Motivated by the increasing use of forward guidance, we consider DSGE models in which the central bank holds the policy rate fixed for an extended period of time. Private agents’ beliefs about how long the fixed-rate regime will last influences current output and inflation. We estimate the...

Very little is known about how the differential treatment of sexual minorities could influence subjective reports of overall well-being. This paper seeks to fill this gap. Data from two large surveys that provide nationally representative samples for two different countries – Australia (the...

This document describes the methodology developed by the Melbourne Institute to: (i) harmonise holders of intellectual property rights (IPRs) at IP Australia (applications for patent, designs, trademarks and plant breeder’s rights); (ii) match Australian IPRs holders to the Australian business...

This paper uses survival analysis to model exits over time from two alternative notions of homelessness. We are unique in being able to account for time-invariant, unobserved heterogeneity. We find that duration dependence has an inverted U-shape with exit rates initially increasing (indicating...

This paper examines the extent to which year-9 performance on the National Assessment Program—Language Arts and Numeracy (NAPLAN) predicts access to higher education as determined by subsequent achievement on year-12 Victoria Certificate of Education (VCE) exams. VCE performance is measured...

This study estimates the causal effect of schooling on health behaviors. Using changes in the minimum school leaving age laws that varied by birth year and states in Australia from age 14 to 15 as a source of exogenous variation in schooling, the instrumental variables (IV) regression estimates...

This paper describes a simple and tractable method for identifying equivalence scales that reflect the value judgements implicit in a tax and benefits system. The approach depends upon two assumptions that are standard in the literature concerned with inequality and tax progressivity, in...

In social and economic analysis of longitudinal data, the socio-economic variables that are statistically significant in pooled data regressions sometimes become insignificant after individual fixed effects are controlled for. This phenomenon has been observed in the analysis of the relationship...

This paper examines the relationships between the Gini coefficient, trade-openness, foreign aid and foreign direct investment flows. Panel data estimates show that trade openness can be effective for changing income inequality, but its effectiveness depends on the stage of development....