In business-cycle research, smoothing data is an essential first step to evaluate the extent to which model-generated moments stand up to their empirical counterparts. We put to test McDermott's (1997) modified version of Hodrick and Prescott's (1997) smoothing filter. On the one hand, our...

A variety of financial characteristics of Australian initial public offerings (IPOs) for the period 1994-1999 are explored. A number of previous Australian studies have investigated the initial day underpricing and longer term underperformance of IPOs and this study updates those papers. This...

The paper analyses the prediction of test cricket outcomes using an ordered response model. The results, based on data over the period 1994 to 1999, suggest that the ordered categorized production outcome of test cricket (win, draw, loss) can be explained by simple measures of the batting and...

A healthy creative arts industry can contribute significantly to the economic and social fabric of a community. Unfortunately, regional areas often suffer from a lack of supply and demand for the creative arts. This article explores the demand for the creative arts in three regional locations in...

The finding of clustering in financial prices on particular digits is common across a broad range of financial markets. This article explores whether price clustering is also present in the case of the weekly market for seasonal water in rural Victoria, Australia. We find a similar degree of...