Economics - Research Publications
Permanent URI for this collection
Search Results
1 - 10 of 75
-
ItemDiscrete hours labour supply modelling: Specification, estimation and simulation(John Wiley & Sons, 2005)The assumption behind discrete hours labour supply modelling is that utility-maximising individuals choose from a relatively small number of hours levels, rather than being able to vary hours worked continuously. Such models are becoming widely used in view of their substantial advantages, compared with a continuous hours approach, when estimating and their role in tax policy microsimulation. This paper provides an introduction to the basic analytics of discrete hours labour supply modelling. Special attention is given to model specification, maximum likelihood estimation and microsimulation of tax reforms. The analysis is at each stage illustrated by the use of numerical examples. At the end, an empirical example of a hypothetical policy change to the social security system is given to illustrate the role of discrete hours microsimulation in the analysis of tax and transfer policy changes.
-
ItemWelfare‐Reducing Mergers in Differentiated Oligopolies with Free Entry(Wiley, 2010)https://doi.org/10.1111/j.1475-4932.2009.00612.x
-
Item
-
ItemPhillips Curve and the Equilibrium Unemployment Rate(Wiley, 2009-12)
-
ItemThe role of portfolio shocks in a structural vector autoregressive model of the Australian economy(BLACKWELL PUBLISHING, 2008-03-01)
-
Item
-
ItemOvercoming measurement error problems in the use of survey data on expectations(BLACKWELL PUBLISHING, 2007-09-01)
-
Item
-
ItemAn employment equation for Australia(ECONOMIC SOC OF AUSTRALIA BROWN PRIOR ANDERSON PTY LTD, 2005-09-01)
-
ItemSTOCHASTIC APPROACH TO INDEX NUMBERS FOR MULTILATERAL PRICE COMPARISONS AND THEIR STANDARD ERRORS(WILEY, 2010-06-01)The main objective of the paper is to demonstrate that a number of widely used multilateral index numbers for international comparisons of purchasing power parities (PPPs) and real incomes can be derived using the stochastic approach. The paper shows that price index numbers from commonly used methods like the Iklé, the Rao‐weighted, and an additive multilateral system are all estimators of the parameters of the country–product–dummy (CPD) model. The advantage of the stochastic approach is that we can derive standard errors for the estimates of the purchasing power parities (PPPs). The PPPs and the parameters of the stochastic model are estimated using a weighted maximum likelihood procedure under different stochastic specifications for the disturbance term. Estimates of PPPs and their standard errors for OECD countries using the proposed methods are presented. The paper also outlines a method of moments approach to the estimation of PPPs under the stochastic approach. The paper shows how the Geary–Khamis system of multilateral index numbers is a method of moments estimator of the parameters of the CPD model. The paper therefore provides a coherent stochastic framework for the Geary–Khamis system and derives standard errors of the Geary–Khamis PPPs.