Economics - Research Publications

Permanent URI for this collection

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

Filters

2013 - 2020 3
Reset filters

Settings
Statistics
Citations
Author: Lye, Jeanette × Author: Hirschberg, Joseph × Type: Working Paper ×

Search Results

Now showing 1 - 3 of 3
  • Item
    Thumbnail Image
    Gambling with Stimulus Payments: Feeding Gaming Machines with Federal Dollars
    Hirschberg, JG ; Lye, JN (Department of Economics, The University of Melbourne, 2013)
    In late 2008 and early 2009 the Australian Federal Government introduced a series of economic stimulus packages designed to maintain consumer spending in the early days of the Great Recession. When these packages were initiated the media suggested that the wide-spread availability of electronic gaming machines (EGMs, eg. slot machines, poker machines, video lottery terminals) in Australia would result in stimulating the EGMs. Using state level monthly data we estimate the degree to which the stimulus payments influenced EGM expenditure and the implications for state and territory gaming tax revenues.
  • Item
    Thumbnail Image
    Investment in Australian Aboriginal Art
    Lye, JN ; Hirschberg, JG (Elsevier BV, 2020)
    Recent changes in Australian legislation that limit the value of how artworks that can be considered as assets in retirement funds have had an impact on the Australian Aboriginal Art market. In this paper we estimate the impact of these changes on the price index based on prices paid for 15,845 works by over 200 artists at art auctions from 1986 to 2019. Using an OLS and a quantile regression approach, we estimate hedonic price models for various segments of the Australian Aboriginal art market. These models are used to estimate price indices in order to investigate if the changes in Australian laws concerning the sale and use of art assets has influenced the potential returns for different segments of the market.
  • Item
    Thumbnail Image
    Confidence Intervals for Ratios: Econometric Examples with Stata
    Lye, JN ; Hirschberg, JG (Elsevier BV, 2018)
    Ratios of parameter estimates are often used in econometric applications. However, the test of these ratios when estimated can cause difficulties since the ratio of asymptotically normally distributed random variables have a Cauchy distribution for which there are no finite moments. This paper presents a method for the estimation of confidence intervals based on the Fieller approach that has been shown to be preferable to the usual Delta method. Using example applications in both Stata and R, we demonstrate that a few extra steps in the examination of the estimate of the ratio may provide a confidence interval with superior coverage.