The article revisits the IS-LM macroeconomic model by incorporating speculation into the investment function. The discussion is supported empirically by using data from the G7 countries to examine the different interest rate regimes in the pre- and post-2008 financial crisis. The estimation of...

This paper uses the dynamic conditional correlation model and the data from eleven economies are used to examine the inter-temporal interactions between stock return differential relative to the US and real exchange rate in the two financial crises of 1997 and 2008. The theoretical model...

Monetization has been argued as the fifth feature in China's economic reform in addition to privatization, marketization, liberalization and pragmatization. If monetization is taken to mean a process through which variations in money supply or interest rate are to affect macroeconomic variables,...

In addition to privatization, marketization, liberalization and pragmatization, monetization has been argued as the fifth feature in China's economic reform. If monetization is taken to mean a process through which variations in money supply or interest rate are to affect macroeconomic...

This article distinguishes openness from domestic performance as different growth determinants and uses nonparametric estimation to reveal their direct effects on GDP. On average, openness promotes growth, but its effect on growth is negative when the levels of openness and domestic performance...