The paper provides empirical analysis on the linkage betweenthe behavior of bank lending and business cycles in South Africa. Consistentwith theory, overall evidence suggesting pro-cyclicality of bank lending isuncovered both at macro and micro levels. At macro level, bank lending andlending...

Purpose – This article aims to provide details of the process involved in preparing a comprehensive maintenance audit of school buildings and facilities in a state government education department.Design/methodology/approach – This paper presents the framework and logistics of the survey or...

Purpose - The purpose of this paper is to develop a conceptual framework that can be used to identify capabilities needed in the management of infrastructure assets.Design/methodology/approach - This paper utilises a qualitative approach to analyse secondary data in order to develop a conceptual...

Purpose - It has been found that stock market returns vary seasonally with the amount of daylight, and they attribute this effect to seasonal affective disorder (SAD), which is a psychological condition that causes depression and heightened risk aversion during the fall and winter months. The...

In the time domain, the observed cyclical behavior of the real wage hides a range of economic influences that give rise to cycles of differing lengths and strengths. This may serve to produce a distorted picture of wage cyclicality. Here, we deploy frequency domain methods that allow us to asses...

This paper identifies America's first Great Moderation, a period from 1841-1856 of unbroken economic expansion and low volatility comparable to the Great Moderation of the 1980s-2000s. This moderation occurred despite a lack of central banks, low governmental spending, and barriers to interstate...

We investigate the innovation rate under the impact of business cycles to understand R&D activities and to derive implications for public policies. Combining price competition and endogenous market structure with the framework of dynamic game, we study the Markov perfect equilibrium where...

The paper analyzes the dynamic properties of the neoclassical one-sector growth model with differential savings in the sense of Kaldor-Pasinetti. The economy exhibits unstable steady states and fluctuations if the income distribution varies sufficiently and if shareholders save more than...

This study attempts to determine the degree to which the state of the macroeconomy can be used to create a mutual fund investment strategy that consistently outperforms the S&P 500. By quantifying how systematic economic factors affect the relative performance of different fund strategies...

This dissertation consists of two essays in international macroeconomics. Thefirst essay shows that optimal fiscal and monetary policy is time consistent in astandard small open economy. Further, there exist many maturity structuresof public debt capable of rendering the optimal policy time...