This article surveys the work of Yew-Kwang Ng who, in 2007, was elected Distinguished Fellow of the Economic Society of Australia. Emphasis is given to the distinctive, wide ranging and original aspects of his work. Copyright © 2008 The Economic Society of Australia.

This paper analyses the various issues that are likely to arise with price regulation of privately owned airports. It begins with a brief background on Australian airports, and a review of regulatory experience elsewhere. Issues which can create problems for price regulation include congestion,...

In this paper, we propose a one-factor regime-switching model for the risk adjusted natural gas spot price and study the implications of the model on the valuation and optimal operation of natural gas storage facilities. We calibrate the model parameters to both market futures and options on...

The demands on airport infrastructure around the world are both growing and changing. This paper explores what problems these changing demands imply for airports, and how they are coping with them. Growth in demand imposes a problem of allocation of scarce capacity in the short run—how...

Many would consider that the current reliance on air transport is environmentally unsustainable, especially given its impacts on climate change and its use of non-renewable resources. In addition, financial sustainability is often seen as inconsistent with environmental sustainability. The...

With recent developments in the airline industry, trade concepts (e.g. the nationality of the airline) are becoming increasingly difficult to define. However, definitions are needed primarily when trade is to be restricted, and the appropriate definition depends on the objectives of the aviation...

Many tourists now travel by air, and aviation liberalisation has greatly contributed to the boom in international tourism. The relevance of tourism economic benefits in aviation policy decisions is becoming established, though there has been little by of analysis of these, of how they can be...

The history of entry and exit by low-cost carriers in Australia is outlined; two phases of entry are identified, the early 1990s, and the year 2000. The factors influencing success or failure are examined in the light of experience in North America and Europe. The strategies adopted by the...