This paper constructs a quantitative general equilibrium lifecycle model with uninsurable labor income to account for the differences in the pattern of wealth accumulation across two countries, Korea and the United States. The model incorporates the differences in the housing market institution...

We consider the impact of the recent trend in immigration policies towards selecting migrants on the basis of skills. The analysis uses an inter-temporal general equilibrium model with endogenous skill formation. The model is calibrated to a steady state benchmark that represents Australia in...

While smoking remains the leading preventable cause of death in Australia, existing policy options, except for bans on smoking at public places, seem to have limited scope for expansion. Eight new smoking bans, introduced in six different Australian jurisdictions over 2003 and 2005, provide a...

Childhood obesity has increased dramatically in the developed world. One cause of this trend, suggested by studies in the United States, is the increase in maternal employment. This paper explores if the causal relationship exists in Australia. Using recent data from the Longitudinal Survey of...

This paper experimentally investigates the effects of a costly punishment option on cooperation and social welfare in long finitely repeated public good contribution games. In a perfect monitoring environment increasing the severity of the potential punishment monotonically increases both...

This review attempts to identify treatments of corruption that draw upon characteristics of underdevelopment either as causes or as consequences. It focuses on three aspects of corruption in developing economies: red tape, rent-seeking, and the abundance of intermediaries. Red tape is presented...

Indexes often incorporate various biases due to their methods of construction. The Constant Elasticity of Substitution (CES) index can potentially eliminate substitution bias without needing current period expenditure data. The CES index requires an elasticity parameter. We derive a system of...

In this paper I analyse how I became an economist and at the same time a democratic socialist and a Christian. I also explained how I became politically involved after my graduate studies at Cambridge in the late 1950s and started lecturing at Adelaide. When back in Cambridge, teaching in the...

The empirical literature on price indices consistently finds that aggregation methods have a considerable impact, particularly when scanner data are used. This paper outlines a novel approach to test for the homogeneity of goods and hence for the appropriateness of aggregation. A hedonic...

This paper introduces series of house and land prices for Australia’s major capital cities for the period 1880-1970 which, spliced to modern data, give series spanning 1880-2010. The broad trends in prices for houses, land and rents highlight no significant movement in real prices for the...