Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty / Ndou, Eliphas  

Público ISBD Ningún comentario para este registro. Título : Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty : Evidence From South Africa Tipo de documento: documento electrónico Autores: Ndou, Eliphas, Autor ; Mokoena, Thabo, Autor Mención de edición: 1 ed. Editorial: [s.l.] : Springer Fecha de publicación: 2019 Número de páginas: XXXVII, 507 p. 264 ilustraciones, 62 ilustraciones en color. ISBN/ISSN/DL: 978-3-030-19803-9 Nota general: Libro disponible en la plataforma SpringerLink. Descarga y lectura en formatos PDF, HTML y ePub. Descarga completa o por capítulos. Palabras clave: Finanzas  Hacienda pública  Economía Internacional  Macroeconomía y economía monetaria  Política económica  Relaciones económicas internacionales  Macroeconomía  Condiciones económicas  África  Economía africana Índice Dewey: 330.96 Resumen: Este libro se centra en la desigualdad de ingresos, el equilibrio entre producción e inflación y la incertidumbre de la política económica en Sudáfrica. Las políticas monetarias y macroprudenciales estrictas aumentan la desigualdad de ingresos. La desigualdad de ingresos transmite los shocks de política monetaria y de política macroprudencial a la actividad económica real. La incertidumbre de la política económica influye en la dinámica de los márgenes de los tipos de interés de los préstamos, las expectativas de inflación, el crédito, la transmisión del tipo de interés repo a los tipos de los préstamos bancarios y las tenencias de efectivo de las empresas. El equilibrio entre producción e inflación y la persistencia del crecimiento del producto varían según los regímenes inflacionarios. Los shocks de políticas de estimulación de la demanda son menos efectivos en un régimen de alta inflación. La alta desigualdad de ingresos aumenta la desigualdad del consumo, lo que aumenta la demanda de crédito, pero la estabilidad de precios es importante en este sentido. Una mayor concentración bancaria aumenta la desigualdad de ingresos, reduce el crecimiento económico y la tasa de empleo. La elevada incertidumbre en materia de política económica reduce el crecimiento de la producción, reduce la formación de capital, reduce el crédito y aumenta las tenencias de efectivo de las empresas. El aumento de las tenencias de efectivo de las empresas reduce la formación de capital y afecta la transmisión de los shocks de la política monetaria expansiva a la actividad económica real. Este libro muestra que hay un nivel de inflación dentro de la banda meta por debajo de ella que reduce la desigualdad de ingresos, al tiempo que aumenta el crecimiento del PIB y el empleo. Por lo tanto, la estabilidad de precios, la incertidumbre de las políticas económicas y la desigualdad de ingresos son importantes para la transmisión eficiente de los shocks de política. Nota de contenido: 1. Introduction -- Part 1: Income inequality and GDP Growth and inflation regime -- 2. Income inequality and GDP growth nexus in South Africa: Does the 4.5 percent consumer price inflation threshold and other channels play a role? -- 3. Does the inflation rate below 4.5 percent matter for the distributional effects of positive inflation shocks on income inequality in South Africa? -- Part 2: Inequality and monetary policy -- 4. Does income inequality channel impact the transmission of monetary policy shocks to economic activity? -- 5. Do monetary policy shocks influence income inequality dynamics in South Africa? -- 6. Does trade openness impact the link between monetary policy and both income inequality and consumption inequality? -- 7. Does financial globalisation impact the link between monetary policy and income inequality? -- Part 3: Role of monetary channel in transmitting shocks to income inequality -- 8. Does monetary policy impact theeffects of shares of manufacturing employment shocks on income inequality? -- 9. Is there a role for the monetary policy channel in transmitting positive shocks to the services sector employment shares to income inequality? -- Part 4: Consumption inequality -- 10. Does the consumption inequality channel impact the transmission of positive income inequality shocks to credit dynamics in South Africa? Insights before 2009Q1 -- 11. Does price stability impact the link between income inequality and consumption inequality? -- Part 5: Macroprudential policy and income inequality -- 12. Do positive excess capital adequacy ratio shocks influence the income inequality dynamics in South Africa? -- 13. Does a loose loan to value ratio shock have any distributive effects via the inequality channel? -- 14. Is the National Credit Act a driver of growth of income inequality? -- 15. Can an unexpected loosening in labour market reforms reduce growth of income inequality in South Africa? -- Part 6: Bank concentration and income inequality and other