Purpose – In the past two decades, there has been a remarkable decline in inflation in both developed and developing countries, in sharp contrast to the period immediately preceding it. Interestingly, the behaviour of inflation in India broadly exhibits such a pattern. For much of the 1970s...

Purpose – The purpose of this paper is to describe the transformation of macro‐modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...

Purpose – The purpose of this paper is to compare and contrast the effectiveness of monetary policy in boosting the housing sectors in each of Egypt and South Africa, and to detect the ability of the monetary agents of both nations to tame house prices. Design/methodology/approach – An...

A simple IS‐LM model under imperfect competition and increasing returns is examined. It is shown that when firms maximize profits the values of the fiscal and monetary policy multipliers are smaller than their respective ones under perfect competition. If firms follow a cost‐plus pricing...

Purpose – The paper analyses the challenges of globalization for exchange rate and monetary policy. Design/methodology/approach – It first deals with the implications of globalization for the choice of an appropriate exchange rate regime. Then it discusses different strategic aspects of...

Purpose – The aim of this paper is to examine the proposition that the monetary reform movement has correctly identified the central importance of money‐issue whilst, simultaneously, not appreciated the sophistication of previous monetary theorists. Design/methodology/approach – The...

Purpose The purpose of this paper is to investigate the effects of monetary policy on the Islamic financial service industry by studying the findings of the existed literature. Design/methodology/approach Because of the unavailability of the empirical models in the existing study, the authors...