Economics - Research Publications
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ItemWhat is a Single Market? An Application to the Case of ASEAN(Institute of Southeast Asian Studies, 2007)
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ItemThe Commodity Coverage of PTAs: does agriculture matter?(Edward Elgar Publishing, 2007)
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ItemWelfare-Based and Trade-based Indicators of National Distortions(Palgrave Macmillan, 2009)
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ItemReview of International Experience: ex Post Studies of Other PTAs and Implications for PTA Design(Edward Elgar Publishing, 2009-01-01)
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ItemWelfare‐Reducing Mergers in Differentiated Oligopolies with Free Entry(Wiley, 2010)https://doi.org/10.1111/j.1475-4932.2009.00612.x
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ItemPhillips Curve and the Equilibrium Unemployment Rate*(Wiley, 2009-12)A time‐varying Phillips Curve was estimated as a means to examine the changing nature of the relationship between wage inflation and the unemployment rate in Australia. The implied time‐varying equilibrium unemployment rate was generated and the analysis showed the important role played by variations in the slope of the Phillips Curve in changing the equilibrium unemployment rate. The deviations of actual unemployment rates from the estimated equilibrium unemployment rates also performed remarkably well as measures of inflationary pressure.
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ItemThe role of portfolio shocks in a structural vector autoregressive model of the Australian economy(BLACKWELL PUBLISHING, 2008-03-01)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.
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ItemOvercoming measurement error problems in the use of survey data on expectations(BLACKWELL PUBLISHING, 2007-09-01)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.
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