摘要:

We investigate whether housing activity is a leading indicator of general activity using two dynamic systems. In the national account system, the results indicate that dwelling investment contains leading information for gross national expenditure. In a five‐variable system including a measure of economic activity, housing activity, money, prices and a short‐term interest rate, housing activity is found to provide an important linkage between economic activity and the rest of the system. These results consistently affirm that housing activity is a leading indicator of general economic activ

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01844.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper presents a case study of the regulation and subsequent deregulation of the bulk liquid petroleum gas industry in Queensland. During the period of the regulated franchise system, prices paid by bulk LPG customers in south‐east Queensland were higher than those paid by customers in northern NSW (where no similar regulations existed) despite both sets of customers being supplied from the same source. In response to higher prices, some customers attempted to circumvent the regulations by utilizing inefficient configurations of gas cylinders as a substitute for bulk supply. Following deregulation, bulk LPG prices fell in previously franchised areas of south‐east Queensl

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01845.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper examines the argument that Professor Blinder presented to the Bicentennial Australian Conference of Economists, that the Phillips curve is ‘alive and well’. It is argued below that Blinder's conclusion is, at best, unproven. It also highlights The Keynesian Recovery, outlined by Howitt and others, which has not resurrected the trade‐off interpretation of Phillips's

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01846.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper presents a simple model of resource management that combines use of a non‐renewable resource, such as oil, with eventual transition to a backstop substitute resource in infinite supply (e.g., solar energy). In the context of this model, we derive golden rules that govern efficiency in both the accumulation of capital and in the extraction of natural resources for use in production. These results supplement the Solow‐Hartwick model of maximin consumption in helping to illuminate the notion of sustainable developm

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01847.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper analyzes expenditure patterns in Australia and New Zealand by estimating ‘complete’ demand systems on budget data. Tests of linear Engel curves and separable preferences are carried out on both data sets. The study also exploits the information on household composition to test for demographic effects. Several new demographic ally extended demand functional forms are proposed and estimated, and their behavioural and welfare implications in terms of equivalence scales compared. The study yields plausible estimates of price and expenditure elasticities, and shows that relevant price information can be used successfully to estimate the ‘cost’ of

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01848.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

A macro model incorporating rational expectations in financial markets (the Murphy Model–MM) is used to endogenize the macroeconomic environment for a comprehensive general equilibrium model (ORANI). The interface exploits the existence of variables which are endogenous to both models, calibrating on a shock to government spending. Prospective benefits include: (1) to the numerous policy oriented users of ORANI, a facility allowing the macroeconomic environment to be determined by a macrodynamic model such as MM; (2) to these users, reassurance that ORANI's short‐run translates in calendar time to about two years; (3) to the clientele of a macro model, the possibility of much more detailed projecti

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01849.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01850.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Book reviewed in this article:Lectures in Industrial Organization Theory, by K. Basu.Advanced Industrial Economics, by S. Martin.A Defence of Economic Rationalism, edited by Chris James, Chris Jones and Andrew Norton.Economic Rationalism Dead End or Way Forward?, edited by Stephen King and Peter Lloyd.Crisis, Stabilization and Economic Reform: Therapy by Consensus, by M. Bruno.Maynard Keynes. An Economist's Biography, by D.E. Moggridge.John Maynard Keynes. The Economist as Saviour 1920–1937, by Robert Skidelsky.Struggle and Survival on Wall St: The Economics of Competition Among Securities Firms, by John O. Matthews.Distorted Probabilities and Choice under Risk, by C. Puppe.Utility Theories: Measurements and Applications, edited by W. Edwards.Generalized Expected Utility Theory, by J. Quiggin.Business Cycles, by Andy Mullineux, David G. Dickinson, and Wensheng Peng.The Macrodynamics of Business Cycles: A Comparative Evaluation, by Mohammad H.I. Dore.Economic Crisis in Developing Countries: New Perspectives on Commodities, Trade and Finance(Essays in honour of Alfred Maizels) edited by Machiko Nissanke and Adrian Hewit

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01851.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01852.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1994.tb01853.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY