Australia’s value added contribution of the Wholesale and Retail trade has strengthened against sectors such as agriculture, mining and manufacturing. At 1997-98 prices, its value added contribution to GDP during the 1990s was around 10-11%. Agriculture was 3% and mining 7-8%....

This paper analyses current government expenditure in Fiji using annual time series data for the period 1969-1999. Alternative theories of government expenditure are reviewed and a distinction is made between economic/apolitical determinants and institutional/political determinants. Categorising...

This paper seeks to identify the best practice principles for performance budgeting. It describes and analyses the principle mechanisms by which performance budgeting systems attempt to link results and resources. These mechanisms are evaluated, drawing amongst other things upon analysis of the...

This paper examines the implications of introducing a variable rate of time preference on the role of monetary policy in a dynamic general equilibrium framework explicitly designed to capture liquidity effects. Variable time preference is incorporated by allowing the discount factor applied to...

A macro model is developed incorporating the productive effects of public expenditure, but also allowing for congestion. The Pigouvian tax rate to correct for the distortion caused by congestion is found and the optimal level of public expenditure is characterized.

The paper aims to identify one of the communication techniques which creative designers may use in the Annual Review/Annual Report and Accounts, described by Hopwood (1996) as a ‘largely unresearched document’. It offers a new dimension to add to existing work on graphs, accounting...

This paper proposes a new procedure for analyzing volatility links between different markets based on a bivariate Markov switching model. An empirical application of this procedure to three emerging markets is examined and discussed.

This paper produces evidence in support of the existence of common risk factors in the US and UK interest rate swap markets. Using a multivariate smooth transition autoregression (STVAR) framework, we show that the dynamics of the US and UK swap spreads are best described by a regime-switching...

According to set-point theories of subjective well-being, people react to events, but then return to initial levels of happiness and satisfaction over time. We test this idea by examining reaction and adaptation to unemployment in a 15-year longitudinal study. In accordance with set-point...