The term spread, inflation and economic activity in a simple model of the monetary transmission mechanism

dc.contributor.author	Murekezi, Gaju Brigitte
dc.date.accessioned	2008-03-26T08:36:49Z
dc.date.available	2008-03-26T08:36:49Z
dc.date.issued	2008-03-26T08:36:49Z
dc.description.abstract	Abstract This paper presents a simple and transparent framework for the monetary transmission mechanism of the South African economy based on the model by Rudebusch and Svensson (1999). This model is extended to consider the long rate and the credit channel in the transmission mechanism. Firstly, we find that the credit channel plays a significant role in the transmission mechanism. Secondly, despite the backward looking nature of the model, impulse responses reveal that the term spread predicts output and inflation in the South African economy.	en
dc.format.extent	185542 bytes
dc.format.extent	6639 bytes
dc.format.mimetype	application/pdf
dc.format.mimetype	application/pdf
dc.identifier.uri	http://hdl.handle.net/10539/4711
dc.language.iso	en	en
dc.subject	term spread	en
dc.subject	credit channel	en
dc.subject	interst rate channel	en
dc.title	The term spread, inflation and economic activity in a simple model of the monetary transmission mechanism	en
dc.type	Thesis	en

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