An important puzzle in international macroeconomics is the exchange rate disconnect puzzle. Based on recent empirical literature by Mussa (1986), Baxter and Stockman (1989), and Flood and Rose (1995), high exchange rate volatility under floating rates appear not to be related to the high...

The Australian Trade Deficit (TD) has been increasing in the past 50 years, and this deficit has become more significant in the last few decades. This rising TD level in Australia has brought the national debt level to a new height, making this country one of the world?s highest debt-ridden...

With the rapid development of the global economy, intellectual capital has become a critical driver of a business's sustainability. The essential difference between companies operating in the 'old' and the 'new' economy is that, where value in the past was created within industrial sectors such...

My differences with the standard neoclassical model of the economy are legion and have literally filled a book. Debunking Economics (Keen, 2001) focused on the flaws in the micro side of neoclassical economics, because that is the wellspring from which all neoclassical economic fallacies...

The study of financial stability has become the cornerstone of modern macroeconomic policy particularly for developed countries. The recent global financial crisis has underscored the importance of understanding financial instability especially in the context of managing credit risk with...

The proposition that the Global Financial Crisis was inherently unpredictable is a recurrent theme amongst those charged with preventing such events. It is also a convenient untruth. A Netherlands academic did a rather better survey of the literature than Governor Stevens, to identify 12...

In this paper we investigate how Financial Soundness Indicators (FSI) responds to changing macroeconomic and institutional conditions. FSls are aggregate measures of the current financial health and soundness of financial institutions in a country including corporate and household...

The concept of ?financialisation? has informed recent analyses of the contemporary dynamics of monopoly capitalism. In the wake of the global financial crisis in 2007-08, the strategic role of finance and its capacity to destabilise the real economy and push it to the brink of economic...

Trust is frequently a requirement for economic exchanges and the management of natural resources. Providing public informaiton on past actions can promote trust through the formation of reputations. We developed an economic experiment to test whether a formal reputation mechanism could...