Economics - Research Publications

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    Secondary School Fee Inflation: An Analysis of Private High Schools in Victoria, Australia
    Hirschberg, J ; Lye, J (Carfax Publishing Ltd., 2017)
    The recent growth in privately administered secondary education in many developed countries has been a widely observed phenomenon. The Australian private secondary school sector has grown faster than those in any other OECD nation, even though the average tuition fees charged by these schools have increased at double the nation’s overall rate of inflation. In this paper, we employ a panel data set to estimate a set of hedonic price indices for private secondary schools that cater to different segments of the population in order to determine if and how changes in their characteristics influence the changes in fees.
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    Inverting the indirect-The ellipse and the boomerang: Visualizing the confidence intervals of the structural coefficient from two-stage least squares
    Hirschberg, J ; Lye, J (ELSEVIER SCIENCE SA, 2017-08)
    In the just-identified model,the exact distribution of the two-stage least squares (2SLS) estimator of the coefficient of the endogenous regressor is a ratio of two normally distributed random variables. used Fieller's 1932 result to derive the density function of the estimator. In this paper, we present a novel graphical exposition of Fieller's 1954 technique to approximate the confidence interval for the 2SLS estimator. We use this approach to examine how the degree of endogeneity and instrument relevance influences the correspondence between the Fieller and traditional asymptotic confidence intervals for the estimator.
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    India's Long Road: The Search for Prosperity
    Borland, J (WILEY, 2017-12)
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    The Evolution of Tariff Protection and WageProtection in the Late Colonies and Early Federation
    Lloyd, P (WILEY, 2017-12)
    This paper examines the links between tariff protection and wage protection. These two areas of regulation were linked politically by a coalition of the Protectionist Party and the Labour Party which supported both policies together. In the regulatory systems themselves there were links through New Protection Policy and the major influence it had on the hugely important Harvester Judgment of the Court of Conciliation and Arbitration. By 1910, these developments had laid down the foundations of Australian tariff policy and labour market regulation which became among the most highly regulated markets in the non‐communist world for many decades.
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    Editors' Report 2016
    Williams, R ; Jensen, P ; McDonald, I (WILEY, 2017-06)
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    International trade and unionization: Evidence from India
    Ahsan, RN ; Ghosh, A ; Mitra, D (WILEY, 2017-05)
    Abstract We exploit exogenous variation in tariffs to examine the impact of import competition on unionization and union wages in a developing country. Using a combination of nationally representative household data (National Sample Survey Organization) and nationally representative industry‐level data (Annual Survey of Industries) from India, we find that net‐import industries that experienced larger cuts in tariffs also experienced larger declines in unionization. In addition, we find that these industries also experienced larger increases in union wages. These results are consistent with the predictions of an efficient bargaining framework that we extend to endogenize the union formation decision by allowing for a fixed cost of union formation. We also conduct a back‐of‐the‐envelope calculation to show that the total wage gains to unionized workers marginally exceed the total wage losses to deunionized workers.
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    Consumer Search in Retail Gasoline Markets
    Byrne, DP ; de Roos, N (WILEY, 2017-03)
    This paper develops direct tests for search behavior in retail gasoline markets. We exploit a unique market‐level dataset that allows us to directly measure search intensity with daily web traffic data from a gasoline price reporting website and perfectly measure daily changes in price levels and dispersion. Our simple yet powerful tests provide strong evidence of both cross‐sectional and intertemporal price search.