Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
Essays on dynamic macroeconomics
Thesis (PhD)--Stellenbosch University, 2014.
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Thesis |
| Language: | en_ZA |
| Published: |
Stellenbosch : Stellenbosch University
2014
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613913936297984 |
|---|---|
| access_status_str | Open Access |
| author | Steinbach, Max Rudibert |
| author2 | Smit, B. W. |
| author_browse | Smit, B. W. Steinbach, Max Rudibert |
| author_facet | Smit, B. W. Steinbach, Max Rudibert |
| author_sort | Steinbach, Max Rudibert |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (PhD)--Stellenbosch University, 2014. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/86196 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:43:41.995Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2014 |
| publishDateRange | 2014 |
| publishDateSort | 2014 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/86196 Essays on dynamic macroeconomics Steinbach, Max Rudibert Smit, B. W. Du Plessis, S. A. Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Economics. Dissertations -- Economics Theses -- Economics Macroeconomics -- Econometric models Economic forecasting -- Econometric models South Africa -- Economic conditions -- Econometric models UCTD Thesis (PhD)--Stellenbosch University, 2014. ENGLISH ABSTRACT: In the first essay of this thesis, a medium scale DSGE model is developed and estimated for the South African economy. When used for forecasting, the model is found to outperform private sector economists when forecasting CPI inflation, GDP growth and the policy rate over certain horizons. In the second essay, the benchmark DSGE model is extended to include the yield on South African 10-year government bonds. The model is then used to decompose the 10-year yield spread into (1) the structural shocks that contributed to its evolution during the inflation targeting regime of the South African Reserve Bank, as well as (2) an expected yield and a term premium. In addition, it is found that changes in the South African term premium may predict future real economic activity. Finally, the need for DSGE models to take account of financial frictions became apparent during the recent global financial crisis. As a result, the final essay incorporates a stylised banking sector into the benchmark DSGE model described above. The optimal response of the South African Reserve Bank to financial shocks is then analysed within the context of this structural model. Doctoral 2014-04-16T17:28:06Z 2014-04-16T17:28:06Z 2014-04 Thesis http://hdl.handle.net/10019.1/86196 en_ZA Stellenbosch University 140 p. : ill. application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Dissertations -- Economics Theses -- Economics Macroeconomics -- Econometric models Economic forecasting -- Econometric models South Africa -- Economic conditions -- Econometric models UCTD Steinbach, Max Rudibert Essays on dynamic macroeconomics |
| title | Essays on dynamic macroeconomics |
| title_full | Essays on dynamic macroeconomics |
| title_fullStr | Essays on dynamic macroeconomics |
| title_full_unstemmed | Essays on dynamic macroeconomics |
| title_short | Essays on dynamic macroeconomics |
| title_sort | essays on dynamic macroeconomics |
| topic | Dissertations -- Economics Theses -- Economics Macroeconomics -- Econometric models Economic forecasting -- Econometric models South Africa -- Economic conditions -- Econometric models UCTD |
| url | http://hdl.handle.net/10019.1/86196 |
| work_keys_str_mv | AT steinbachmaxrudibert essaysondynamicmacroeconomics |