This paper examines the costs of inflation and unemployment encountered in the post-war Australian economy. The analysis takes place under the assumption that a trade-off between inflation and unemployment has persisted over this period. The methodology encompasses estimates of Okuns coefficient...

This paper explores the implication of a potential quality-improving innovation through its application to digital camera market. It simulates post-innovation prices and sales of cameras and quantitatively estimates the economic impacts of the innovation based on a random coefficient structural...

Flexibility is of great interest to policy makers and in the popular policy debate, unions are believed to be a main impediment to achieving it. However, these beliefs are not based on firm empirical foundations. Using a new dataset on U.S. three digit manufacturing industries from 1971 - 1994,...