The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition - either tax- or spending-based - are uncertain. We find that the composition of the fiscal consolidation, its duration, the monetary policy stance, the level of government debt, and...

This paper examines the existence and stability of both the long‐ and short‐run demand for narrow and broad money balances. The data for Singapore are used as a case study. The quarterly period examined is 1973:2‐1999:3 (105 observations). The study reveals the existence of a systematic...

Purpose – This paper aims to counter the view that Marshall was an opponent of the historical school. This false account has survived and prospered because it has fitted into more general conceptions of intellectual history, held by both orthodox and heterodox economists....

Purpose – The paper aims to provide an overview of the Austrian School's approaches to the social question before World War I. Design/methodology/approach – The paper takes the form of a comparative study. Findings – In his contributions Friedrich von Wieser supported co‐operative...

Purpose – The paper seeks to estimate agricultural commodity supply response at three levels of aggregation namely, all commodities, food commodities and exports commodities. Design/methodology/approach – The study used cointegration and error correction modelling techniques with the aid of...

Purpose – The purpose of this paper is two‐fold. First, it studies whether output volatility and growth are linked at the firm‐level, using data for German firms. Second, it explores whether the link between volatility and growth depends on the degree of credit market imperfections....

Purpose – The purpose of this paper is to test for and model non‐linearities in option price deviations from the Black Scholes (BS) model in FTSE 100 index options over the time period 1997‐2006. Design/methodology/approach – The economic specification and estimation methodology is...

Purpose – The intent of this paper is to discover whether practical examples of new forms of business enterprise are to be found in the real world and what the peculiarities of any such experiments are. Design/methodology/approach – The research conducted is of an eminently explorative...