摘要:

This paper surveys and analyzes the economic literature on ‘privatization’ policies, restricting coverage to policies designed to improve the operating efficiency of public sector enterprises through increased exposure to competitive market forces. These include asset sales, liberalization (or deregulation) and franchising. The objectives, incentives and constraints of public and private enterprises are examined, and evidence on their comparative performance is analyzed. Public sector revenue effects from asset sale are also explored. On the basis of these considerations, the paper concludes that liberalization is an important ingredient in any policy package designed to improve the operating efficiency of public sector enterprises. Asset sale may enhance the beneficial impact of deregulation but asset sale in the absence of deregulation is unlikely to improve efficiency, and may introduce additional market distortions. Franchising is seen as an appropriate mechanism for privatization when the market is inherently monopolistic and when the government desires to retain control over output and/or pr

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00891.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

We model the determination of output, factor payments and prices within publicly owned firms, assuming the firms are managed by utility‐maximizing employees monitored by vote‐maximizing politicians. The choice of a public monopoly to supply the output is most suited to further the redistributive aims of the politicians, but will also be favoured by employees who can capture some re

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00892.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

While public concern about Australia's relatively poor growth performance is recent, our performance has been poor for a long time. Practically the whole of our slide down the income‐per‐head totem pole occurred before 1973. The paper advances the argument that ‘made to measure’ protection and widespread restrictive trade practices used to be one of the main factors retarding faster growth in Australia before the seventies, though deteriorating terms of trade have also been important. The profit squeeze resulting from real wage inflexibility during the seventies has probably played an important role since then. There is no evidence to support the contention that our poor growth is the result of the expansion of the public

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00893.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

The stability of oligopolies is investigated using the Cournot strategy and a general output adjustment procedure. Information delays are incorporated in the adjustment procedure and their specific effects upon the dynamic stability of oligopolies is investigated. The stability of equilibrium for discrete models is unaffected by information delays and remoteness of planning horizons; however the rate of convergence to equilibrium may be slowed. For continuous models with delays, some restraints are required for stability.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00894.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

In this paper we examine the relationship between margins, elasticities of demand and the Hirschman‐Herfindahl index of concentration for Australian manufacturing. Our main aim is to estimate the degree of collusion in various manufacturing sectors in the years 1968‐69, 1972‐73 and 1977‐78. There appear to be marked differences in the apparent degree of collusion between industries. It is argued that once sub‐optimization is allowed the Cowling‐Waterson model will yield biased estimates of the degree o

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00895.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

Double taxation of international income flows has been regarded as undesirable and international tax agreements have been negotiated to avoid it. The questions asked are whether double taxation is appropriate and whether cooperation is required to reach the optimal solution. The results are that generally some double taxation is desirable, as long as taxes are applied at the appropriate rates, and that an efficient solution can be attained in the absence of explicit cooperation using a deduction rule, instead of the now commonly used credit rule. A rationale for the current system of tax agreements and their emphasis of the credit rule is discussed.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00896.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

This paper compares a number of structural and times‐series models on the basis of their accuracy in forecasting the A ustralian‐US dollar exchange rate out of sample. Purchasing power parity, forward exchange theory, static and dynamic specifications of both the flexible price and sticky price monetary models, and univariate ARIMA models are considered in the paper. Exchange rate forecasts are generated at horizons of one to four quarters. In contrast to overseas results which support the view that the exchange rate follows a random walk, several models in this study are found to generate forecasts superior to the random walk mo

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00897.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

This paper considers the economic efficiency benefits of urban public transport subsidies and presents estimates of the marginal benefits of fare and service level changes in the main Australian cities. Models to evaluate benefits are outlined, and estimates compared of the benefits to public transport and other road users of fare and service level changes in different cities. A major conclusion is that existing urban public transport subsidies might be more effective from an economic efficiency point of view if frequency levels were reduced and the consequent cost savings used to finance lower levels of fares.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00898.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00899.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY

摘要:

Book reviewed in this article:A Course Through Life: Memoirs of an‐Australian Economist, by H. W. ArndtThe Role of the Public Sector: Causes and Consequences of the Growth of Government, by P. Saunders and F. KlauEconomics of Worldwide Stagflation, by Michael Bruno and Jeffrey D. SachsThe Economy of Papua New Guinea: An Independent Review by R. Goodman, C. Lepani and DPolicy, Power and Order: The Persistence of Economic Problems in Capitalist States, by Kerry Scho

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1986.tb00900.x

出版商:Blackwell Publishing Ltd    

年代:1986

数据来源: WILEY