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...

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...

Summary A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable...

Summary Macroeconomic policy analysis is a challenge for agent-based models because these types of model are generally much elaborated on the specific market levels for partial (micro) markets, but have been of limited use for macroeconomic policy issues due to calibration and “model...

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 – 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...