Is there a Phillips curve relationship present in South Africa and if so, what form does it take? Traditionally the method to establish whether or not there is a relationship between the output gap and the change in inflation is merely to regress the latter on the former. This yields the...

Few countries have as serious an unemployment problem as South Africa. In the period 2000-2013 the narrow (and official) unemployment rate averaged 24.1%. The broad unemployment rate (which includes the discouraged unemployed) averaged 33.4%. At the same time the informal sector is very small...

Capital investment is a key function of government. However, for a number of reasons it has proven difficult for governments to ensure that capital investment represents value for money, is affordable, and is budgeted and accounted for in a prudent and transparent manner. This article discusses...

Developmental states are often associated with high economic growth. Japan, South Korea, China and Brazil are all examples, most of which grew at phenomenal rates. The National Development Plan in South Africa sets out the intention of the South African government to transform the government...

This article argues the case for a policy of “anchored flexibility” in the form of a flexible fiscal rule that allows for the pursuit of economic stability but always anchors that pursuit in fiscal sustainability. The rule is explicitly structured to be simple and is designed in analogy to...

The question this paper investigates is whether or not different metropolitan areas each constitute a separate housing market or whether or not there is a single South African housing market. Theory on the Law of One Price suggests that if products or geographic areas belong in the same market,...

During the last decade economic literature explored the presence of and reasons for what became known as "the great moderation" in the US and other G7 countries. "The great moderation" describes the decrease in economic volatility experienced in many of the G7 countries. This paper finds that in...