Central Bank policy and the exchange rate under an inflation targeting regime: a case dtudy of South Africa

Gonzo, Prosper

Title: Central Bank policy and the exchange rate under an inflation targeting regime: a case dtudy of South Africa
Creator: Gonzo, Prosper
Subject: Foreign exchange rates -- Government policy -- South Africa
Subject: Inflation (Finance) -- South Africa
Subject: Monetary policy -- South Africa
Subject: Banks and banking, Central -- South Africa
Subject: South Africa -- Economic conditions
Subject: Banking industry -- Finance -- South Africa
Date Issued: 2013
Date: 2013
Type: Thesis
Type: Masters
Type: M Com
Identifier: vital:11476
Identifier: http://hdl.handle.net/10353/d1015043
Identifier: Foreign exchange rates -- Government policy -- South Africa
Identifier: Inflation (Finance) -- South Africa
Identifier: Monetary policy -- South Africa
Identifier: Banks and banking, Central -- South Africa
Identifier: South Africa -- Economic conditions
Identifier: Banking industry -- Finance -- South Africa
Description: This work examined the optimality of the inclusion of the exchange rate in the reaction function of the Central Bank in an inflation targeting framework. The study attempts to answer the question whether the exchange rate should have an independent role in an open economy Taylor-type rule. To this end, a Taylor-type rule is incorporating the exchange rate is estimated by the cointegration and vector error correction modeling (VECM) using quarterly data for the period of 1995 to 2009. The empirical studies point out the importance of the exchange rates in explaining and forecasting the behaviour of the South African Reserve Bank monetary policy control variable.
Format: 138 leaves; 30 cm
Format: pdf
Publisher: University of Fort Hare
Publisher: Faculty of Management & Commerce
Language: English
Rights: University of Fort Hare

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