摘要:

A stylized representation of the check‐list approach to monetary policy is developed. In order to examine this approach in a formal framework the literature on optimal money supply rules is extended with the check‐list being interpreted as an optimal money supply rule that depends on many variables and attempts to keep the economy on a preplanned path despite unexpected shocks. The strengths and weaknesses of the check‐list approach are then ex

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02523.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

The primary objective of this study is to examine the impact of technological progress on costs of production in 34 Australian manufacturing industries. An analytical model incorporating the notion of factor‐augmenting technological change was developed and applied to each industry. The results indicated that in most of the industries technological progress during the period 1954–55 to 1981–82 had been biased towards augmenting labour and thereby reducing the cost of labour per unit of production. The implication of the analysis is that there is a nexus between incomes policy and the rate and bias of factor‐augmenting technological

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02524.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

If exchange rates and prices are integrated processes, standard econometric tests of the purchasing power parity (PPP) hypothesis may be biased towards rejection. This paper avoids this problem by using the Engle and Granger (1987) theory of cointegrated processes. If the absolute version of purchasing power parity is true, and nominal exchange rates and prices are integrated processes, inter‐commodity arbitrage should ensure that the real exchange rate is stationary. The stationarity hypothesis is tested using Australian real exchange rate data for the 1890–1984 period We find that the effective real exchange rate cannot be modelled as a stationary process and therefore reject the absolute version of PPP. We also employ a test for structural breaks due to, for instance, the oil price shock and find mixed results. Another interpretation of our results is that the real exchange rate was affected by a series of permanent, real shocks during the sample pe

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02525.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02526.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

It is argued that for many purposes the measurement of inequality should be based on income measured over a longer period than a single year. However, samples of individual earnings over a long period are extremely rare, and there are no data on complete lifetime earnings. This survey examines the wide variety of attempts that have been made to estimate inequality using a longer accounting period Emphasis is placed on the problems of extending the accounting period, rather than the properties of particular statistical measures of inequality.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02527.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02528.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

Book reviewed in this article:Australia in the International Economy in the Twentieth Century, by B. Dyster and D. MeredithAustralia's Foreign Debt Myths and Realities, by John PitchfordConvict Workers: Reinterpreting Australia's past, edited by Stephen NicholasTrade Policy in a Changing World Economy, by Robert E BaldwinJapan: Facing Economic Maturity, by E. J. LincolnSocial and Psychological Foundations of Economic Analysis, by J. L. BaxterHandbook of Economic Psychology, edited by W. F. Van Raaij, G. M. Veldhoven and K‐E. WamerydShare Markets and Portfolio Theory, edited by Ray Ball, Phillip Brown, Frank J. Finn and R. R. OfficerMacroeconomic Theory and Stabilization Policy, by Willem H. BuiterThe Theory of Industrial Organization, by J. TiroleThe Economics of Missing Markets. Information, and Games, edited by F. HahnPrivatization: An Economic Analysis, by J. Vickers and G. YarrowRegulating for Competition? Trade Practices Policy in a Changing Economy, edited by M. Jam

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02529.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02530.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02531.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

ANTONIDES, G. The Lifetime of a Durable Good, An Economic Psychobgxal ApproachGREENAWAY, D., HYCLAK, T. and THORNTON, R.J. (eds). Economic Aspects of Regional Trading ArrangementsDAHIYA, S.B. Planning Theories and Techniques in India A CritiqueGUPTA, K.L. Industrialisation and Employment in Developing Countries: A Comparative StudyEL‐NAGGAR, S. Privatisation and Structural Adjustment in thc Arab CountriesDUNNETT. P.J.S. The World Television Industry: An Economic AnalysisVAN DUK, J., FOLMER. H., HERZOG, H.W., Schlottmann, A.M. (eds). Migration and Labour Market Adjustme

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1990.tb02532.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY