In this paper we examine a database assembled from an Australian public register of 553 merger decisions taken between March 2004 and July 2008. Mergers may be accepted without public assessment, accepted in conjunction with publication of a Public Competition Assessment, or rejected. We...

The carbon emissions of Australia’s future energy consumption are compared with the emissions targets implied by the cuts in carbon emissions committed to by the Australian government for 2020 and 2050. Analysis shows that even the seemingly modest cut of 5% of carbon emissions by 2020...

In this article we model production technology in a state-contingent framework. Our model analyzes production under uncertainty without regard to the nature of producer risk preferences. In our model producers? risk preferences are captured by the risk-neutral probabilities they assign to the...

Chambers and Quiggin (2000) have used state-contingent production theory to establish important results concerning economic behaviour in the presence of uncertainty, including problems of consumer choice, the theory of the firm, and principal-agent relationships. Empirical application of the...

First year statistics is one of the 'problem' subjects in many institutions. At the University of Queensland in the School of Economics it is a compulsory course with a large enrolment, offered in both first and second semesters, and also across two campuses in semester one. Even though the...

This paper analyses the impact of fiscal decentralisation on the Australian economy at both the aggregate and state levels. Attention is given not only to economic growth but also to a number of important macroeconomic variables which may influence growth. The results suggest that there is no...

This paper proposes a multivariate unobserved components model to simultaneously decompose the real GDP for each of the G-7 countries into their respective trend and cycle components. In contrast to previous literature, our model allows for explicit correlation between all the contemporaneous...

This paper investigates the financial and housing wealth effects on aggregate private consumption in Turkey for the period 1987-2007. Given the lack of data, the study proposes an innovative method to construct a proxy for the housing wealth series. A long-run equilibrium relationship between...

We present an empirical model where output growth volatility and government expenditure are jointly endogenous and both are affected by policies and institutions. We ¯nd that output volatility increases government expenditure, but higher expenditure, causes greater out-put volatility. This...