This paper examines the impact of export orientation, import competition, foreign ownership and the rate of capital accumulation on the relative demand for skilled and unskilled labor in pre-crisis Indonesia.

As debt work-outs facilitate recovery from Asia'a recession, GDP there can be expected to rise and manufactured exports to expand. Asian imports and investment will remain low, however, as crisis-enhanced foreign debt is serviced and domestic savings continue to be sent abroad. Superficially,...

In this paper we develop a small open economy, overlapping generations (OLG) model that incorporates non-stationary demographic transition paths to study the dynamic fiscal effects of demographic shift in Australia. Our main results are summarised as follows. First, the demographic shifts...

Benge (1997) examined the effects of the Australian full imputation company tax system and capital gains tax provisions on dividend policy and financial policy for an optimizing firm. However, there has been no attempt to quantify the financial policy biases that were identified in the earlier...

Any meaningful reform of the US Social Security system must deal with the system's current outstanding accumulated unfunded liabilities. The authors model these as a once-off financial liability payable 'tomorrow'. They show that if the equity premium puzzle arises from adverse selection...

Much evidence suggests that people are heterogeneous with regard to their abilities to make rational, forward-looking decisions. This raises the question as to when the rational types are decisive for aggregate outcomes and when the boundedly rational types shape aggregate results. We examine...

A Free Trade Area of the Asia-Pacific (FTAAP) has been proposed as a long-term prospect by the Asia-Pacific Economic Cooperation (APEC). This paper examines the impact of the FTAAP on the national and regional economies in China using a suite of general equilibrium models: APG-Cubed, a dynamic...