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Table of Contents
Chapter 1 Introduction
Chapter 2 Synopsis of fiscal policy in South Africa: 1994-2020
Part 1: Government debt
Chapter 3 Effects of government debt on output, household consumption and gross fixed capital formation: Role of the credit conditions channel
Chapter 4 Government debt and household consumption: the influence of the wealth channel
Chapter 5 Government debt and capital formation nexus in South Africa: The role of the debt threshold
Chapter 6 Government debt and fixed capital formation nexus: Effects of the interest rate and monetary policy credibility channels
Chapter 7 Inflation targeting band, the government debt and capital formation nexus in South Africa
Chapter 8 Do high government debt-to-GDP regimes propagate the adverse macro-economic effects of high budget deficit regimes?
Chapter 9 Debt-to-GDP ratio, investment growth and employment growth, and their response to high nominal GDP growth regimes
Chapter 10 The impact of the debt-to-GDP ratio on investment growth
Part 2: Fiscal budget balance deficits
Chapter 11 Budget deficit thresholds and their macroeconomic impact
Chapter 12 The impact of a persistent increase in the budget deficit on real interest rates
Chapter 13 What are the effects of budget deficit regimes on inflation and inflation expectations?
Part 3: Interest rates
Chapter 14 Widening budget deficits and investment growth dynamics
Chapter 15 Do high debt service costs reduce the potency of accommodative fiscal policy in South Africa?
Chapter 16 What are the macroeconomic effects of a positive interest rate-GDP growth differential shock?
Part 4: Economic policy uncertainty
Chapter 17 Economic policy uncertainty and the employment dynamics in South Africa under the inflation targeting regime
Chapter 18 Economic policy uncertainty, employment dynamics and price stability in South Africa
Chapter 19 The role of economic and policy uncertainty on the effects of widening budget deficits on yields and the credit default swap spreads
Chapter 20 Summary of main findings and policy implications.
Chapter 2 Synopsis of fiscal policy in South Africa: 1994-2020
Part 1: Government debt
Chapter 3 Effects of government debt on output, household consumption and gross fixed capital formation: Role of the credit conditions channel
Chapter 4 Government debt and household consumption: the influence of the wealth channel
Chapter 5 Government debt and capital formation nexus in South Africa: The role of the debt threshold
Chapter 6 Government debt and fixed capital formation nexus: Effects of the interest rate and monetary policy credibility channels
Chapter 7 Inflation targeting band, the government debt and capital formation nexus in South Africa
Chapter 8 Do high government debt-to-GDP regimes propagate the adverse macro-economic effects of high budget deficit regimes?
Chapter 9 Debt-to-GDP ratio, investment growth and employment growth, and their response to high nominal GDP growth regimes
Chapter 10 The impact of the debt-to-GDP ratio on investment growth
Part 2: Fiscal budget balance deficits
Chapter 11 Budget deficit thresholds and their macroeconomic impact
Chapter 12 The impact of a persistent increase in the budget deficit on real interest rates
Chapter 13 What are the effects of budget deficit regimes on inflation and inflation expectations?
Part 3: Interest rates
Chapter 14 Widening budget deficits and investment growth dynamics
Chapter 15 Do high debt service costs reduce the potency of accommodative fiscal policy in South Africa?
Chapter 16 What are the macroeconomic effects of a positive interest rate-GDP growth differential shock?
Part 4: Economic policy uncertainty
Chapter 17 Economic policy uncertainty and the employment dynamics in South Africa under the inflation targeting regime
Chapter 18 Economic policy uncertainty, employment dynamics and price stability in South Africa
Chapter 19 The role of economic and policy uncertainty on the effects of widening budget deficits on yields and the credit default swap spreads
Chapter 20 Summary of main findings and policy implications.