Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy
This paper builds a simple macroeconomic model for a closed Islamic economy. The model focuses on not only determination of aggregate output and income (as in conventional macroeconomics) but also the determination of inequality in the determination of aggregate disposable income between the poor (t...
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| Format: | Article |
| Language: | English |
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International Islamic University Malaysia
1989
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| Online Access: | http://irep.iium.edu.my/34002/ http://irep.iium.edu.my/34002/1/Sayyid_Tahir_Towards_a_Theory_JIE_1989.pdf |
| _version_ | 1848780841194356736 |
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| author | Tahir, Sayyid |
| author_facet | Tahir, Sayyid |
| author_sort | Tahir, Sayyid |
| building | IIUM Repository |
| collection | Online Access |
| description | This paper builds a simple macroeconomic model for a closed Islamic economy. The model focuses on not only determination of aggregate output and income (as in conventional macroeconomics) but also the determination of inequality in the determination of aggregate disposable income between the poor (the have-nots) and the rich (the haves). Policy multipliers are also calculated. On the economic policy side, the results establish that Islamization of an otherwise non-Islamic economy through the introduction of zakah, will lead to increase in aggregate output and income but the end result may be either way for the degree of income equality. |
| first_indexed | 2025-11-14T15:40:04Z |
| format | Article |
| id | iium-34002 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T15:40:04Z |
| publishDate | 1989 |
| publisher | International Islamic University Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-340022014-01-07T09:45:50Z http://irep.iium.edu.my/34002/ Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy Tahir, Sayyid HB Economic Theory This paper builds a simple macroeconomic model for a closed Islamic economy. The model focuses on not only determination of aggregate output and income (as in conventional macroeconomics) but also the determination of inequality in the determination of aggregate disposable income between the poor (the have-nots) and the rich (the haves). Policy multipliers are also calculated. On the economic policy side, the results establish that Islamization of an otherwise non-Islamic economy through the introduction of zakah, will lead to increase in aggregate output and income but the end result may be either way for the degree of income equality. International Islamic University Malaysia 1989 Article PeerReviewed application/pdf en http://irep.iium.edu.my/34002/1/Sayyid_Tahir_Towards_a_Theory_JIE_1989.pdf Tahir, Sayyid (1989) Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy. International Journal of Economics, Management and Accounting, 2 (2). pp. 95-108. ISSN 0128-006 http://www.iium.edu.my/enmjournal/index.php/enmj/article/view/14 |
| spellingShingle | HB Economic Theory Tahir, Sayyid Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy |
| title | Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy |
| title_full | Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy |
| title_fullStr | Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy |
| title_full_unstemmed | Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy |
| title_short | Towards a theory of aggregate output, income and economic inequalities determination in an Islamic economy |
| title_sort | towards a theory of aggregate output, income and economic inequalities determination in an islamic economy |
| topic | HB Economic Theory |
| url | http://irep.iium.edu.my/34002/ http://irep.iium.edu.my/34002/ http://irep.iium.edu.my/34002/1/Sayyid_Tahir_Towards_a_Theory_JIE_1989.pdf |