A Revised Quarterly Projection Model for South Africa
Shaun de Jager, Michael Johnston and Rudi Steinbach
Last Modified Date:
2021-05-28, 12:18 PM
Publications > Working Papers
This paper extends earlier work by De Jager (2007) to construct a semi-structural general equilibrium model for medium-term forecasting and causal policy analysis. It incorporates a traditional New Keynesian small open economy structure with a term structure of interest rates, an uncovered interest parity condition which is augmented by the terms of trade and current account, and a world block which describes the evolution of trade-weighted foreign composites.