Monetary policy, inflation, unemployment and the Phillips curve in South Africa
- Authors: Chicheke, Aaron
- Date: 2009
- Subjects: Monetary policy , Inflation (Finance) , Economic policy -- Mathematical models , Unemployment -- South Africa , Phillips curve
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11453 , http://hdl.handle.net/10353/d1001202 , Monetary policy , Inflation (Finance) , Economic policy -- Mathematical models , Unemployment -- South Africa , Phillips curve
- Description: Inflation and unemployment are perhaps the two most important challenges that face the South African economy of today. Firstly, the study examines the relationship between monetary policy and the two economic fundamentals (inflation and unemployment), using the VEC modeling technique. The model regresses the monetary policy variable against inflation and unemployment growth over the period 1980-2008. The results suggest that (1) there is a long run relationship between inflation and unemployment (2) monetary policy reacts more to variations in inflation compared to variations in unemployment. Secondly, the relationship between inflation and unemployment as explained by the Phillips curve is investigated. The results show that there is a positive relationship between inflation and unemployment.
- Full Text:
- Authors: Chicheke, Aaron
- Date: 2009
- Subjects: Monetary policy , Inflation (Finance) , Economic policy -- Mathematical models , Unemployment -- South Africa , Phillips curve
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11453 , http://hdl.handle.net/10353/d1001202 , Monetary policy , Inflation (Finance) , Economic policy -- Mathematical models , Unemployment -- South Africa , Phillips curve
- Description: Inflation and unemployment are perhaps the two most important challenges that face the South African economy of today. Firstly, the study examines the relationship between monetary policy and the two economic fundamentals (inflation and unemployment), using the VEC modeling technique. The model regresses the monetary policy variable against inflation and unemployment growth over the period 1980-2008. The results suggest that (1) there is a long run relationship between inflation and unemployment (2) monetary policy reacts more to variations in inflation compared to variations in unemployment. Secondly, the relationship between inflation and unemployment as explained by the Phillips curve is investigated. The results show that there is a positive relationship between inflation and unemployment.
- Full Text:
The impact of immigration on the labour market: evidence from South Africa
- Authors: Sibanda, Nomazulu
- Date: 2008
- Subjects: Immigrants -- South Africa , Labor -- South Africa , Labor costs -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11451 , http://hdl.handle.net/10353/207 , Immigrants -- South Africa , Labor -- South Africa , Labor costs -- South Africa
- Description: The impact of immigrants on the labour market in the South African context has always been a long standing issue with both government and natives’ fearing for the latter’s displacement effect, pressure on wages and resources. Migrants are blamed for poor labour market conditions of a host country. Literature reviewed from Africa and elsewhere shows that migrants have negative outcomes on the host country’s labour market. For this study an Error Correction Model on time series data from 1980-2006 has been estimated. The study estimated two models that is the unemployment and the wages models. The variables used for estimation are immigration, inflation and the Gross Domestic Product. The study surprisingly found a positive impact of immigrants on wages but the effect on employment was negative and significant. It is important to note here that the calculated impact is only for the documented immigrants the impact the illegal ones is not known.
- Full Text:
- Authors: Sibanda, Nomazulu
- Date: 2008
- Subjects: Immigrants -- South Africa , Labor -- South Africa , Labor costs -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11451 , http://hdl.handle.net/10353/207 , Immigrants -- South Africa , Labor -- South Africa , Labor costs -- South Africa
- Description: The impact of immigrants on the labour market in the South African context has always been a long standing issue with both government and natives’ fearing for the latter’s displacement effect, pressure on wages and resources. Migrants are blamed for poor labour market conditions of a host country. Literature reviewed from Africa and elsewhere shows that migrants have negative outcomes on the host country’s labour market. For this study an Error Correction Model on time series data from 1980-2006 has been estimated. The study estimated two models that is the unemployment and the wages models. The variables used for estimation are immigration, inflation and the Gross Domestic Product. The study surprisingly found a positive impact of immigrants on wages but the effect on employment was negative and significant. It is important to note here that the calculated impact is only for the documented immigrants the impact the illegal ones is not known.
- Full Text:
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