Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department, issuing body.
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| ISBN: | 1283568098
9781283568098
9781463955908
1463955901
1463969023
9781463969028
1463903421
9781463903428
9786613880543
661388054X
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| Notes: | At head of title: African Department.
Title from PDF title page (IMF Web site, viewed September 20, 2011).
"August 2011."
Available in PDF, ePUB, and Mobi formats on the Internet.
Includes bibliographical references.
English.
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| Summary: | The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis finds that the aggregate level of the private sector's markup is relatively high, thus pointing to the lack of strong competition in South Africa's product markets. Additionally, the results suggest that the markups tend to move in a countercyclical manner, with a short-term positive impact on inflation. This implies that the countercyclical pattern of the markups is one factor among others that contribute to the relatively weak output gap-inflation co-movement. In the context of South Africa's inflation targeting framework, the counter-cyclical markups may also generate an asymmetric response of monetary policy to the fluctuations in economic activity.
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| Other form: | Print version: Klein, Nir. South Africa: The Cyclical Behavior of the Markups and its Implications for Monetary Policy. Washington : International Monetary Fund, ©2011 9781463902155
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| Standard no.: | 10.5089/9781463969028.001
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