Australians are among the largest consumers of marijuana in the world, and estimates show that their expenditure on marijuana is approximately twice that on wine. In the present paper, the evolution of Australian marijuana prices over the last decade is analysed, and a decline in real terms by...

Australians are among the largest consumers of marijuana in the world, andestimates show that their expenditure on marijuana is about twice that on wine. In thispaper we analyse the evolution of marijuana prices in Australia and show that they havedeclined in real terms by almost 40 percent over...

In this paper the construction and application of ORANI-WINE is described. This is a special-purpose version of ORANI specifically designed for analysing policy questions bearing upon the alcoholic beverages sector of the Australian economy and on associated agricultural activities, especially...

The stylized fact of the inflationary process is that it makes life more uncertain. If prices are increasing rapidly it is argued that there is more noise in the system so that prices convey less information. This implies that people will make wrong decisions if they do not make substantial...

The Millennium Boom of 2003–2011 made the resources industry hugely profitable and led to a surge in new projects around the world. This had major implications for the Australian economy: resource investment accounted for almost half of all business investment at the peak, the capitalisation...

At any given instance there are many indicators of the state of the economy, or the state of a sector, and frequently the signals are mixed – some may point to an expansion, others to a contraction, for example. We consider how best to combine this conflicting information into an overall index...

Henri Theil devoted a good deal of the last two decades of his professional activities to the analysis of international consumption patterns. This paper commences with a review of Theil’s path-breaking research on cross-country demand, and then investigates in some detail two important...