Inflation Dynamics in South Africa

1. Introduction
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Part I. Costs of Disinflation, Inflation Volatility and Policy Trade-offs

2. The Ball Approach to Disinflation Episodes, Output Costs and Sacrifice Ratios in South Africa
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3. The Output and Inflation Trade-off in South Africa
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4. Persistent Exchange Rate Volatility on the Taylor Curve
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5. Inflation Volatility and Non-Linear Effects of Inflation Shocks
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6. Exchange Rate Volatility Shock Effects on Inflation Volatility
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7. Does the Volatility of the R/US$ Exchange Rate Threshold Exert Non-Linear Effects on Inflation?
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8. Persistent and Non-Persistent Exchange Rate Depreciation Effects on Inflation
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9. Relative Services Price Dispersion, Trend Inflation and Inflation Volatility
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Part II. The Terms-of-Trade, Fiscal Policy, Labour Market Conditions and Inflation in South Africa

10. Negative Terms-of-Trade Shock, the Real Effective Exchange Rate and Repo Rate Adjustments
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11. Do Fiscal Policy Variables Drive Inflation in the Same Direction?
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12. What Would Inflation and Repo Rate Be in the Absence of Increased Government Expenditure?
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13. Labour Productivity and Unit Labour Costs Impact on Inflation: What Are the Implications for Monetary Policy?
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14. Labour Market Conditions, Positive Inflation Shocks and Policy Rate Responses
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Part III. The First Stage of the Exchange Rate Pass-through

15. Does World Import Growth Amplify Domestic Inflation Responses to Inflationary Shocks?
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16. Where Does the Exchange Rate Pass-Through to Import Price Inflation Threshold Lie?
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17. GDP Growth Threshold and Asymmetric Exchange Rate Pass-Through to Import Prices
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18. Inflation Rate and R/US$ Depreciation Shocks on Import Price Inflation: Inferences from Deviations from the 6 Per cent Inflation Rate
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Part IV. Direct Exchange Rate Pass-through and Causes of Non-Linear Inflation Responses to Rand-US Dollar Exchange Rate Depreciation Shocks

19. The Inflation–Finance–Growth Nexus: Where Does the Inflation Threshold Lie?
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20. The Output Gap, Exchange Rate Depreciation Shock and Inflation: Non-Linear Effects and Implications for Monetary Policy
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21. Do Economic Growth Regimes Impact the Pass-Through of Exchange Rate Shocks to Inflation?
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22. GDP Growth Threshold and Non-linear Effects of Repo Rate Shocks
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23. Asymmetric Effects of the Repo Rate and Inflation Rate Shocks on Economic Growth
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24. Do Deteriorating Business Cycle Indicators and Tight Credit Conditions Affect the Repo Rate Adjustment to Positive Inflation Shock?
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25. Rand/US Dollar Exchange Rate Pass-Through and the Inflation Environment
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26. Sovereign Spreads and Non-linear Responses of Inflation to the R/US$ Exchange Rate Depreciation Shocks
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27. Do Credit Regimes Play a Role in the Pass-Through of the Exchange Rate Depreciation Shocks to Inflation?
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Part V. Inflation Expectations and Monetary Policy

28. The Propagating Effects of Inflation Risk Factors and the Implications for the Inflation Outlook
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29. Upside Risk Factors to the Inflation Outlook and Long-Term Inflation Expectations
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30. Inflation Expectations, Adverse Aggregate Supply Shock and Long-Term Inflation Expectations
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31. Wage Increases in Excess of 6 Per cent, Inflationary Dynamics and Expectations
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Keywords: Economics, Macroeconomics/Monetary Economics//Financial Economics, Economic Growth, Public Economics, Regional/Spatial Science, Public Finance