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Working paper
While much research has been done on the economic impacts of load-shedding in South Africa, fewer studies have focused on the effects of the rapidly rising electricity tariffs. The issue of tariff increases has now...
March 2018
Enterprise development
Working paper
This paper presents a financial-real stock-and-flow-consistent model of the South African economy. The model dynamics build on the simple computable general equilibrium (CGE) model developed by Devarajan and Go (1998) and incorporate elements of dynamic...
January 2018
Macro-fiscal analysis
Working paper
We analyse implications of financial sector dynamics for fiscal expenditure multipliers in recessionary conditions. We employ a stock-and-flow-consistent model for South Africa with four financial instruments and detailed balance sheets for the household, government, financial...
January 2018
Macro-fiscal analysis