Template-Type: ReDIF-Paper 1.0
Author-Name: by Ed Cornforth
Author-Name: Urvish Patel
Author-Name: Xolani Sibande
Author-Name: Kgotso Morema
Author-Name: Konstantin Makrelov
Author-Name: Ian Hurst
Title: The South African NiGEM expansion
Abstract: This paper presents a new macroeconometric model for South Africa that forms part of the global system of models based on the National Institute Global Econometric Model (NiGEM). NiGEM is used by many central banks as well as the Organisation for Economic Co-operation and Development. The NiGEM-SA model, which provides a more detailed representation of South Africas financial sector, is a new tool in the South African Reserve Banks (SARBs) suite of models. It will complement the SARBs other models and help with understanding the impact of global economic shocks and the cyclical impacts of climate-related shocks. This paper presents key features of NiGEM-SA and illustrates its properties through a series of simulations. The simulation results indicate that model responses are in line with estimates in the empirical literature.
Creation-Date: 2025-06-23
File-URL: https://www.resbank.co.za/content/dam/sarb/publications/working-papers/2025/the-south-african-nigem-expansion.pdf
File-Format: application/pdf
File-Function: Revision
Number: 11081
Handle: RePEc:rbz:wpaper:11081