We study the welfare effects of non-binding advance price announcements. Applying a differentiated Bertrand model with horizontal products and asymmetric information, we find that such announcements can help firms to gain information on each other thereby allowing them to achieve higher profits....

Introduction -- Part I - Looking Back: What Do We Know About the South African Business Cycle? -- The South African Economy in the Twentieth Century -- Part II - The Financial Crisis and Its Impact on the Cycle: Business Cycle Recoveries - A Comparative View -- The Role of Institutional...

The paper investigates the price and income elasticity of gasoline (petrol), diesel and jet fuel demand in South Africa using autoregressive distributed lag (ARDL) models. We compare elasticity estimates for 1982Q1-2010Q4 with estimates for 1998Q1-2010Q4. Price and income elasticity estimates...