Labour Market and Fiscal Policy Adjustments to Shocks

The Role and Implications for Price and Financial Stability in South Africa

Authors: Gumata, Nombulelo, Ndou, Eliphas

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  • Showcases the implications of the national minimum wage on the price stability mandate by bringing the South African labour market structure into the discussion
  • Deals with diverse indicators of the labor market developments by constructing labour market conditions indices
  • Discusses the role of labour market conditions channel and tests whether labour market conditions matter for credit dynamics
  • Introduces the role of fiscal policy within price stability
  • Explores the potency of the output channel of borrowing costs and sovereign debt changes
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eBook $129.00
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  • ISBN 978-3-319-66520-7
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  • Immediate eBook download after purchase
Hardcover $169.99
price for USA
  • ISBN 978-3-319-66519-1
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  • Usually dispatched within 3 to 5 business days.
Softcover $169.99
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  • Customers within the U.S. and Canada please contact Customer Service at +1-800-777-4643, Latin America please contact us at +1-212-460-1500 (24 hours a day, 7 days a week).
  • Due: March 6, 2019
  • ISBN 978-3-319-88262-8
  • Free shipping for individuals worldwide
About this book

This book focuses on the implications of the South African labour market dynamics including labour market reforms and fiscal policy for monetary policy and financial stability. Evidence suggests there are benefits in adopting an approach that coordinates labour market policies and reforms, fiscal policy, price and financial stability. In particular, the benefits of coordinating policies present policymakers with policy options in cases where they are confronted by binding policy trade-offs and dilemmas, such as in cases when there is divergence in price and financial and economic growth outcomes.

The empirical insights and policy recommendations are based on different techniques that include the counterfactual and endogenous-exogenous approaches, non-linearities introduced by thresholds and the impact of persistent and transitory shock effects. Themes covered in the book include various aspects of labour market conditions and reforms and their link to inflation and inflation expectations, the impact of the national minimum wage, the interaction between public and private sector wage inflation, economic policy uncertainty and employment, government debt thresholds, sovereign yields and debt ratings downgrades, labour productivity, the impact of inflation regimes on expansionary fiscal and monetary policy multipliers, the increase in government cost of funding on price and financial stability and the link between fiscal policy and credit dynamics.

About the authors

Nombulelo Gumata is a part-time lecturer at the Centre for Education in Economics and Finance Africa. She is the co-author of Global Growth and Financial Spill-Overs and South African Economy and Bank Credit Extension and Real Economic Activity in South Africa: The Impact of Capital Flow Dynamics, Bank Regulation and Selected Macroprudential Tools.

Eliphas Ndou is an economist at the South African Reserve Bank and a lecturer at the University of the Witwatersrand, Johannesburg, South Africa. He is the co-author of Inflation Dynamics in South Africa: The Role of Thresholds, Exchange-rate Pass Through and Inflation Expectations on Policy Trade-offs and Monetary Policy and the Economy in South Africa.  

Table of contents (38 chapters)

Table of contents (38 chapters)
  • Introduction

    Gumata, Nombulelo (et al.)

    Pages 3-20

  • Does the Beveridge Curve Exist in the South African Case, and What Are the Implications for Monetary Policy?

    Gumata, Nombulelo (et al.)

    Pages 21-41

  • Does the Unemployment Invariance Hypothesis Hold in South Africa?

    Gumata, Nombulelo (et al.)

    Pages 43-56

  • Does Price Stability Benefit from a Positive Shock in the Labour Force Participation Rate?

    Gumata, Nombulelo (et al.)

    Pages 57-67

  • Is There an Inflation–GDP Growth–Employment Nexus in South Africa Within the 6 per cent Inflation Threshold?

    Gumata, Nombulelo (et al.)

    Pages 69-90

Buy this book

eBook $129.00
price for USA (gross)
  • ISBN 978-3-319-66520-7
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.99
price for USA
  • ISBN 978-3-319-66519-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $169.99
price for USA
  • Customers within the U.S. and Canada please contact Customer Service at +1-800-777-4643, Latin America please contact us at +1-212-460-1500 (24 hours a day, 7 days a week).
  • Due: March 6, 2019
  • ISBN 978-3-319-88262-8
  • Free shipping for individuals worldwide

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Bibliographic Information

Bibliographic Information
Book Title
Labour Market and Fiscal Policy Adjustments to Shocks
Book Subtitle
The Role and Implications for Price and Financial Stability in South Africa
Authors
Copyright
2017
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-66520-7
DOI
10.1007/978-3-319-66520-7
Hardcover ISBN
978-3-319-66519-1
Softcover ISBN
978-3-319-88262-8
Edition Number
1
Number of Pages
LI, 599
Number of Illustrations
328 b/w illustrations, 25 illustrations in colour
Topics