growth (as a demand variable) is limited. The analysis also argues that the sacrifice ratio, measuring the sacrifice of …

This paper estimates the output cost of fighting inflation-the sacrifice ratio-for the South African economy using … quarterly data spanning the period 1998Q1-2019Q3. To compute the sacrifice ratio, the structural vector autoregressive model … developed by Cecchetti and Rich (2001) based on Cecchetti (1994) is employed. Our findings show us a small sacrifice ratio …