This paper describes a method of estimating the welfare effects of a set of price changes, using money measures of welfare change such as compensating and equivalent variations, and the associated concept of "equivalent income".

This paper estimates the price responsiveness of cannabis, alcohol and cigarette use. Individual level data from four waves of the National Drug Strategy Survey is merged with previously unavailable state level data on cannabis prices and ABS alcohol and tobacco prics indices. In addition to own...

This paper juxtaposes the policy trend towards price stability with the theoretical optimal quantity of money. After reviewing alternatives to the Friedman (1969) optimum, it focuses on the effect of costly nominal adjustment as a result of inflation.

This paper exemines the redistributional effect of price changes in Australia over the sixteen year period from 1980 to 1995.

This paper constructs a simple repeated game model to analyze how industry outcomes alter if a regulated input monopolist is allowed to integrate into the downstream retail market. Integration helps overcome double marginalization-a feature well known in the existing literature. Unlike existing...

This paper examines the influence of mobile network competition on the prices of fixed-to-mobile calls. Because fixed line customers cannot, in general, distinguish the identity of a specific mobile network, these networks have market power when setting termination charges for calls from fixed...

In the first section the authors discuss the nature of cyclical features and the distinction between the traditional analysis of co-movement discussed in the business cycles literature and the more recent common cycles analysis. Section 2 examines the nature of the data used in the estimation...

In this paper we examine the trends in the prices of natural resource commodities in Australia. The existing literature predicts rising prices for minerals, indicative of scarcity. We present a menu of tests to characterise the observed trends in the prices of 12 resources and do not find any...

We derive conditions under which all sellers bargain in (the Nash) equilibrium and yet other conditions under which all sellers post fixed prices. Some fraction of buyers have zero search costs but buyers are otherwise identical.