Topical Collection "The Future of Economics and Finance"

A topical collection in Journal of Risk and Financial Management (ISSN 1911-8074). This collection belongs to the section "Economics and Finance".

Editors

Prof. Dr. Michael McAleer
E-Mail Website
Collection Editor
Department of Finance, College of Management, Asia University, Taichung 41354, Taiwan
Interests: economics; financial econometrics; quantitative finance; risk and financial management; econometrics; statistics; time series analysis; energy economics and finance; sustainability; environmental modelling; carbon emissions; climate change econometrics; forecasting; informatics; data mining
Special Issues, Collections and Topics in MDPI journals
Prof. Dr. Shawkat Hammoudeh
grade E-Mail Website
Collection Editor
LeBow College of Business, Drexel University, 3141 Chestnut Street, Philadelphia, PA 19104, USA
Interests: energy finance; environmental economics; financial economics
Special Issues, Collections and Topics in MDPI journals
Prof. Dr. Siri A. Terjesen
E-Mail Website
Collection Editor
College of Business, Florida Atlantic University, Boca Raton, FL 33431, USA
Interests: corporate governance; entrepreneurship; strategic management

Topical Collection Information

Dear Colleagues,

The 1st JRFM Webinar covers many hot topics associated with "The Future of Economics and Finance". This Topical Collection will collect high-quality papers (original research articles or comprehensive review papers) related to the topic.

Potential topics include, but are not limited to:

  • Economics and Finance
  • Business and Entrepreneurship
  • Energy and Environment: Economics, Finance and Policy
  • The effects of the COVID-19 pandemic on any of the issues raised above

Prof. Dr. Michael McAleer
Prof. Dr. Shawkat Hammoudeh
Prof. Dr. Siri A. Terjesen
Prof. Dr. Thanasis Stengos
Collection Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the collection website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1200 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Published Papers (1 paper)

2021

Article
Constructing Divisia Monetary Aggregates for Singapore
J. Risk Financial Manag. 2021, 14(8), 370; https://doi.org/10.3390/jrfm14080370 - 12 Aug 2021
Viewed by 949
Abstract
Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been developed and extended into a field of its own with solid foundations in microeconomic theory. Divisia monetary aggregates have repeatedly been shown to be strictly [...] Read more.
Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been developed and extended into a field of its own with solid foundations in microeconomic theory. Divisia monetary aggregates have repeatedly been shown to be strictly preferable to their simple sum counterparts, which have no competent foundations in microeconomic aggregation or index number theory. However, most central banks in the world, including that of Singapore, the Monetary Authority of Singapore (MAS), still report their monetary aggregates as simple summations. Recent macroeconomic research about Singapore tends to focus on exchange rates as a monetary policy target but ignores the aggregate quantity of money. Is that because quantities of money are irrelevant to economic activity? To examine the role of monetary quantities as potential monetary instruments, indicators, or targets and their relevance to predicting real economic activity in Singapore, this paper applies the user cost of money formula and the recently developed credit-card-augmented Divisia monetary aggregates formula to construct monetary services indexes for Singapore. We produce those state-of-the-art monetary services indexes from Jan 1991 to Mar 2021. We see that Divisia measures behave differently from simple sum measures in the period before the year 2000, while interest rates were high. Credit-card-augmented Divisia monetary services move closely with the conventional Divisia monetary aggregates, since the volume of credit card transactions in Singapore is relatively small compared with other monetary service assets. In future work, we plan to use our data to explore central bank policy in Singapore and to propose improvements in that policy. By making our data available to the public, we encourage others to do the same. Full article
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