This review of time series and cross-sectional studies indicates that there is little agreement as to the "true" value of the elasticity of substitution. There appears to be no clear-cut explanation for the diversity of the estimates. Not only do the various studies attribute widely different...

This 1977 paper is about estimating elasticities for the ORANI model -- in particular the elasticity of substitution between capital and labour. Literature is surveyed, and a theoretical approach outlined. Then data and regression results are briefly discussed. From cross-sectional data, the...

Accession to the World Trade Organization (WTO) marks a new era in China's economic reform. In this new era, state capital will lose its dominance of pillar industries such as iron and steel, automobile, petrochemicals, non-ferrous metal, insurance, telecommunication, banking, wholesale, and...

The paper uses MONASH, a dynamic computable general equilibrium model, to investigate the impact on the Australian economy of a 50 per cent increase in the skilled migrant intake over the period 2005-2025. The primary purpose of the modelling it to identify how the labour market might absorb an...

The problem of endowing large applied general equilibrium models with numerical values for parameters is formidable. For example, a complete set of own- and cross-price elasticities of demand for the ORANI model involves 228 squared, or about 60 K items. Invoking the minimal assumptions that...

Team research has been much more widespread in the natural sciences than in economics. Yet when it comes to modeling an economy (especially the global economy) in detail, the quantity and range of inputs necessary makes team work the only viable option. Drawing some inspiration from Australian...

In 1994, the Australian National Training Authority (ANTA) was established by agreement between the Commonwealth, State and Territory governments. Central to the agreement is the National Strategy for Vocational Education and Training (VET) which is organized around the four main themes of...

In its recent White Paper on Employment and Growth, the Australian Government announced a comprehensive new agenda to supplement its existing employment policies. It includes the following major elements * reforms to labour market assistance; * training and education reforms; * a reconstructed...

Robert Hall (1986, 1988, and 1990) has emphasised the importance of imperfect competition and economies of scale in explaining procyclical movements in measured total factor productivity in US industries. In contrast to the labour hoarding hypothesis and real business cycle theorists, he cites...

This paper describes the regional extension of USAGE-ITC, a 500-order dynamic CGE model of the US that we are developing in collaboration with the International Trade Commission. With the regional extension, USAGE-ITC can project the effects on employment and output by state of policy and other...