Economics - Research Publications

Permanent URI for this collection

http://hdl.handle.net/11343/417

Filters

2007 - 2008 26
Reset filters

Settings
Statistics
Citations
End date: 2008 × Start date: 2007 × Subject: Applied Economics ×

Search Results

Now showing 1 - 10 of 26
  • Item
    Thumbnail Image
    What is a Single Market? An Application to the Case of ASEAN
    LLOYD, P. (Institute of Southeast Asian Studies, 2007)
  • Item
    Thumbnail Image
    The Commodity Coverage of PTAs: does agriculture matter?
    MACLAREN, D. (Edward Elgar Publishing, 2007)
  • Item
    Thumbnail Image
    The role of portfolio shocks in a structural vector autoregressive model of the Australian economy
    Fry, R ; Hocking, J ; Martin, VL (BLACKWELL PUBLISHING, 2008-03)
    Domestic and foreign equity shocks on the Australian economy are analysed within a five‐variate structural vector autoregressive model, with identification achieved through long‐run restrictions based on the natural rate hypothesis, monetary neutrality, long‐run portfolio balance and purchasing power parity. The results show that real equity values were undervalued by 19 per cent by June 2005, with the gap narrowing thereafter. Foreign crises are important factors explaining this deterioration. The real wealth effects of equity market shocks impact significantly upon financial and goods market prices, whereas output tends to be immune. The model is also able to address puzzles that exist in the vector autoregression literature.
  • Item
  • Item
    Thumbnail Image
    Overcoming measurement error problems in the use of survey data on expectations
    Lee, K ; Shields, K (BLACKWELL PUBLISHING, 2007-09)
    Survey data frequently requires conversion from qualitative responses to quantitative series and it is often asserted that the conversion procedures introduce measurement errors that render the series unusable in structural modelling. We investigate the nature and treatment of the measurement error that arises when conversion procedures are used to obtain direct measures of expectations. We use simulation experiments to demonstrate the need for the adequate treatment of conversion errors and show that a procedure proposed to ‘purge’ the series of conversion error is extremely successful in circumventing the problems. We illustrate the procedures in empirical applications using business survey data.
  • Item
    Thumbnail Image
    MARKET MAKING OLIGOPOLY*
    LOERTSCHER, S (Wiley, 2008-06)
    This paper analyzes price competition between market makers who set costly capacity constraints before they intermediate between producers and consumers. The unique equilibrium outcome with pure strategies at the capacity stage is the Cournot outcome. The paper thus provides a rationale for Cournot‐type competition between market makers. This contrasts with previous findings in the literature, where due to the absence of capacity constraints that are set ex ante the Bertrand result typically obtains.
  • Item
    Thumbnail Image
    Unravelling financial market linkages during crises
    Dungey, M ; Martin, VL (JOHN WILEY & SONS LTD, 2007-01-01)
  • Item
  • Item
    Thumbnail Image
    Global influences on UK manufacturing prices: 1970-2000
    Coutts, K ; Norman, NR (ELSEVIER SCIENCE BV, 2007-07)
  • Item
    Thumbnail Image
    Deregulation as (welfare reducing) trade reform: The case of the Australian wheat board
    McCorriston, S ; MacLaren, D (Wiley, 2007-08-01)
    State trading enterprises are distinguishable from private, commercial firms by the nature of their exclusive rights and objectives. Deregulation of the Australian Wheat Board is used to illustrate the effects of these rights and objectives on trade and welfare. Theoretical models are specified and the effects measured through calibrated, partial equilibrium models. It was found that the successive deregulations of the Australian Wheat Board caused it to switch from being equivalent to an export subsidy to, today, being equivalent to an export tax. At the same time, deregulation has not necessarily been welfare enhancing.