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Journal Article
What sustains informality?: A study of interactions between formal and informal sector firms

Part of Journal Special Issue What sustains informality

Informal sector Income distribution Supply and demand
Working Paper
The macroeconomic effect of fiscal policy in South Africa: A narrative analysis

This paper analyses the macroeconomic effect of legislated personal income tax changes in South Africa over the 1996–2019 period...

Personal income tax Structural VAR Instrumental variable
Technical Note
Total factor productivity in South African manufacturing firms 2010–17: CIT-IRP5 panel v4.0

We update Kreuser and Newman’s (2018) total factor productivity estimates for the South African manufacturing sector using administrative data from 2009–17. We use standard implementations of the Ackerberg et al...

Total factor productivity Administrative data Manufacturing firms
Working Paper
Informal employment or informal firms? Regulatory enforcement and the transformation of the informal sector

While there is general agreement that regulatory avoidance is an important part of firms’ decisions to produce in the informal sector, there is much less agreement on how regulation and enforcement affect firms’ decisions on, inter alia, ...

Informal sector Regulation Spillovers
Working Paper
What sustains informality?: A study of the interactions between formal- and informal-sector firms

We consider two vertical links between informal- and formal-sector firms and study their implications...

Informal sector Income distribution Supply and demand
Working Paper
Structural estimates of the South African sacrifice ratio

This paper estimates the output cost of fighting inflation—the sacrifice ratio—for the South African economy using quarterly data spanning the period 1998Q1–2019Q3...

Monetary policy Inflation targeting Output
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