The Long-Run Impact of Inflation in South Africa

Kafayat Amusa, Rangan Gupta, Shaakira Karolia () and Beatrice Desiree Simo-Kengne ()
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Shaakira Karolia: Department of Economics, University of Pretoria and South African Treasury, Pretoria, South Africa

No 201029, Working Papers from University of Pretoria, Department of Economics

Abstract: This paper evaluates the hypothesis of long-run super-neutrality of money (LRSN) within the context of the South African economy. The long-run impact of inflation on the interest rate and subsequently, output is estimated by employing a trivariate structural vector autoregression model. The estimation results suggest that the hypothesis of LRSN cannot be rejected, thereby potentially supporting the arguments asserted by Sidrauski (1967).

Keywords: money neutrality; structural vector autoregression (search for similar items in EconPapers)
JEL-codes: E31 E5 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2010-12
New Economics Papers: this item is included in nep-afr, nep-cba, nep-mac and nep-mon
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Citations: View citations in EconPapers (2)

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Journal Article: The long-run impact of inflation in South Africa (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:pre:wpaper:201029

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