This paper examines whether temporary fluctuations in output around potential in developing countries are induced primarily by aggregate demand shocks or temporary aggregate supply shocks. Structural vector autoregression methodology using long-run restrictions is used to identify temporary...

Recent theoretical developments have shown that cash flows and the structure of a firm’s balance sheet may have an important influence on investment. Establishing a link between cash flows, leverage and investment provides insights into the way that monetary policy and cyclical factors more...

Several recent tax changes have increased the incentive for companies to pay dividends compared to retaining earnings. These are the introduction of the Capital Gains Tax (CGT), dividend imputation and the taxation of the earnings of superannuation funds. In this paper we examine the...

The system of providing for retirement income in Australia has undergone marked changes over the past two decades, particularly in the 1980s when changes in pension entitlements and superannuation legislation encouraged a sharp rise in superannuation saving. However, there has been no obvious...

This paper examines whether temporary fluctuations in output around potential in developing countries are induced primarily by aggregate demand shocks or temporary aggregate supply shocks. Structural vector autoregression methodology using long-run restrictions is used to identify temporary...

This paper introduces a new application for structural vector autoregression methodology in applying the technique to identifying money velocity gaps for a sample of developing countries. SVAR methodology using long-run restrictions is used to construct money-velocity gaps for a large sample of...