The study examines the relationships between inflation uncertainty and output growth uncertainty, and analyzes their effects on the level of inflation and output growth in South Africa. An asymmetric multivariate GARCH-M model suggested by Grier et al. (2004) is applied. The findings suggest that while uncertainty about growth is detrimental to output growth inflation uncertainty is not. The findings further reveal that Cukierman and Meltzer (1986) hypothesis of a positive impact of inflation uncertainty on the level of inflation is supported and there exists a negative impact of output growth uncertainty on inflation. No association could be found between inflation uncertainty and output growth uncertainty. The findings imply that output growth and its uncertainty should not be treated separately as it is usually suggested by business cycle models. In addition, both output growth uncertainty and inflation uncertainty should be considered as part of the determinants of output growth in South Africa.
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Nice T-shirt to be worn for 2010 South Africa FIFA World Cup - Fabric content: high quality soft polyester material - Keeps the body cool dry and comfortable by drawing perspiration away from the skin - Great gift idea for football team fans - Size XXL: 75cm*58cm
Vladimir Lenin created this hugely significant Marxist text to explain fully the inevitable flaws and destructive power of Capitalism: that it would lead unavoidably to imperialism, monopolies and colonialism. He prophesied that those third world countries used merely as capitalist labour would have no choice but to join the Communist revolution in Russia. GREAT IDEAS. Throughout history, some books have changed the world. They have transformed the way we see ourselves - and each other. They have inspired debate, dissent, war and revolution. They have enlightened, outraged, provoked and comforted. They have enriched lives - and destroyed them. Now Penguin brings you the works of the great thinkers, pioneers, radicals and visionaries whose ideas shook civilization and helped make us who we are.
A compelling history of science from 1900 to the present day, this is the first book to survey modern developments in science during a century of unprecedented change, conflict and uncertainty. The scope is global. Science's claim to access universal truths about the natural world made it an irresistible resource for industrial empires, ideological programs, and environmental campaigners during this period. Science has been at the heart of twentieth century history – from Einstein's new physics to the Manhattan Project, from eugenics to the Human Genome Project, or from the wonders of penicillin to the promises of biotechnology. For some science would only thrive if autonomous and kept separate from the political world, while for others science was the best guide to a planned and better future. Science was both a routine, if essential, part of an orderly society, and the disruptive source of bewildering transformation. Jon Agar draws on a wave of recent scholarship that explores science from interdisciplinary perspectives to offer a readable synthesis that will be ideal for anyone curious about the profound place of science in the modern world.
Nelson Mandela was born in a remote African village but went on to become the most influential African leader in history. This Macmillan Reader charts Mandela's journey from childhood to ANC activist. It goes on to describe his release after 27 years' imprisonment by the South African government, his role in ending Apartheid and his eventual inauguration as the first black President of South Africa.
This map appears in the map series world mapping project ™ in travel expertise. Characteristic is the high-quality, clear and modern cartographic representation. Contour lines with elevation Coloured elevation levels Classified road network with distances Places of interest Detailed local index