https://journals.econsciences.com/index.php/JEL/issue/feed 2024-06-02T13:39:55+00:00 Editorial journals@econsciences.com Open Journal Systems <p>^{JEL (ISSN: 2149-2379) is published as four issues per year, March, June, September and December and all publication policies and processes are conducted according to the international standards. JEL is an international, double-blind peer-reviewed, quarterly, open-access journal published by the Journals. JEL accepts and publishes the research articles in the fields of economics, political economy, fiscal economics, applied economics, business economics, labour economics and econometrics. JEL, without depending on any institution or organisation, is a non-profit journal that has an International Editorial Board specialists on their fields. Papers which are inappropriate to its scientific purpose, scope and fields are kindly rejected. It strictly depends on the scientific principles, rules and ethical framework that are required to this qualification.}</p> https://journals.econsciences.com/index.php/JEL/article/view/2477 2024-06-02T13:32:23+00:00 Gavin OOFT contact@econsciences.com

<p>This article sheds light on the composition of the consumer price index (CPI) and the evolution of headline inflation in Suriname from 1960 to 2023. According to prior studies, high inflation has been a reoccurring phenomenon in Suriname, originating from various sources. The article provides a narrative on the development of inflation based on the available literature. The article also briefly explains the central bank’s role in maintaining price stability. The article concludes with thoughts on structurally solving the problem of reoccurring high inflation episodes in Suriname.</p> <p><strong>Keywords.</strong> Inflation, Suriname, Monetary Policy, Fiscal Policy.</p> <p><strong>JEL. </strong>E31; O11; E52; E62.</p>

2024-06-02T00:00:00+00:00 Copyright (c) 2024 https://journals.econsciences.com/index.php/JEL/article/view/2476 2024-06-02T13:29:08+00:00 John GREENWOOD contact@econsciences.com

<p>This paper compares two versions of the transmission mechanism of monetary policy: the monetarist model and the widely popular Financial Conditions Index (FCI) model. The focus is on the role of interest rates and spreads as indicators of the business cycle. In the monetarist model, following a sustained upswing or downswing in the rate of growth of money, theory and evidence point to two subsequent stages for interest rates – first the liquidity effect, followed by the Fisher effect. These two movements are in opposite directions, both being effects of prior monetary growth. The first effect is typically quite brief; the latter effect usually lasts much longer. I find that the monetarist model fits the experience since March 2020 like a glove. By contrast, the FCI model generally ignores monetary growth and constructs an index consisting of a composite of rates, spreads and other financial market indicators. This index is taken as the driver for subsequent moves in asset prices, credit market developments and their impact on the real economy. To my knowledge, the FCI model is nowhere fully articulated and is only vaguely specified in mathematical terms. Based on evidence from business cycle developments since the onset of Covid for the US, the euro-area, and the UK, the FCI results are shown to be inconsistent and sometimes contradictory.</p> <p><strong>Keywords.</strong> Monetary economics; Business cycle, Interest rates; Inflation.</p> <p><strong>JEL. </strong>E19; E32; E52; G10.</p>

2024-06-02T00:00:00+00:00 Copyright (c) 2024 https://journals.econsciences.com/index.php/JEL/article/view/2478 2024-06-02T13:33:49+00:00 EconSciences Contact contact@econsciences.com

<p>Front Matter</p>

2024-06-02T00:00:00+00:00 Copyright (c) 2024