The aim of the present paper is to examine the statistical properties of social expenditures projections with the use of a stochastic model.

This paper presents a test of Wagner's Law for the OECD countries using data from 1960 to 1995. Unlike other analyses of Wagner's Law, explicit allowance is made in the paper for the effect of changes in the age distribution of the population on public spending. The results show that the...

This paper describes a dynamic microsimulation model of cohort demographics that has been developed to consider the working lifetime in Australia. The model provides a valuable resource for studying dynamics in Australia since, in addition to the usual advantages of microsimulation analysis,...

This paper presents a new approach to the description of household size distributions. It has been found that a Poisson distribution can be used to approximate the observed household size distribution in terms of a single parameter, namely the average household size, where empty habitable...

By simulating a model of the optimal level of saving in a small open economy, this paper calculates the levels of optimal national saving, investment and the current account balance for five Asian countries, Hong Kong, Japan, Singapore, Malaysia and Philippines, for the period from 1997 to 2050....

This paper explores an approach to modelling the income distribution which involves both deterministic and stochastic components. The model is used to estimate the changing distribution of income with age for New Zealand males and females.

In the light of repeated rejections of the Hall (1978) version of life-cycle permanent income hypothesis and other empirical puzzles, the habit formation hypothesis has increased in popularity since the 1980s. However, existing formulations of habit persistence do not always perform well...

How have views on Australia's current account deficit evolved over the past two decades? What factors have shaped and altered policy and market perceptions of the current account? This paper examines these questions within the framework of the intellectual underpinnings of the debate on the...

This paper examines the choice of government expenditure on public goods and transfer payments, in the form of a pension, in an overlapping generations model. Government expenditure is tax-financed on a pay-asyou- go basis. A utilitarian judge chooses expenditures to maximize a social welfare...

This paper examines the choice of government expenditure on public goods and transfer payments (in the form of pension) under majority voting in an overlapping generations model, in which government expenditure is tax-?nanced on a pay-as-you-go (PAYG) basis. The condition required for majority...