This study investigates the state, development and drivers of banking market integration in the member countries of the Southern African Development Community (SADC). A Principal Component Analysis (PCA) of national retail interest rates indicates increasing integration in loan and deposit...

The inflation expectations channel of the transmission mechanism is generally recognised as crucial for the implementation of modern monetary policy. This paper briefly reviews the practices commonly employed for measuring inflation expectations in South Africa, and offers an additional method,...

Price stability is widely recognised as the primary goal of modern monetary policy, and the management of private sector inflation expectations has become an essential channel through which this goal is achieved. This evaluation aims to improve the understanding of how the sensitivity of private...

In the first chapter, I analyze the US banking industry in order to explain two facts. First, larger banks have lower but less volatile returns on loans compared to smaller banks over the years. Second, larger borrowers have better financial records, i.e. verifiable "hard" information, and they...

In the first chapter, I examine an incomplete markets economy in a politico-economic general equilibrium setting in which the median voter chooses the inflation rate. I use an environment where individuals face an uninsurable idiosyncratic labor productivity shock, and money is the only asset....

Thesis (PhD (Economics))--Stellenbosch University, 2011.

Economics

ENGLISH ABSTRACT: The effectiveness of monetary policy depends importantly on the expectations of the private sector, as it is largely through this channel of the transmission mechanism that policy changes are transmitted to long-term interest rates. This has increased the emphasis on the role...

Este documento analiza la información contenida en medidas alternativas de expectativas de inflación —incluidas las obtenidas a partir de consumidores, empresas, expertos y mercados financieros—, en el contexto de curvas de Phillips de economía abierta. Adoptando una aproximación...

En este documento se ofrece una panorámica de la evolución de la inflación a escala global en la última década y se trata de descubrir qué factores podrían explicar los niveles muy bajos de inflación durante la recuperación de la Gran Recesión. Se hace una revisión de la literatura...