The purpose of this paper is to study the direction of causality between the stock market and macroeconomic variables. India is taken as a case study. Although, there have been many studies which attempted to find out the relationship between Indian stock market and economic variables, this...

This paper seeks to close the gap of the lack of empirical evidence surrounding the different impact of conventional interest rates on Islamic finance components – Islamic stock markets, Islamic banking and Islamic insurance (called takaful). Such evidence remains imperative in order for the...

Lujo Brentano (1844-1931) hat sich als "realistischen" Ökonomen verstanden. Im Bereich der Arbeitsmarkttheorie sind zwei Bereiche von besonderem Interesse: Seine Untersuchungen über den Zusammenhang zwischen Lohn, Arbeitszeit und Arbeitsleistung und seine Überlegungen zur Bildung von...

Aus neoklassischer Sicht bestimmen sich Löhne und Zinsen (und damit die funktionelle Einkommensverteilung) so, daß eine richtige Wahl der Pruktionsverfahren induziert wird. In neokeynesianischer Sicht bilden sich Löhne und Zinsen (und damit die funktionelle Einkommensverteilung) so, daß der...

As far as the author’s knowledge, the paper is the first attempt dedicated to understanding the risk and volatility of constituents of the young and rapidly growing Islamic mutual funds’ industry. The novelty of our approach lies in the usage of wavelet tools to high-frequency financial...

The purpose of this paper is to test the growing converging views regarding the destabilizing and growthhalting impact of interest-based debt financial system. The views are as advocated by the followers of Keynes and Hyman Minsky and those of Islam. Islam discourages interest rate based debt...

Since its debut into the islamic capital markets landscape in 2005, islamic Real Estate Investment Trusts (REITs) have not shown significant progress in attracting foreign investment, limiting their potential as the ideal asset class for the Shariah compliant investor. It was suggested that a...