component; Tariffs; Labor markets; Mortgages; Unemployment; Africa; Southern Africa (search for similar items in EconPapers)
Pages: 99
Date: 2005-09-19
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Citations: View citations in EconPapers (4)

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