Wiley (Books and Journals)
- Australian Economic Review From No. 1-1, April 1968 to No. 54-1, March 2021 Wiley, 2021
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Putting the Australian Economy on the Scales
Based on the increasing size of the service sector, some believe that growth in advanced countries has come without much change in the physical weight of output. To investigate the question, I generate rough estimates of the physical weight of Australian output from 1831 to 2018, using data on the weight of traded goods. These ballpark estimates imply that the weight of annual output increased...
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Dynamics of Mental Health and Healthcare Use among Children and Young Adults
Despite the high rates of mental disorder in adolescents and young adults, treatment utilisation is low. Using Australian longitudinal administrative and survey data, we show an increasing proportion of young people are accessing nervous system scripts as they age. Younger cohorts have increasingly accessed these scripts earlier; usage is generally higher among disadvantaged groups and in regions
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The Value of Pole Position in Formula 1 History
In this article, we study the effect of the Pole Position in Formula 1 history on the outcome of the race. Using data for every race between 1950 and 2013, we use two approaches to quantify the effect of being on Pole. First, we estimate the effect on the probability of winning the race using a logit model. Second, we estimate a Poisson model to express the effect in terms of finishing positions.
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Modelling the Spread of the Coronavirus: A View from Economics
This article reviews the modelling of the spread in Australia of COVID‐19 from the point of view of the discipline of Economics. After a brief overview of the epidemiological approach, we show that other modelling is needed for policy purposes and especially to provide a full understanding of the economic and social costs of disease control. We look at microeconomic aspects of infection, focusing
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Impact of Immigrant Peers on Native Students’ Achievement: Evidence from Australia, Canada and the United States
This article examines how exposure to immigrant students affects the achievement of native students in Australia, Canada and the United States. Variation in the share of immigrant students across different grade levels within schools is exploited to identify the impact of immigrant peers. The study finds that the effects on native students’ achievements of exposure to immigrant peers differ...
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Trends in Market Concentration of Australian Industries
A host of industrialised countries have seen concentration in their industries grow. This trend is fuelling concerns about falling competition. This article focuses on the changing pattern of market concentration in Australia from 2002 to 2017. On average, market concentration has been rising. However, beneath the aggregate statistics, the pattern is rather mixed, with concentration falling in...
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Economic Aspects of Loneliness in Australia
We highlight the problem of loneliness, and argue that it is not only a public health issue but also an economic problem. We provide a brief review of findings from the key literature on the associations between loneliness, mental and physical health, and healthcare costs; and then present some evidence on its trends, the extent of socioeconomic inequalities and its links with health and...
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The Productivity Commission Inquiry Report into Mental Health—A Commentary from a Health Economics Perspective
The Productivity Commission's Inquiry Report into Mental Health makes extensive recommendations to improve population mental health as a means of further enhancing productivity and economic growth. While providing an invaluable high‐level vision for reforming current mental health and social systems at a programmatic level, it lacks supporting evidence that would guide implementation of specific...
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The Australian Economy in 2020–21: The COVID‐19 Pandemic and Prospects for Economic Recovery
This article summarises developments in the Australian economy in 2020. It describes the economic growth and labour market ramifications associated with COVID‐19, and the fiscal and monetary policies implemented to help counter its effects. COVID‐19 has resulted in considerable slack in an economy that was weak pre‐pandemic. While current policies are appropriately focused on stimulating demand...
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Wage Growth Distribution and Changes over Time: 2001–2018
We explore how much wage growth varies among Australian employees and how it has changed over the 2001–2018 period. The results show that, after increasing between 2002 and 2007, wage growth significantly slowed post 2008, and particularly from 2013 onwards, returning to early 2000s levels. Employee age, education, employment contract, occupation and industry explain a large share of differences...
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#FlattenTheCurve
In this paper I adapt a common model used in economics to study the diffusion of innovations to model the transmission of a virus. Emphasis is placed on the evolution of the number of new infections and the cumulative total number of infections over time and how they might be influenced by different policies. Although the model is very simple it does yield some useful implications for public...
- Issue Information
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Non‐Standard Employment and Wage Growth in Australia
Using data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey, and after restricting attention to employees, we observe an increase over time in the non‐standard employment share, all of which is concentrated in the period since 2009. Further, we find clear evidence that employees in non‐standard forms of employment have experienced relatively low rates of growth in hourly
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Macroeconomic Policy to Aid Recovery after Social Distancing for COVID‐19
Using the Keynesian model set out in McDonald (2020), in which downward wage rigidity is supported by worker loss aversion with respect to wages, this article shows that a period of social distancing (SD) can leave a post‐SD economy with both stimulatory and depressive effects. A loss of productive capacity is stimulating. Costs of restarting firms, lower labour productivity when restarted and a...
