This paper analyses the continuation of tobacco product prices within the Consumer Price Index (CPI) compiled by the Australian Bureau of Statistics (ABS) in Australia. There are important areas concerning packet sizes, nicotine content and tar content that make the continued inclusion of such...

The Johansen and Juselius (1990) data on the money demand in Finland are re-examined through the Box-Tiao (1977) canonical correlation procedure, and the existence of stationary cointegrating vectors tested through the bootstrap. The conclusions reached are that (1) the Johansen and Juselius...

The purchasing power parity hypothesis is investigated within a highly economically integrated set of nations, namely the European Monetary System (EMS). The modern Phillips-Hansen Fully Modified Ordinary Least Squares (FM-OLS) procedure is used, which for the first time allows for an...

A well-known fact regarding the distributional properties of stock market returns is that they are fat-tailed. Evidence is provided in this paper of further interesting properties relating to a simple decomposition of returns.

The hypothesis of export-led growth is tested using annual time series data for Australia. The analysis reveals that both exports and the GDP series in log levels have unit roots but they do not cointegrate. However, there is evidence of Granger causality running from exports to GDP growth...

Statistics of per capita Gross Domestic Product for 178 countries for each of the years between 1970 and 1989 are analysed in order to measure inter-national inequalities and to assess the success of aid from the world's richer economies in reducing them. Conventional statistics of inequality,...

This paper examines the information shares in four pairs of Canadian agricultural cash and futures markets by exploring their cointegrating relationships. Using error correction models (ECMs) and Hasbrouck's econometric method of estimating information shares, the results show that the price...

Vanagunas (1984) found a significant association between the unemployment rate of minority males and both motor vehicle theft and the commercial robbery rate. However, he presented no theoretical framework with which to explain these results. This paper attempts to provide a microeconomic...

Large national micro-data bases (such as Current Population Survey and Survey of Income and Programme Participation) lack information on employer outlays for the fringe benefits paid workers. Therefore, this paper motivates research on intra-firm black-white differences in non-wage fringe...

The production function is examined and tests are made to determine whether or not output and scale elasticities vary across individual industries based on a new CES or the Box-Cox production function and a pooled data set of 20 US manufacturing industries during 1987-91. This approach differs...