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The Use Of A Marshallian Macroeconomic Model For Policy Evaluation: Case Of South Africa

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Author Info

  • Jacques Kibambe

    ()
    (Department of Economics, University of Pretoria)

  • Arnold Zellner

    ()
    (Booth School of Business, University of Chicago)

Abstract

Using a disaggregated Marshallian Macroeconomic Model (MMM-DA), this paper investigates how the adoption of a set of 'free market reforms' may affect the economic growth rate of South Africa. Accounting for possible side effects mainly on the budget deficit, our findings suggest that the institution of the proposed policy reforms would yield a substantial growth in the aggregate annual real GDP. The resulting GDP growth rate could range from 5.3 percent to 9.8 percent depending on which variant of the reform policies is implemented.

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Bibliographic Info

Paper provided by University of Pretoria, Department of Economics in its series Working Papers with number 201013.

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Length: 39 pages
Date of creation: Jun 2010
Date of revision:
Handle: RePEc:pre:wpaper:201013

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Keywords: Marshallian Macroeconometric Model; Disaggregation; Transfer functions;

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  1. Zellner, Arnold & Tobias, Justin, 2004. "A Note on Aggregation, Disaggregation and Forecasting Performance," Staff General Research Papers 12371, Iowa State University, Department of Economics.
  2. Zellner,Arnold & Palm,Franz C. (ed.), 2004. "The Structural Econometric Time Series Analysis Approach," Cambridge Books, Cambridge University Press, number 9780521814072, April.
  3. Veloce, William & Zellner, Arnold, 1985. "Entry and empirical demand and supply analysis for competitive industries," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 459-471.
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Cited by:
  1. Jacques K Ngoie & Arnold Zellner, 2012. "Evaluation of the Effects of Reduced Personal and Corporate Tax Rates on the Growth Rates of the U.S. Economy," Working Papers 280, Economic Research Southern Africa.

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