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An Examination of Public Hospital Productivity and its Persistence: An Index Number Approach
This paper measures the level and growth of total factor productivity (TFP) of public hospitals in Victoria, Australia, using an index number approach. We further examine the persistence of productivity over time, and the extent to which productivity varies with hospital characteristics such as hospital size. Hospital administrative data from Victoria from 2007–08 to 2011–12 are used. We find...
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The ATO Longitudinal Information Files (ALife): A New Resource for Retirement Policy Research
The Australian Taxation Office release of annual longitudinally linked individual tax and superannuation records, known as the ATO Longitudinal Information Files (ALife), opens up opportunities for new research. In this study, we provide an overview of ALife, focusing on its use for retirement income research. To this end, we provide the first longitudinal estimates of superannuation outcomes for
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Sectoral Employment Dynamics in Australia and the COVID‐19 Pandemic
We develop a multivariate time series model of employment in 19 sectors for Australia. We use this model to determine the long‐run effect of a 1% increase in economic activity in any chosen sector on aggregate employment. Our findings point to manufacturing and construction sectors as those that generate the largest positive spillovers for the aggregate economy. Moreover, we provide an...
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The Australian Labour Market and the Early Impact of COVID‐19: An Assessment
From March to June 2020 was the most dramatic four months in the history of the Australian labour market. Never before has a such a substantial decrease in labour demand (and partial reversal) occurred so quickly. In this article, we present an overview of the early impact of COVID‐19: the main drivers it brought into play and the consequent labour market developments. Aggregate effects and how...
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The Cost of Coronavirus Uncertainty: The High Returns to Clear Policy Plans
Policymakers face an extremely uncertain environment during COVID‐19. Using a nonlinear VAR estimate for the Euro Area, we argue that the benefit of reducing policy uncertainty at a time dominated by pessimistic expectations amounts to several points of GDP. The impact on the economy of uncertainty shocks is much larger during periods of negative outlook for the future. We estimate the impact on...
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Is Trade Liberalisation Pro‐Poor in Pakistan? Evidence from Large‐Scale Manufacturing
This article aims to analyse the impact of industry‐level trade liberalisation (measured through industry‐specific tariff rates) on poverty in Pakistan. Combining data for tariff rates with the Labour Force Survey of Pakistan, we use quantile regression analysis to estimate the impact of changes in tariff rates on workers’ wages (associated with the manufacturing sector of Pakistan) that are at...
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Intergenerational Mobility Research: Current Challenges and Future Directions
This article discusses major challenges facing intergenerational mobility research in three main domains: (1) the (dis)connection between theory and empirical applications; (2) data gaps; and (3) measurement concerns. In doing so, it highlights theoretical and empirical extensions to better describe, explain and predict complex intergenerational transmission processes in the light of new and...
- Intergenerational Disadvantage: An Introduction to the Key Issues
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TM‐Link: An Internationally Linked Trademark Database
This article describes a new database—TM‐Link—that contains 12 million trademark applications and registrations across six jurisdictions. A feature of the database is the identification of trademark equivalents (or families) within and across national trademark offices. Equivalent trademarks are two, or more, insignias for the same product applied for by the same company. Unlike patents, the...
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Private School Usage in Australia 1975–2010: Evidence from the Household Expenditure Surveys
The use of private schools in Australia has increased greatly since the 1970s. This article shows that most of the growth has been concentrated in attendance at low‐fee schools, while the growth in using high‐fee schools has been modest. Furthermore, the increase has occurred for households at all income levels, for both single‐parent and two‐parent households, for households of all sizes, and...
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The Mechanisms Underlying the Intergenerational Transmission of Disadvantage: Three Examples from Australia
The growing debate on the intergenerational transmission of disadvantage has refocused discussion on the factors that influence this intergenerational process. This study provides a short review of the central mechanisms underlying the intergenerational transmission of (dis)advantage and illustrates the importance of these mechanisms using findings from three recent studies undertaken in...
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Australia's National Electricity Market after Twenty Years
The Hilmer reforms served electricity consumers well over the first post‐reform decade. However, three key issues emerged from the mid‐2000s: (i) a significant and largely unnecessary rise in network expenditures; (ii) emissions policy discontinuity; and (iii) a large increase in wholesale prices due to rising fuel prices and the sudden exit of generators. The consequence was a doubling in retail