摘要:

The impact of union behaviour on the economy has received fresh theoretical attention lately, but virtually all the work to date has been conducted in a comparative static context The research reported in this paper seeks to break new ground in this field by placing the unionized labour market squarely in the framework of a dynamic (Solow‐Swan) growth model The analysis works from first principles, relating the microeconomic decision‐making procedure of an interventionist trade union to the growth of the capital stock, and the intertemporal flavour of the model is enriched by the presence of two‐period‐lived individuals. The precise dynamics of the interaction between union optimization and capital accumulation are

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01710.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

This paper uses a newly developed economic return model to estimate the real (inflation adjusted) costs of supply, and rates of return, for the electricity systems in three States over very long time periods. It is shown that because of a combination of public ownership and the use of historical cost accounts, the real return on capital tends to fall with the onset of rapid inflation such as occurred in the mid 1970s In NSW in particular the rapid growth in demand for electricity in the 1970s due to falling real electricity prices and considerable increases in other energy prices has given rise to a major investment program and rapidly developing excess capacity. Higher real electricity prices in the 1980s, combined with the economic slump of 1982, resulted in low or negative growth rates in demand Much of the boom I bust mentality evident in all three States may have been avoided or ameliorated had the electrical supply authorities been required to earn even a very modest real rate of return of (say) 4 or more per cent p.a. which is considerably below the (pre‐tax) return earned in the corporate secto

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01711.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

The most common procedure for estimating the share parameters of a CGE model is to calibrate the model using a particular year‐of‐record benchmark equilibrium data set. In this paper we argue the case for calibration from synthetic benchmark equilibrium data sets which portray the economy in a notional typical year. The development of a synthetic agricultural sector in the benchmark equilibrium data set of the ORANI model of the Australian economy is described Finally a comparison is made of the results from ORANI of an across‐the‐board tariff cut simulation computed with both the synthetic benchmark equilibrium data set and a particular year‐of‐reco

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01712.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

The paper provides a description of the existing legislative basis for prudential supervision in Australia, traces the development of a more formal approach, and critically assesses existing legislation and the bank examination process. Particular emphasis is devoted to the role of external auditors as quasi bank examiners.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01713.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

The recent interest in the privatization of major urban roads has opened up the debate on the tolling of such facilities. Central to the identification of optimal tolls is a knowledge of the amount of money individuals are willing to outlay to save travel time. This paper combines a utility maximization framework with stated response data to determine values of time savings in the presence of varying levels of toll for the full set of urban journey purposes. The empirical results provide a basis for establishing one benchmark for toll setting, in the context of substantial lengths of urban roads. There are no tolled urban roads in any major urban area throughout the world

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01714.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

In Australia the practice of partially indexing wages has become an art form. While open economy macroeconomics has been extended by various authors to the indexed wage case, none highlights the distinctive effects of partial indexation. This paper examines short‐and long‐run consequences of partial indexation. The standard conclusions that partial indexation is conducive to growth and that fiscal policy with partial indexation is expansionary are seriously questi

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01715.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

The community of academic economists and professionals has suffered a great loss by Richard Manning's untimely death. He was barely halfway through his career and at the peak of his ability as a researcher, teacher and leader. Many students will no longer encounter his insight into economic theory, many colleagues will miss his ability to focus discussion into fruitful avenues and many good papers will not be written with the same clarity of thought The discipline of economics is poorer for it.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01716.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Book reviewed in this article:Australian Economic Growth: Essays in Honour of Fred H. Gruen, edited by B ChapmanTechnology, Education and Productivity, by Z. GrilichesEconometric Model Selection: A New Approach, by A. Aznar Grasa

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01717.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01718.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb01719.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY