کتاب دانلود کتب لاتین علوم انسانیسیاست
نابرابری، مصالحه تورم خروجی و عدم اطمینان سیاست اقتصادی - شواهدی از آفریقای جنوبی
نابرابری، مصالحه تورم خروجی و عدم اطمینان سیاست اقتصادی - شواهدی از آفریقای جنوبی

Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty - Evidence From South Africa
نویسنده: Eliphas Ndou, Thabo Mokoena
سال انتشار: 2019
تعداد صفحات: 518
زبان فایل: English
فرمت فایل: pdf
حجم فایل: 13MB

دانلود رایگان

Publisher : Palgrave Macmillan

ISBN-10 : 3030198057, 3030198022

ISBN-13 : 978-3030198053, 978-3030198022

ASIN : B07WMQW6YC

This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies’ cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies’ cash holdings. Increased companies’ cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.