摘要:

This paper investigates the major causes of Australia's recent inflation with special emphasis on the 1970s and early 1980s A general model of inflation is formulated based upon a vector auto‐regression The main empirical finding is that increases in wages and import prices and more recently in money have been significant causal factors of Australia's inflationary experience. Government current expenditure is found to contribute passively to cost‐push infla

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00673.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

Large increases in the private sector's savings ratio during a period of rapid growth in the relative size of the public sector has led to the suggestion that substitution between private and public consumption may be an important fcature of the Australian economy (Clements 1979). In this paper, empirical estimates are presented which indicate that no such substitution exists The estimates are derived from a theoretical model of consumption which is based on inter‐temporal optimization in a stochastic environment. The estimates also suggest that private sector consumption behaviour is consistent with the joint hypothesis of rational expectations and Ricardian equivalen

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00674.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

We develop a necessary and a sufficient condition for an improvement in terms of trade to reduce welfare under a general setting, which can accommodate various types of market stucture and trade distortions. We also apply the conditions to two specific cases, viz export subsidies and the existence of monopoly in a non‐tradeable sector. It is found that a rise in price for an exportable commodity which is subsidized may well reduce welfare. Also, improvements in terms of trade may well harm the economy if there is a non‐tradeable monopoly sec

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00675.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

The aim of this paper is 10 survey critically the recent literature on rent seeking and Directly Unproductive Profit‐Seeking Activities (DUP). The links with the related literatures on transactions costs and property rights are also explored. It is argued that a clearer understanding of wasteful competition emerges if the framework of constitutional economics is adopted. It is furthermore argued that a dynamic framework is most suitable to analyze wasteful competiti

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00676.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00677.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

This paper was motivated by my participation in the Economic Theory Symposium of the 1988 Australian Economics Congress, Canberra. It represents only one perspective on an immense literature. As the reader will notice, I have often referred to my own work. for two reasons. The first is because it is what I know best, the second is to provide an illustration of the in efficiency resulting from the incentive constraints editors face in contracting for surveys.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00678.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00679.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00680.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00681.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1989.tb00682.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY