Journal•ISSN: 0004-9018
Australian Economic Review
Wiley-Blackwell
About: Australian Economic Review is an academic journal published by Wiley-Blackwell. The journal publishes majorly in the area(s): Monetary policy & Unemployment. It has an ISSN identifier of 0004-9018. Over the lifetime, 1519 publications have been published receiving 17852 citations.
Papers published on a yearly basis
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TL;DR: In 2001, the first wave of the HILDA Survey, Australia's first large-scale household panel survey, was conducted and as discussed by the authors summarized the key features of that survey.
Abstract: In 2001 the first wave of the HILDA Survey, Australia’s first large–scale household panel survey, was conducted. This article summarises the key features of that survey.
253 citations
TL;DR: The authors analyzes the implications of this fragility for the governance of the eurozone and concludes that the new governance structure, which is intended to be successor starting in 2013 of the European Financial Stability Mechanism (EFSF), created in May 2010, does not sufficiently recognize the fragility.
Abstract: When entering a monetary union, member countries change the nature of their sovereign debt in a fundamental way, i.e. they cease to have control over the currency in which their debt is issued. As a result, financial markets can force these countries’ sovereigns into default. In this sense, member countries of a monetary union are downgraded to the status of emerging economies. This makes the monetary union fragile and vulnerable to changing market sentiments. It also makes it possible that self-fulfilling multiple equilibria arise. This paper analyzes the implications of this fragility for the governance of the eurozone. It concludes that the new governance structure – the European Stability Mechanism (ESM), which is intended to be successor starting in 2013 of the European Financial Stability Mechanism (EFSF), created in May 2010 – does not sufficiently recognize this fragility. Some of the features of the new financial assistance are likely to increase this fragility. In addition, it is also likely to present member countries from using the automatic stabilizers during a recession. This is surely a step backward in the long history of social progress in Europe. The author concludes by suggesting a different approach for dealing with these problems.
176 citations
TL;DR: The human capital model is the basis of neoclassical analysis of labour markets, education and economic growth as discussed by the authors, and it is strongly supported by the available evidence and the main evidence supporting the public choice model, derived from the literature on educational production functions.
Abstract: The human capital model is the basis of neoclassical analysis of labour markets, education and economic growth. However, education policy in Australia has been influenced by models based on screening theory and public choice theory which yield the policy implication that reductions in education spending are generally desirable. In this paper, the competing models, and the evidence supporting them, are surveyed. It is concluded that the human capital model is strongly supported by the available evidence. The predictions of screening models are generally not supported by empirical tests, except where they coincide with those of the human capital model. The main evidence supporting the public choice model, derived from the literature on educational production functions is shown to be deficient. The principal policy conclusion of the paper is that the negative effects of recent cuts in education spending will outweigh any benefits achieved through reductions in public debt.
153 citations
TL;DR: In this article, the authors investigated the efficiency and productivity of Australian airports during the 1990s by using a Malmquist total factor productivity index and data envelopment analysis and found that Australia's largest airports fare reasonably well in comparison to airports overseas, although they still possess the potential to realise further gains.
Abstract: By using a Malmquist total factor productivity index and data envelopment analysis it is possible to investigate the efficiency and productivity of Australian airports during the 1990s. The results from this analysis indicate that these airports recorded strong growth in technological change and total factor productivity, but did not fare all that well in terms of growth in technical and scale efficiency during the 1990s. At the international level it appears that Australia’s largest airports fare reasonably well in comparison to airports overseas, although they still possess the potential to realise further gains.
147 citations
TL;DR: The Australian Workplace Industrial Relations Survey (AWIRS) as discussed by the authors was the first workplace-based survey of industrial relations structures, processes and outcomes to be undertaken in this country that could claim to be representative of Australian industry.
Abstract: In 1989/90 the Commonwealth Department of Industrial Relations conducted the Australian Workplace Industrial Relations Survey (AWIRS) arguably the first ever workplace— based -survey of industrial relations structures, processes and outcomes to be undertaken in this country that could claim to be representative of Australian industry. As indicated by Crockett and Dawkins (1994) in their review of that survey, the intention was to repeat it in 1995. Data from the 1995 AWIRS (or AWIRS95) are now available.
142 citations