F<sc>raser</sc> P., M<sc>ac</sc>D<sc>onald</sc> G. A. and M<sc>ullineux</sc> A. W. Regional monetary policy: an Australian perspective, <italic>Regional Studies</italic>. A structural vector autoregressive (SVAR) model for Australia is utilized to identify the domestic impacts of <italic>common</italic> monetary policy shocks on national and state business cycles...

This paper uses a recently suggested test for unit roots in panels of time series data (Maddala and Wu, Oxford Bulletin of Economics and Statistics, 61, 631-52, 1999) to consider the Purchasing Power Parity hypothesis. The major innovation of this test is that it allows both the testing of unit...

Purpose – This paper aims to analyze the impact of common monetary policy shocks on house prices at national and capital city levels of aggregation, using Australian data and the Lastrapes (2005) two-part structural vector autoregressive (SVAR) empirical method. Design/methodology/approach –...

What are the forces behind the increasing globalization of economic life? How does globalization affect the functioning of national economies? What difficulties confront government policymakers in dealing with the global economy? These issues are addressed in this volume by leading specialists....

This note reconsiders the unit root properties of health care expenditure (HCE) and gross domestic product (GDP) for OECD countries. The time-series properties of this data set has been much discussed in the literature with contrasting results from the application of a range of test procedures....

A capital grant model has been developed which can be used in developing economies to allocate grants to sub-national governments for economic or social capital. The model allows these allocations to happen in a way that increases the value of the capital stock whilst at the same time addresses...

This article examines the role of the consumption-wealth channel in explaining asymmetric effects of monetary policy changes. Towards this end, we draw upon available literature on the consumption function and behavioural finance to construct a framework for asymmetric effects of monetary policy...