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South Africa’s real business cycles: The Cycle is the trend

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  • Hilary Patroba
  • Leroi Raputsoane

Abstract

This paper tests the ‘cycle is the trend’ hypothesis. We investigate how far permanent and transitory productivity shocks can account for the dynamics observed in the South African business cycle over the period 1946{2014. By estimating a standard small open economy real business cycle model and its financial frictions augmented counterpart, we show that permanent productivity shocks are more […]

Suggested Citation

  • Hilary Patroba & Leroi Raputsoane, 2016. "South Africa’s real business cycles: The Cycle is the trend," Working Papers 619, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:619
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    More about this item

    Keywords

    Bayesian analysis; business analysis; Emerging economies; Firms and Development;
    All these keywords.

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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