An essential point to arise out of macroeconomic literature of the last twenty years is that imperfect competition in product markets allows scope for aggregate demand to affect the level of output and employment; and to have positive impacts on "welfare". The present paper considers the...

The paper examines international linkages between daily time series of US and Australian 3 month Treasury Bills and 10 year Government Bonds from 1987-95, paying particular attention to the effects of macroeconomic announcements in both countries. The 2 country's interest rate data are modelled...

Intervention by the Reserve Bank of Australia on foreign exchange markets from 1993 to 1997 is conjectured to have been determined by exchange rate trend correction, exchange rate volatility smoothing and profitability considerations. Using Probit and friction models, we show that these factors...

Direct foreign investment (DFI) has played an important role in the economic development of China in the past 15 years. It contributed to the Chinese domestic capital formation and industrial growth, and promoted export expansion and employment creation. This paper provides an empirical...

This paper investigates the response efficiency of the 10-year Australian Commonwealth bond futures market to the new contents of the Australian scheduled information release from January 1993 to July 1997. Using Money Market Services market expectations data to generate the news component of...