channels -- 16. Do positive bank concentration shocks impact economic growth in South Africa? -- 17. Does the increase in banking concentration impact income inequality in South Africa? -- 18. Do positive bank concentration shocks impact on employment in South Africa? -- Part 7: Output-inflation trade-off and role of inflation regimes -- 19. Is there evidence of the trade offs in output and inflation volatilities in South Africa? -- 20. To what extent does output-inflation trade-off exist in South Africa and is it impacted by the six percent inflation threshold? -- 21. Do inflation regimes affect the transmission of nominal demand shocks to the consumer price level? -- 22. Do positive nominal volatility shocks reduce output-inflation trade off and is there a role for inflation regimes? -- Part 8: Output growth persistence and inflation -- 23. Does the persistence of output growth depend on the inflation regimes? -- 24. Do the effects of expansionary monetary policy shocks on output persistence depend on the inflation regimes? -- 25. Output and policy ineffectiveness proposition: A perspective from single regression equations -- Part 9: Uncertainty, expansionary monetary and fiscal policy multipliers -- 26. Does the economic policy uncertainty channel impact the influence of expansionary monetary policy changes on output dynamics? -- 27. How does inflation impact the effects of expansionary monetary and fiscal policies on real GDP growth? -- 28. The time-varying pass-through of the lending rate responses to the repo rate changes and loan intermediation mark-up -- 29. Do economic policy uncertainty shocks impact bank lending rate margins? -- 30. Does economic policy uncertainty impact the pass-through of the repo rate to bank lending rates? -- Part 10: Economic policy uncertainty and the Lending, Credit and cash holding channels -- 31. Are credit growth reactions to expansionary monetary policy shocks weakened by heightened economic policy uncertainty? -- 32. Do companies' cash holdings impact the transmission of economic policy uncertainty shocks to capital formation? -- 33. Does an increase in the value of companies' cash holdings impact the transmission of expansionary monetary policy shocks? Counterfactual policy analysis -- 34. Does an unexpected reduction in economic policy uncertainty impact inflation expectations?. En línea: https://link-springer-com.biblioproxy.umanizales.edu.co/referencework/10.1007/97 [...] Link: https://biblioteca.umanizales.edu.co/ils/opac_css/index.php?lvl=notice_display&i Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty : Evidence From South Africa [documento electrónico] / Ndou, Eliphas, Autor ; Mokoena, Thabo, Autor  . -  1 ed.  . - [s.l.] : Springer, 2019 . - XXXVII, 507 p. 264 ilustraciones, 62 ilustraciones en color. ISBN : 978-3-030-19803-9 Libro disponible en la plataforma SpringerLink. Descarga y lectura en formatos PDF, HTML y ePub. Descarga completa o por capítulos. Palabras clave: Finanzas  Hacienda pública  Economía Internacional  Macroeconomía y economía monetaria  Política económica  Relaciones económicas internacionales  Macroeconomía  Condiciones económicas  África  Economía africana Índice Dewey: 330.96 Resumen: Este libro se centra en la desigualdad de ingresos, el equilibrio entre producción e inflación y la incertidumbre de la política económica en Sudáfrica. Las políticas monetarias y macroprudenciales estrictas aumentan la desigualdad de ingresos. La desigualdad de ingresos transmite los shocks de política monetaria y de política macroprudencial a la actividad económica real. La incertidumbre de la política económica influye en la dinámica de los márgenes de los tipos de interés de los préstamos, las expectativas de inflación, el crédito, la transmisión del tipo de interés repo a los tipos de los préstamos bancarios y las tenencias de efectivo de las empresas. El equilibrio entre producción e inflación y la persistencia del crecimiento del producto varían según los regímenes inflacionarios. Los shocks de políticas de estimulación de la demanda son menos efectivos en un régimen de alta inflación. La alta desigualdad de ingresos aumenta la desigualdad del consumo, lo que aumenta la demanda de crédito, pero la estabilidad de precios es importante en este sentido. Una mayor concentración bancaria aumenta la desigualdad de ingresos, reduce el crecimiento económico y la tasa de empleo. La elevada incertidumbre en materia de política económica reduce el crecimiento de la producción, reduce la formación de capital, reduce el crédito y aumenta las tenencias de efectivo de las empresas. El aumento de las tenencias de efectivo de las empresas reduce la formación de capital y afecta la transmisión de los shocks de la política monetaria expansiva a la actividad económica real. Este libro muestra que hay un nivel de inflación dentro de la banda meta por debajo de ella que