This paper argues that the application of loss aversion to wage determination can explain the deflation puzzle: the failure of persistently high unemployment to exert a persistent downward impact on the rate of inflation in money wages. This is an improvement on other theories of the deflation...

In this paper we examine 8 years of Quality of Teaching (QOT) responses from an Economics Department in an Australian University. This is done to determine what factors besides the instructor have an impact on the raw average student evaluation scores. Most of the previous research on student...

This paper updates earlier estimates that show the existence of a range of equilibrium rates of unemployment in Australia. Within the range of equilibria framework, the paper goes on to test the effectiveness of incomes policies, enterprise bargaining and inflation-target based monetary policy...

This paper updates earlier estimates that show the existence of a range of equilibrium rates of unemployment in Australia. Within the range of equilibria framework, the paper goes on to test the effectiveness of incomes policies, enterprise bargaining and inflation-target based monetary policy...

The major failures of macroeconomic policy in the last 40 years are the huge increases in unemployment and inflation in the 1970s and the persistence for 25 years of the former. This article uses econometric estimates of a model of the range of equilibria for Australia for the period 1965:4 to...