This article analyses differences in the wealth of nations by comparing PPP-based cross-country incomes from the Penn World Table with those derived from prevailing exchange rates. Using the Balassa (1964)-Samuelson (1964) productivity-bias framework, we introduce the 'international poverty...

The stochastic approach to index numbers has been successfully applied to the estimation of inflation, the world interest rate and international competitiveness. One distinct advantage of this approach is that it provides the whole distribution of the index, not simply one value. In this...

This article investigates factors affecting the participation in marijuana, cocaine and heroin using micro-unit data from an Australian national survey on recreational drugs. Accounting for cross-drug correlation potentially induced by unobserved personal characteristics such as individual...

We examine the occupational attainment of recent immigrants at 2 years post migration in order to study their early stage assimilation into the labour market in Australia. Human capital endowments and country-of-origin effects are examined for six occupational groups. We also study transitions...

There are three major approaches used to estimate index numbers. The first is Fisher's test approach whereby indexes are judged on their ability to satisfy certain criteria. The economic theory of index numbers is the second approach and this deals with their foundations in utility theory. The...

The hypothesis of additive utility (or preference independence) is often applied to the demand for broad aggregates. Recent testing provides some evidence favourable to the hypothesis, thus overturning the older results based on the standard asymptotic tests which are seriously biased against...

As there is a plethora of demand models, which one should be used to estimate income and price elasticities? The paper sheds light on this important practical problem by developing a matrix approach to simulating (MAS) demand equations to analyse their performance under idealized circumstances....

This article introduces a new tool for measuring relative pay within organizations. We call this innovation the 'Pay Parity (PP) matrix', and discuss its advantages and useful properties. The PP matrix allows us to conveniently measure, and draw inferences about, the nature of the whole...

This article introduces a new tool for measuring relative pay within organizations. We call this innovation the ‘Pay Parity (PP) matrix’, and discuss its advantages and useful properties. The PP matrix allows us to conveniently measure, and draw inferences about, the nature of the whole...