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Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

- Evidence From South Africa
Af: Eliphas Ndou, Thabo Mokoena Engelsk Paperback

Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

- Evidence From South Africa
Af: Eliphas Ndou, Thabo Mokoena Engelsk Paperback
Tjek vores konkurrenters priser

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.

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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.

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Produktdetaljer
Sprog: Engelsk
Sider: 507
ISBN-13: 9783030198053
Indbinding: Paperback
Udgave:
ISBN-10: 3030198057
Kategori: Offentlig økonomi og beskatning
Udg. Dato: 27 aug 2020
Længde: 0mm
Bredde: 148mm
Højde: 210mm
Forlag: Springer Nature Switzerland AG
Oplagsdato: 27 aug 2020
Forfatter(e): Eliphas Ndou, Thabo Mokoena
Forfatter(e) Eliphas Ndou, Thabo Mokoena

Kategori Offentlig økonomi og beskatning

ISBN-13 9783030198053

Sprog Engelsk

Indbinding Paperback

Sider 507

Udgave

Længde 0mm

Bredde 148mm

Højde 210mm

Udg. Dato 27 aug 2020

Oplagsdato 27 aug 2020

Forlag Springer Nature Switzerland AG

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