Stock-and-flow-consistent macroeconomic model for South Africa

Arbeitspapier

We develop a stock-and-flow-consistent model for South Africa with four financial instruments and detailed balance sheets for the household, government, financial, non-financial, and foreign sectors and the Reserve Bank. Though micro-founded, the model departs significantly from current dynamic stochastic general equilibrium models as it assumes bounded rationality and no Ricardian equivalence. The stock and flow consistency makes it better suited to studying balance sheet dynamics and the real sector/financial sector interaction. In the model, cyclical flow changes affect the long-term real and financial behaviour of institutions through their impact on the respective institutional assets and liabilities stocks.

Angaben zum Objekt

• ISBN: 978-92-9256-449-0
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: WIDER Working Paper ; No. 2018/7

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Computable General Equilibrium Models ; General Equilibrium and Disequilibrium: Financial Markets ; Computable and Other Applied General Equilibrium Models ; Financial Markets and the Macroeconomy ; Money and Interest Rates: Forecasting and Simulation: Models and Applications
• Thema: stock and flow ; macroeconomic ; model ; financial ; computable general equilibrium

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Makrelov, Konstantin ; Arndt, Channing ; Davies, Rob ; Harris, Laurence
• Ereignis: Veröffentlichung
• (wer): The United Nations University World Institute for Development Economics Research (UNU-WIDER)
• (wo): Helsinki
• (wann): 2018

Weitere Informationen

• DOI: doi:10.35188/UNU-WIDER/2018/449-0
• Handle: http://hdl.handle.net/10419/190056
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