Revised Estimates of Personal Sector Wealth for South Africa
AbstractIn common with many emerging market countries, South Africa`s government does not publish balance sheet wealth estimates on a market value basis, as produced in the U.S., U.K., Japan, and elsewhere. Yet without information on the market values of liquid and illiquid personal sector wealth, it is difficult to explain aggregate consumer spending and saving, consumers` demand for credit, and the broad money holdings of households. Behavioural equations for these variables are key components of central banks` macro-econometric models, used in forecasting and policy-making. Understanding the domestic asset value channel of the monetary policy transmission mechanism is especially important for inflation targeting countries.
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Bibliographic InfoPaper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number WPS/2004-24.
Date of creation: 01 Aug 2004
Date of revision:
Other versions of this item:
- Janine Aron & John Muellbauer, 2004. "Revised Estimates of Personal Sector Wealth for South Africa," Development and Comp Systems 0409070, EconWPA.
- Janine Aron & John Muellbauer, 2004. "Revised estimates of personal sector wealth for South Africa," CSAE Working Paper Series 2004-24, Centre for the Study of African Economies, University of Oxford.
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