Browsing by Author "Mama, Albert Touna"

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    Essays on monetary policy, institutions and terms of trade shocks in emerging market economies
    (2012) Hove, Seedwell; Mama, Albert Touna; Tchana, Fulbert Tchana
    This thesis focuses on two important features of emerging market economies: institutional weaknesses and the exposure to commodity terms of trade shocks and how they shape the macroeconomic dynamics and the conduct of monetary policy. These issues are discussed in three essays. The first essay empirically evaluates the role of institutional structures in inflation targeting in emerging market economies (EMEs). The second essay theoretically investigates the appropriate monetary policy responses to commodity terms of trade shocks using a multi-sector New Keynesian dynamic stochastic general equilibrium (DSGE) model. Finally, the third essay empirically analyses the responses of different monetary policy regimes to commodity terms of trade shocks in emerging market economies.
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    Fiscal policy and the current account evidence from South Africa
    (2012) Searle, Peter; Mama, Albert Touna; Kotzé, Kevin
    This paper investigates the link between fiscal policy and the current account in post-apartheid South Africa using Bayesian-Vector Autoregressions (BVARs). Consistent with the predictions of the twin deficit hypothesis, the analysis reports a strong positive relationship between the government budget balance and the current account.