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Does household net financial wealth explain the asymmetric reaction of household consumption to monetary policy shocks in South Africa?

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  • Eliphas Ndou

Abstract

Ndou et al (2019) showed that, in absolute terms, the decline in household consumption due to the monetary policy tightening shocks exceeds the increase in household consumption, following the monetary policy loosening shocks of the same magnitude. This paper applies a counterfactual vector autoregression (VAR) approach to determine whether the household net financial wealth explains […]

Suggested Citation

  • Eliphas Ndou, 2020. "Does household net financial wealth explain the asymmetric reaction of household consumption to monetary policy shocks in South Africa?," Working Papers 834, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:834
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    More about this item

    Keywords

    climate change; Healthcare; Monetary Policy; Social Programmes; Social welfare;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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