Macroeconomic modelling for policy formulation

National Treasury (NT) is central to macroeconomic policy in South Africa and holds a key role in maintaining macroeconomic stability around an achievable path of growing output capacity. This work stream is designed to further strengthen the capacity of NT, alongside other actors in the region, and to analyse macroeconomic developments and policy options in southern Africa.

Work on macroeconomic simulation models will be undertaken alongside separate studies related to macroeconomic stability, e.g. fiscal and monetary policies, exchange rate competitiveness, and exchange rate volatility. Two central policy objectives underlie and run through the work stream: raising South Africa’s sustainable growth rate and reducing inequality in South Africa.

The research is focused on five broad areas of policy focus

  • fiscal policy
  • monetary policy
  • public investment and debts
  • regional policy
  • core policy analysis models of South African economy

Each area will engage junior NT officials as team members working jointly with the UNU-WIDER and NT team leaders on the respective topics.

In the media
In speech to parliament, Finance Minister praises SA-TIED
by SA-TIED
During a speech to parliament on Tuesday, South Africa’s Finance Minister, Tito Mboweni, discussed the important work being carried out by the...
12 December 2019
enterprise_development
public_revenue
macroeconomics
inequality
climate
regional_growth
Journal Article
By Konstantin Makrelov, Channing Arndt, Rob Davies, and Laurence Harris
We analyse implications of financial sector dynamics for fiscal expenditure multipliers in recessionary conditions. A new stock-flow consistent model...
29 October 2019
macroeconomics
Request for research proposals
Request for Research Proposals - Macroeconomic Analysis
by SA-TIED
United Nations University World Institute for Development Economics Research (UNU-WIDER), together with its partners, now invites research proposals...
10 October 2019
macroeconomics
Working paper
SA-TIED Working Paper #74
by Dirk van Seventer and Rob Davies
Examining the economy-wide consequences of South Africa following a similar trajectory of labour market polarization to the rest of the world...
30 September 2019
macroeconomics
Vacancy
SA-TIED
The United Nations University World Institute for Development Economics Research (UNU-WIDER), together with its partners, now invites interested pa
06 September 2019
enterprise_development
public_revenue
macroeconomics
inequality
climate
regional_growth
Working paper
SATIED Working Paper #68
by Refilwe Mokanse, Dorcas Kayo, Yoliswa Sambo, Mkhulu Maseko, and Cigdem Aslan
The research proposes a general approach to assessing and accurately quantifying fiscal obligations and the state’s contingent liabilities that arise...
16 July 2019
macroeconomics
In the media
SA-TIED research featured in the Financial Mail
by SA-TIED
A recent working paper from the SA-TIED programme’s body of new research has been featured in the largest business weekly in South Africa. The...
11 July 2019
macroeconomics
Working paper
SA-TIED Working Paper #61
by Rob Davies and Dirk van Seventer
This paper introduces a framework of advisory basic principles to be employed by users of economy-wide models such as those used in policy analysis...
15 May 2019
macroeconomics
Technical workshop
SA-TIED research specialists in statistics, quantitative analysis, and econometrics, from the workstream on 
16 April 2019
macroeconomics
Technical workshop
SA-TIED's work stream on macroeconomic modelling for policy formulation will hold a techn
28 March 2019
macroeconomics
Working paper
SA-TIED Working Paper #52
by Goodness Aye and Laurence Harris
The study investigates the effect of real exchange rate volatility on the distribution of income between labour and capital in South Africa. Both...
28 March 2019
macroeconomics
Working paper
SA-TIED Working Paper #51
by Rob Davies, Laurence Harris, and Konstantin Makrelov
We employ a micro founded and stock and flow consistent model in the tradition of Backus et al. (1980) to study the impact of higher leverage ratio...
28 March 2019
macroeconomics