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dc.contributor.authorFielding, Daviden_NZ
dc.contributor.authorShields, Kalvinderen_NZ
dc.date.available2011-04-07T03:06:35Z
dc.date.copyright2005-08en_NZ
dc.identifier.citationFielding, D., & Shields, K. (2005). Asymmetries in the effects of monetary policy: the case of South Africa (Economics Discussion Papers Series No. 509). University of Otago. Retrieved from http://hdl.handle.net/10523/1107en
dc.identifier.urihttp://hdl.handle.net/10523/1107
dc.description.abstractPPP is unlikely to hold instantaneously for all commodities across the different regions of a monetary area. It is therefore possible that monetary expansions or contractions will have different effects in different regions, if there are regional asymmetries in the monetary transmission mechanism. We estimate the size of such asymmetries across the nine provinces of South Africa over the period 1997-2005. There are large and statistically significant differences in the response of prices to monetary expansions and contractions.en_NZ
dc.format.mimetypeapplication/pdf
dc.publisherUniversity of Otagoen_NZ
dc.relation.ispartofseriesEconomics Discussion Papers Seriesen_NZ
dc.relation.urihttp://www.business.otago.ac.nz/econ/research/discussionpapers/DP_0509.pdfen_NZ
dc.subjectmonetary unionen_NZ
dc.subjectSouth Africaen_NZ
dc.subjecttransmission mechanismen_NZ
dc.subjectInflationen_NZ
dc.subject.lcshHB Economic Theoryen_NZ
dc.titleAsymmetries in the effects of monetary policy: the case of South Africaen_NZ
dc.typeDiscussion Paperen_NZ
dc.description.versionUnpublisheden_NZ
otago.bitstream.pages18en_NZ
otago.date.accession2006-02-03en_NZ
otago.schoolEconomicsen_NZ
otago.openaccessOpen
otago.place.publicationDunedin, New Zealanden_NZ
dc.identifier.eprints213en_NZ
otago.school.eprintsEconomicsen_NZ
dc.description.referencesJ. Aron and J. Muellbauer (2005) “Review of monetary policy in South Africa: 1994-2004: Part 1: the transparency, credibility and predictability of monetary policy”, CSAE Working Paper (forthcoming), Oxford University. S. Fountas and A. Papagapitos (2001) “The monetary transmission mechanism: evidence and implications for European Monetary Union”, Economics Letters, 70, 397-404. A. Haug, Ö. Karagedikli and S. Ranchhod (2003) “Monetary policy transmission mechanisms and currency unions: a vector error correction approach to a Trans-Tasman currency union”, Reserve Bank of New Zealand Discussion Paper 2003/04. A. Khan, R.G. King and A.L. Wolman (2002) “Optimal monetary policy”, NBER Working Paper 9402. I. Mihov (2001) “Monetary policy implementation and transmission in the European Monetary Union”, Economic Policy, 33, 369-406. M.H. Pesaran, R.J. Smith and Y. Shin (2001) “Bounds testing approaches to the analysis of level Relationships”, Journal of Applied Econometrics, 16, 289-326.en_NZ
otago.relation.number509en_NZ
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