Téléchargez le livre : Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

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

Evidence From South Africa

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Éditeur :

Palgrave Macmillan


Paru le : 2019-08-13



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Description

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.
Pages
507 pages
Collection
n.c
Parution
2019-08-13
Marque
Palgrave Macmillan
EAN papier
9783030198022
EAN PDF
9783030198039
Informations sur l'ebook
Nombre pages copiables
5
Nombre pages imprimables
50
Taille du fichier
13568 Ko
Ce livre est accessible aux handicaps Voir les informations sur l'accessibilité
Prix
73,84 €
EAN EPUB
9783030198039
Informations sur l'ebook
Nombre pages copiables
5
Nombre pages imprimables
50
Taille du fichier
19999 Ko
Ce livre est accessible aux handicaps Voir les informations sur l'accessibilité
Prix
73,84 €

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