Global warming is an example of a global tragedy of the commons. The atmosphere is a global common property resource. The global nature of this resource makes global warming a particularly difficult problem to solve. The reason for this is that there is no world government that can introduce and...

We analyse data in which individuals from low socio-economic status (SES) backgrounds have lower university participation rates than those from higher SES backgrounds. Our focus is on the role played by credit constraints in explaining these different participation rates. We propose a...

Deforestation is considered a major environmental issue in tropical Asian developing countries that have been undergoing major demographic and structural changes. A major contributing factor to deforestation is conversion of land for alternative, primarily agricultural, uses. There have been...

Relatively few studies have empirically examined the link between productivity growth and policy liberalization, and the evidence, though generally supportive of the hypothesis, is somewhat mixed and the levels and changes in growth rates vary substantially across countries. There is clearly...

This paper studies the usefulness of the P-star model in the analysis of the behaviour of prices in Australia and New Zealand. The P-star model is based on the quantity theory of money and the belief that the price level tends to move towards the equilibrium price level. The main contribution of...

Extensive activity is underway to revise the construction and measurement of national income statistics. However, the underlying definitions of income are not settled. At the broadest level, there is a conflict between income as an economic concept (consumption-related, inter-temporal) and an...