Economics - Research Publications
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ItemProviding intuition to the Fieller Methodwith two geometric representationsusing STATA and Eviews( 2007-04)The Fieller Method for the construction of confidence intervals for ratios of the expectedvalue of two normally distributed random variables has been shown by a number of authorsto be a superior method to the delta approximation. However, it is not widely used due inpart, to the tendency to present the intervals only in a formula context. In addition, potentialusers have been deterred by the potential difficulty in interpreting non-finite confidenceintervals when the confidence level is less than 100%. In this paper we present two graphicalmethods which can be easily constructed using two widely used statistical software packages(Eviews and Stata) for the representation of the Fieller intervals. An application is presentedto assess the results of a model of the non-accelerating inflation rate of unemployment(NAIRU).
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ItemInferences for the extremum of quadratic regression models(Department of Economics, The University of Melbourne, 2004)
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ItemAlternative forms for restricted regressions( 2005-11)The estimation of regression models subject to linear restrictions, is a widely appliedtechnique, however, aside from simple examples, the equivalence between the linear restrictedcase to the reparameterization or substitution case is rarely employed. We believe this is due tothe lack of a general transformation method for changing from the definition of restrictions interms of the unrestricted parameters to the equivalent reparameterized model and conversely,from the reparameterized model to the equivalent linear restrictions for the unrestricted model.In many cases the reparameterization method is computationally more efficient especially whenestimation involves an iterative method. But the linear restriction case allows a simple methodfor adding and removal of restrictions.In this paper we derive a general relationship that allows the conversion between the twoforms of the restricted models. Examples involving systems of demand equations, polynomiallagged equations, and splines are given in which the transformation from one form to the otherare demonstrated as well as the combination of both forms of restrictions. In addition, wedemonstrate how an alternative Wald test of the restrictions can be constructed using anaugmented version of the reparameterized model.
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ItemInteractions in regressions(Department of Economics, The University of Melbourne, 2005)
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ItemSystematic influences on teaching evaluations: The case for caution(WILEY, 2007-03)In this paper, we examine eight years of Quality of Teaching (QOT) responses from an Economics Department in an Australian University. This is done to determine what factors, besides the instructor, have an impact on the raw average student evaluation scores. Most of the previous research on student ratings has been conducted in the US. One significant difference between US and Australian tertiary education is that, on average, the number of foreign undergraduate students in Australia is ten times the number in US institutions. We find that cultural background significantly affects student evaluations. Other factors that have an influence on the average QOT score include: year level; enrolment size; the quantitative nature of the subject; the gender of the student; fee‐paying status by gender; course of study; the differences between the course mark and previous marks; the quality of workbooks; the quality of textbooks; and the QOT score relative to those in other subjects taught at the same time. In addition, average QOT scores for instructors who have taught in a mix of subjects are similar to those based on scores adjusted to account for subject and student characteristics.
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ItemALCOHOL CONSUMPTION AND HUMAN CAPITAL: A RETROSPECTIVE STUDY OF THE LITERATURE(WILEY, 2010-04)Abstract Grossman proposed an individual's health can be viewed as one aspect of their human capital. Following this line of thought a number of recent papers have reported a positive impact of alcohol consumption on earnings. The rationale for the existence of such a relationship is the positive impact of alcohol on physical and mental health. We conduct a meta‐analysis to determine whether such factors as: the estimation technique, the presence of ex‐drinkers in the sample, possible sample selection bias and publication bias may all contribute to these findings. An additional suggestion for the positive relationship between alcohol and wages is the presence of a common set of personality traits that determines drinking behaviour and also leads to higher earnings. We examine this relationship by reviewing the literature that investigates if the personality influencing aspects of alcohol consumption influences measures of human capital. We also survey the significant body of research that has examined how alcohol consumption has been found to influence educational outcomes and the work force participation of problem drinkers.
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ItemInferential methods for elasticity estimates(ELSEVIER SCIENCE SA, 2008-12)