If a central bank attempts to get unemployment below the NAIRU rate, the result will be more inflation but only a small and temporary increase in the number of jobs. Page 7 of 12  What, then, is the NAIRU rate in South Africa? It is difficult to estimate, in part because the relevant data are incomplete.
I deeply appreciate and thank the Governor of the Bank of Mauritius and Honorary Professor Rundheersingh Bheenick for presenting me for the conferment. This event is of special significance because the University commands immense prestige and has collaborations with several globally renowned academic institutions across the continents. The well known Indian Institute of Technology, Kanpur, India, is an example.