Part 1 Labour Market Characteristics and Monetary Policy
1: Introduction
2: Does the Beveridge Curve Exist in the South African Case, and What Are the Implications for Monetary Policy?
3: Does the Unemployment Invariance Hypothesis Hold in South Africa?
4: Does Price Stability Benefit from a Positive Shock in the Labour Force Participation Rate?
5: Is There an Inflation-GDP Growth-Employment Nexus in South Africa Within the 6 per cent Inflation Threshold?
Part 2 The Minimum Wage and Theoretical Predictions
6: Which Labour Market Structure Model Predictions Are Consistent with the Effects of a Minimum Wage on Inflation in South Africa?
7: The Minimum Wage, Income Inequality and the Price-Stability Mandate
8: The Efficiency Wage Hypothesis, Labour Productivity and the Minimum Wage
9: The Impact of the Minimum Wage on Capital-Labour Ratio Dynamics
Part 3 Labour Market Reforms and Price Stability
10: Labour Market Reforms and the Price Stability Mandate
11: Loosening in Collective Bargaining Impact on CPI and Inflation Expectations
12: Labour Market Reforms, Unit Labour Costs Shocks and Inflation Persistence
Part 4 Labour Market Conditions, Labour Productivity, Inflation Expectations and Monetary Policy
13: The Labour Market Conditions Channel in the Transmission of Positive Inflation and Inflation Expectation Shocks to the Repo Rate Reaction?
14: Real Interest Rate Shock, Labour Productivity and the 6 per cent Inflation Threshold
15: Capital Flow Surges and Sudden Stops Impact on the Sectorial Composition of Employment and Productivity Growth
16: Labour Productivity Growth and Inflation Expectations
Part 5 Labour Market Interactions with Selected Macroprudential Tools and Monetary Policy
17: Labour Market Conditions Shocks and Credit Growth
18: Weak Labour Productivity, Tight Credit Conditions and Monetary Policy
19: Labor Productivity and Labor Market Conditions Impact on Household Debt
20: Labour Market Reforms, Inflation Expectations and the Banks' Required Reserves Channel
Part 6 The Interaction Between the Public-Private Sector Wages and Employment Growth.- 21: Price Stability Impact on Wage Growth in the Public and Private Sectors
22: Public and Private Sector Employment and the Jobs Displacement Effects
23: Public Sector Wages and Implications for the Budget Balance
24: The Economic Policy Uncertainty Channel and Employment Dynamics
Part 7 Nominal Wage Dynamics and Price Stability 25: The Inflation-Wage Spiral, Inflation Expectations and Monetary Policy
26: The 6 Per cent Inflation Threshold and the Transmission of Nominal Wage Shocks to Inflation Expectations
Part 8 The Fiscal Policy Taxation Channel
27: Do Government Debt Thresholds Impact the Transmission of Tax Shock Effects to GDP growth?
28: Fiscal Policy Variables Shock Impact on Inflation and GDP growth?
29: Income Tax Shocks and the Inflation-Output Volatility Trade-offs
30: Do Positive Tax Revenue Shocks Impact Financial and Credit Conditions?
31: Tax Revenue Shocks Effects on The Repo Rate and Inflation
Part 9 The Fiscal Policy Government Spending Cuts Channel
32: Does Government Spending Transmit Inflation to GDP growth?
33: Fiscal Spending Cut effects on CPI Inflation and Monetary Policy Cycles
Part 10 The Government Consumption Spending, Lending Spreads and the Cost of Borrowing Channels
34: Do Sovereign Yield Spreads Transmit Contractionary Fiscal Policy Shocks?
35: Fiscal Policy and Sovereign Spread Shocks: Risks and Policy Implications
36: How Potent Is the Output Channel of Borrowing Costs?
37: How Does a Positive Borrowing Costs Shock Impact Price Stability?
Part 11 Fiscal Policy, the Current Account and Transmission to Credit
38: Fiscal Policy Shocks and the Current Account
39: The Impact of Six Per cent Inflation on M3 and Credit on GDP
40: Does Inflation Neutralise the Multiplier Effects of Expansionary Monetary and Fiscal Policy on GDP Growth?