Institutions are altered by conflict, depending on the scale, duration and type of war. At one extreme, formal political, social and economic institutions may be completely destroyed (e.g. Somalia), while the importance and type of informal institutions may be changed. This survey addresses some...

Official balance sheet estimates for the household sector are not currently available in South Africa, yet, with the country’s well developed financial sector and deep capital markets, asset market channels are likely to be important determinants of aggregate consumer spending and saving,...

Aggregate consumption typically exceeds 60 per cent of GDP and should be pivotal in central bank policy models. Most use semi-structural macro-models, yet consumption is usually inadequately specified. We use a systems approach to estimate new equations for South African consumption, house...