Summary In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange...

Abstract This paper provides an analysis of the funding structure of the railways in eight European countries. It updates and expands the well-known database on public contributions to rail, which has initially been published by [NERA (2004) Study of the Financing of and Public Budget...

Purpose This paper aims to review the auditing procedures and structure in an emerging economy's public sector by explaining the recent changes and developments in the auditing process, its structure and the responsibilities of its underlying actors. Design/methodology/approach This paper traces...

Purpose This paper aims to propose a new pricing alternative called Rental Rate Index (RR-I) that captures the true value of property to be used by Islamic banks in Musharakah Mutanaqisah (MM) contract for home financing. Design/methodology/approach By formulating a profit rate based on Rental...

Purpose – This paper aims to investigate the relationships between several macro‐economic indicators and real estate investment in China. Design/methodology/approach – This study proposes the “investment preference theory” to explain that bank deposits, stock investment and real estate...

Purpose This paper aims to empirically examine the relationship between macroeconomic factors and housing prices in Malaysia from 1991 to 2016. Design/methodology/approach This study was based on annual macroeconomic data from 1991 to 2016. For the model that was constructed, house prices were...

Purpose This paper aims to study the structural dynamic behaviour of the depositors, banks and investors and the role of banks in the business cycles. The authors test the hypothesis: do banks’ behaviour make oscillations in the economy via interest rate? Design/methodology/approach The...

Purpose – The purpose of this paper is to show that the microfinance industry practices can benefit from the culture and spiritual traditions of a country. Design/methodology/approach – The authors use the Bhagavad Gita and the codes of Manu and Kautilya to describe the background of Hindu...

Purpose – Computing the duration of real estate assets is a challenging task due to the particularities of the property market. This paper aims to develop an empirical model to compute the interest‐rate sensitivity of direct real estate assets in the Swiss multifamily housing market....