Emissions trading schemes (ETS) have been operational to control greenhouse gas emissions in European Union since 2005. Under the EU ETS, the governments of the Member States agree on national emission caps, allocate allowances to industrial operators, track and validate the actual emissions and...

This paper develops a Tobin’s q model of house prices which shows that changes in interest rates, demography, and income are likely to have only temporary effects on house prices while house prices in the long run are determined by prices of developed land, value added taxes, stamp duties, and...

This paper provides an estimate of the costs to the Victorian community in 2009-2010. The findings from this study suggest that the costs of crime in Victoria in 2009-2010 were $9.8 billion. This amount is equivalent to $1678 per person in Victoria or 3.4% of Gross State Product in Victoria in...

Comprehensive, multi-level approaches are required to address obesity. One important target for intervention is the economic domain. The purpose of this study was to synthesize existing evidence regarding the impact of economic policies targeting obesity and its causal behaviours (diet, physical...

We show how the concepts of remembered utility and experienced utility correspond to cognitive appraisals of life satisfaction and emotion/affect respectively, as these concepts are used in psychology. Cognitive life satisfaction, or remembered utility, is relatively stable over time and can be...

This paper formulates a demand model for residential water in Sri Lanka using the Stone-Geary functional form. This functional form has two main advantages when compared with Cobb-Douglas: non-constant price elasticities and; it considers water consumption as two components – a fixed and a...

Two common problems in econometric models of production are aggregation and unobservable variables. Many production processes are subject to production shocks, hence both expected and realized output is unknown when inputs are committed. Expectations processes are notoriously difficult to model,...

The role of human capital composition has been given importance in the most recent endogenous growth models. Assuming that primary as well as secondary education is more suitable for imitation and higher education is more appropriate for innovation, this paper empirically investigates whether...

This paper examines various transmission mechanism channels on economic growth in Malaysia over the quarterly period 1980:1-2004:4 using bounds testing approach. The bounds test reveals evidence of cointegration between the real GDP and the real exchange rate and share prices that address the...

This paper is aimed to provide an economic interpretation on the emergence and evolution of the specialised middlemen whose duty is to facilitate the transactions of goods and services in an economy. In a general equilibrium framework, the emergence and evolution of the specialised middlemen...