During the latter part of 2002 large areas of Australia have been affected by severe drought. In this paper, we examine the prospects for the Australian economy between 2001-02 and 2004-05, with particular emphasis on the implications of the drought for regions. Forecasts that take into account...

This paper was written in honour of Peter J. Lloyd on the occasion of his retirement and celebrates his preeminence as a theorist and practitioner of the economics of international trade. Besides a surprising number of leading trade theorists, Australia has added significantly to empirical work...

This paper outlines two potential approaches to incorporating business taxation and allowances into a model of a firm to determine the effect of tax policy changes on the firm's behaviour. Following Auerbach, King and Benge, we first develop a model in which the firm maximises the value of its...

This paper presents an overview of the Monash Multi-Regional Forecasting-Green (MMRF-Green) model. MMRF-Green is a multi-regional, multi-sectoral model of the Australian economy. It is founded on the MMR model. MMR is a comparative-static model. MMRF-Green, in contrast, is a dynamic model;...

We estimate a simultaneous discrete choice model for welfare participation and labour supply of two-adult households in Australia using the Income and Housing Costs Survey of 1994/1995. In this paper only unemployment-related welfare payments are considered. Welfare participation is assumed to...

MONASH-RES combines a top-down regional equation system with the MONASH dynamic model of Australia to produce regional forecasts or policy analysis. Experience indicates that MONASH-RES gives acceptable rankings of regional economic prospects but understates inter-regional differences. We...

ORANI is an applied general equilibrium (AGE) model of the Australian economy which is widely used by academics and by economists in the government and private sectors. We describe a generic version of the model, ORANI-G, designed both for expository purposes and as a convenient starting-point...

This paper describes the application of the MONASH CGE model to labour market forecasting in Australia. The method consists of solving a top-down sequence of models that proceeds from a macro scenario to the CGE model to various labour market extensions. The extensions involve ex post processing...

In this paper, all technology transfers are embodied in trade flows within a three-region, one-traded-commodity version of the GTAP model. Exogenous Hicks-Neutral technical progress in one region can have uneven impacts on productivity elsewhere. Why? Destination regions' ability to harness new...

Robert Hall (1986, 1988, and 1990) has emphasised the importance of imperfect competition and economies of scale in explaining procyclical movements in measured total factor productivity in US industries. In contrast to the labour hoarding hypothesis and real business cycle theorists, he cites...