reduce la desigualdad de ingresos, al tiempo que aumenta el crecimiento del PIB y el empleo. Por lo tanto, la estabilidad de precios, la incertidumbre de las políticas económicas y la desigualdad de ingresos son importantes para la transmisión eficiente de los shocks de política. Nota de contenido: 1. Introduction -- Part 1: Income inequality and GDP Growth and inflation regime -- 2. Income inequality and GDP growth nexus in South Africa: Does the 4.5 percent consumer price inflation threshold and other channels play a role? -- 3. Does the inflation rate below 4.5 percent matter for the distributional effects of positive inflation shocks on income inequality in South Africa? -- Part 2: Inequality and monetary policy -- 4. Does income inequality channel impact the transmission of monetary policy shocks to economic activity? -- 5. Do monetary policy shocks influence income inequality dynamics in South Africa? -- 6. Does trade openness impact the link between monetary policy and both income inequality and consumption inequality? -- 7. Does financial globalisation impact the link between monetary policy and income inequality? -- Part 3: Role of monetary channel in transmitting shocks to income inequality -- 8. Does monetary policy impact theeffects of shares of manufacturing employment shocks on income inequality? -- 9. Is there a role for the monetary policy channel in transmitting positive shocks to the services sector employment shares to income inequality? -- Part 4: Consumption inequality -- 10. Does the consumption inequality channel impact the transmission of positive income inequality shocks to credit dynamics in South Africa? Insights before 2009Q1 -- 11. Does price stability impact the link between income inequality and consumption inequality? -- Part 5: Macroprudential policy and income inequality -- 12. Do positive excess capital adequacy ratio shocks influence the income inequality dynamics in South Africa? -- 13. Does a loose loan to value ratio shock have any distributive effects via the inequality channel? -- 14. Is the National Credit Act a driver of growth of income inequality? -- 15. Can an unexpected loosening in labour market reforms reduce growth of income inequality in South Africa? -- Part 6: Bank concentration and income inequality and other channels -- 16. Do positive bank concentration shocks impact economic growth in South Africa? -- 17. Does the increase in banking concentration impact income inequality in South Africa? -- 18. Do positive bank concentration shocks impact on employment in South Africa? -- Part 7: Output-inflation trade-off and role of inflation regimes -- 19. Is there evidence of the trade offs in output and inflation volatilities in South Africa? -- 20. To what extent does output-inflation trade-off exist in South Africa and is it impacted by the six percent inflation threshold? -- 21. Do inflation regimes affect the transmission of nominal demand shocks to the consumer price level? -- 22. Do positive nominal volatility shocks reduce output-inflation trade off and is there a role for inflation regimes? -- Part 8: Output growth persistence and inflation -- 23. Does the persistence of output growth depend on the inflation regimes? -- 24. Do the effects of expansionary monetary policy shocks on output persistence depend on the inflation regimes? -- 25. Output and policy ineffectiveness proposition: A perspective from single regression equations -- Part 9: Uncertainty, expansionary monetary and fiscal policy multipliers -- 26. Does the economic policy uncertainty channel impact the influence of expansionary monetary policy changes on output dynamics? -- 27. How does inflation impact the effects of expansionary monetary and fiscal policies on real GDP growth? -- 28. The time-varying pass-through of the lending rate responses to the repo rate changes and loan intermediation mark-up -- 29. Do economic policy uncertainty shocks impact bank lending rate margins? -- 30. Does economic policy uncertainty impact the pass-through of the repo rate to bank lending rates? -- Part 10: Economic policy uncertainty and the Lending, Credit and cash holding channels -- 31. Are credit growth reactions to expansionary monetary policy shocks weakened by heightened economic policy uncertainty? -- 32. Do companies' cash holdings impact the transmission of economic policy uncertainty shocks to capital formation? -- 33. Does an increase in the value of companies' cash holdings impact the transmission of expansionary monetary policy shocks? Counterfactual policy analysis -- 34. Does an unexpected reduction in economic policy uncertainty impact inflation expectations?. En línea: https://link-springer-com.biblioproxy.umanizales.edu.co/referencework/10.1007/97 [...] Link: https://biblioteca.umanizales.edu.co/ils/opac_css/index.php?lvl=notice_display&i

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