Over the last decade numerous academic, industry and government studies have suggested that Australia has experienced a sustained decline in apprentice training rates and that this is contributing to shortages in core vocational occupations. This article redresses significant deficiencies in...

We provide an overview of data requirements necessary to monitor repurchase agreements (repos) and securities lending (sec lending) markets for the purposes of informing policymakers and researchers about firm-level and systemic risk. We start by explaining the functioning of these markets, and...

Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.

This paper examines the performance of implied correlations in forecasting subsequently realized correlations between exchange rates. Implied correlations are derived from sets of implied volatilities on the three exchange rates in a currency trio. We compare the forecasting performance of the...

Some questions relevant in the context of ethics in social science research are: Does social science have peculiarities which are masked by discussions on science at large? Given the need for objectivity in scientific inquiry can theory laden-ness be kept sufficiently distinct from value...

A recent influential paper (O'Connell 1998) argues that panel data evidence in favor of purchasing power parity disappears once test procedures are altered to accommodate heterogeneous cross-sectional dependence among real exchange rate innovations. We present evidence to the contrary. First, we...

Lead recycling is often supported through a well-functioning Deposit Refund System (DRS) in the market for batteries (branded and generic). In this system, people can get a discount on the purchase of a new battery if they return the used one to the retailer. While a DRS has existed in the...