Abstract The notion that an independent central bank reduces a country’s inflation is a controversial hypothesis. To date, it has not been possible to satisfactorily answer this question because the complex macroeconomic structure that gives rise to the data has not been adequately...

Purpose – The purpose of this paper is to explore the relationship between China's macroeconomic performance and cyclic political events. Design/methodology/approach – The research is hypothesis‐derived and empirically driven. Findings – In China, economic growth has been largely...

As far back as 1947, Alfred Marshall proposed that the disparity in income between those individuals with moderate ability and those with greater ability is larger than the disparity in talent. Building on Marshall’s thesis, argues that marginal differences in firm capability may result not...

Purpose – The purpose of this paper is to survey literature on macroeconomic nonlinear dynamics. Design/methodology/approach – The paper identifies five influential types of models where the possible generation of endogenous cycles and chaotic motion arises. First, the frameworks that make...

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 – The purpose of this paper is to examine the effects of financial market development on corporate financing of emerging market firms to ascertain whether or not interactions in the financial market has any impact on the available choice of financing of firms....

Purpose – Traditionally, remittances have been analyzed in the context of their socioeconomic impact on the receiving communities. Consequently, little is known about the macroeconomic factors that influence their behavior. This paper aims to evaluate the importance of several macroeconomic...

Purpose – The purpose of this paper is to construct a robust macroeconomic performance (MEP) index of the State economies of an emerging market economy, i.e. India. Design/methodology/approach – Two variants of data envelopment analysis (DEA) models – radial and non‐radial – are...

Purpose – This study is motivated by the view that Democrats are concerned with reducing unemployment in the short‐run, while Republicans are concerned with keeping inflation low to promote economic stability and growth. The purpose of this paper is to ask whether the Federal Reserve...