摘要:

Macroeconometric models provide a formal and quantified framework that is an irreplaceable adjunct to the processes of policy thought. This article analyzes some recent developments in model structure and model use, and the interactions between them. Two major areas in which recent research has contributed to the ongoing process of model development are considered, namely the ‘supply‐side’ approach to wages and unemployment, and the modelling of the exchange rate. An improved vehicle for macroeconomic policy analysis is an objective of such developments, and some issues surrounding the use of macroeconometric models in policy analysis are dis

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01808.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This study assesses claims that shifting toward greater indirect taxes will reduce evasion, thereby improving the distribution of real net incomes and generating a ‘fiscal dividend’. Practical considerations suggest that industry sectors which evade income taxes will also be strongly inclined to evade indirect taxes on their output. A general equilibrium analysis finds that changing the tax mix will have little or none of the claimed anti–evasion or distributional effects. Increased indirect taxes on evaders' consumption purchases will be shifted onto suppliers in the compliant sector. Evaders will end up evading less income taxes but evading more indirect

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01809.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

In the centrally financed public education system of Australia, interstate differences in per student educational spending have been interpreted as measures of efficiency. An alternative explanation is that the variation reflects differences in citizen preference. An analysis of a survey of citizen opinion demonstrates that, while the relative efficiency explanation cannot be ruled out, it is likely that the variance in per student expenditures is a reflection of the preferences of the citizens of each State. It appears that States come close to satisfying the demands of their median voter.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01810.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This paper investigates the volatility of monthly Australian stock returns over the period 1875–1987. There has been extensive work on this question in the United States, but little with data outside that country. Our analysis centres upon whether the ‘stylized facts’ regarding returns in the US also hold true for Australia. We find that there are both similarities and differences. There is little evidence for asymmetry in Australian returns but strong persistence of shocks into volatility. What is particularly interesting in the Australian series is the large volatility of the last two decades, an experience not matched in the U

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01811.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

Annual fiscal incidence studies have found that income taxes and cash transfers are highly progressive and that their net effect is to redistribute income from rich to poor. Yet many argue Jhat such studies overstate the redistribution achieved by governments and that lifetime analysis is needed New results suggest that both income taxes and cash transfers are progressive on a lifetime basis, although they are much less progressive than annual studies suggest. The Australian tax‐transfer system thus generates some lifetime redistribution from rich to poor, while also enforcing intra‐personal redistribution across the life cycle of individu

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01812.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

The greater availability of survey data, a succession of papers dealing with the statistical issues arising from the analysis of such data and the appearance of software packages, such as UMDEP, have led to a remarkable increase in the application of limited dependent and qualitative variable models in economics. Economic analysis of the behaviour of individual decision makers often leads to models which are of a limited dependent or qualitative variable nature. This paper attempts to show how the use of these models naturally arises from the more general framework of modifications to traditional economic optimization problems.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01813.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

Book reviewed in this article:Contemporary Issues in Australian Economics, edited by Michael R. Johnson, Peter Kriesler and Anthony D. OwensThe Economic Dynamics of Australian Industry, edited by Clive HamiltonRisk Management in Financial Institutions, edited by Kevin Davis and Ian HarperAustralian Macroeconomic Policy in a Changing World Environment, by Victor ArgyMacroeconomics in the Global Economy, by Jeffrey Sachs and Felipe LarrainRational Expectations Macroeconomics: An Introductory Handbook, by Patrick MinfordThe Theory of Choice: A Critical Guide by Shaun Hargreaves Heap, Martin Hollis, Bruce Lyons, Robert Sugden and Albert WealeIndustrial Efficiency in Six Nations, by R. Caves and AssociatesInternational Public Finance by Ruben P. MendezThe Economic Theory of Agrarian Institutions, edited by P. Bardhan (ed.)Modelling Seasonality, edited by Svend Hylleberg

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01814.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01815.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01816.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1993.tb01817.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY