The relative impacts of the monetised and non-monetised deficit on output and inflation in the United States are assessed using annual data for the 1923-1982 period. With Federal Reserve purchases of government debt serving as a measure of monetisation, the results of Granger causality tests...

The relative impacts of the monetised and non‐monetised deficit on output and inflation in the United States are assessed using annual data for the 1923‐1982 period. With Federal Reserve purchases of government debt serving as a measure of monetisation, the results of Granger causality tests...

Purpose – This paper aims at developing a theoretical model of a world economy characterized by tax evasion. It seeks to analyze whether financial repression can be explained by tax evasion. Design/methodology/approach – The analysis is performed in overlapping generations dynamic general...

Purpose – This paper seeks to assess the impact of monetary policy on house price inflation for the nine census divisions of the US economy. Design/methodology/approach – A factor-augmented VAR (FAVAR) model is estimated using a large data set comprising of 126 quarterly series over the...

Purpose – This paper aims to develops an estimable hybrid model that combines the micro-founded DSGE model with the flexibility of the atheoretical VAR model. Design/methodology/approach – The model is estimated via the maximum likelihood technique based on quarterly data on real gross...

Purpose – This paper aims at developing a theoretical model of a world economy characterized by tax evasion. It seeks to analyze whether financial repression can be explained by tax evasion. Design/methodology/approach – The analysis is performed in overlapping generations dynamic general...

Purpose – This paper aims to develops an estimable hybrid model that combines the micro‐founded DSGE model with the flexibility of the atheoretical VAR model. Design/methodology/approach – The model is estimated via the maximum likelihood technique based on quarterly data on real gross...

Purpose – This paper seeks to assess the impact of monetary policy on house price inflation for the nine census divisions of the US economy. Design/methodology/approach – A factor‐augmented VAR (FAVAR) model is estimated using a large data set comprising of 126 quarterly series over the...

Purpose The purpose of this paper is to investigate whether there exist multiple bubbles in the Brazil, Russia, India, China and South Africa (BRICS) stock markets. Design/methodology/approach In this study, the authors apply the generalized sup Augmented Dickey-Fuller test, a new recursive test...

Purpose The purpose of this paper is to study the evolution of monetary policy uncertainty and its impact on the South African economy. Design/methodology/approach The authors use a sign restricted SVAR with an endogenous feedback of stochastic volatility to evaluate the sign and size of...