Portfolio theory is central to the analysis of risk in many areas of economics but is seldom used appropriately in health economics. This contribution examines the use of portfolio theory in the context of cost-effectiveness analysis (CEA). A number of modifications are needed to apply portfolio...

This paper analyses sub-national (State and Local) government spending in Australia at the determinants of State and Local expenditure in terms of its allocation within the public sector, that is, the functions to which this level of government devotes resources. The Quantitive analysis is...

Job training is an important subject for discussion, since the skills on which an economy depends are largely created by the process of training. Various theories, especially the human capital model, have focussed attention on skill aquisition through training as a central determinant of...

This paper examines the extent of state dependence in unemployment and the role played in this by intervening low-wage employment. A range of dynamic random and fixed effects estimators are compared. Low-wage employment is found to have almost as large an adverse effect as unemployment on future...

Although there exists a wealth of data relating to the British labour market, there are a number of important issues for which reliance has previously had to be placed on small surveys or case studies in order to form an option. Thus it has been known for some time that men and women cluster in...

Empirical work on strikes has tended primarily to concern itself with the strike incidence, with the recurring finding that strikes occur procyclically. Less attendion has been paid to strike duration and the cyclical fluctuations it might display, although a variety of theoretical models have...